Patrick Drahi will remain auction house's majority shareholder in $1bn deal, as ADQ buys shares to "reduce leverage" and support "growth and innovation"

The large-scale investment vehicle raises major questions about who gets to decide where, how and to whom art circulates

In a stubbornly stagnant market, the big players are searching for new ideas that will bring sustained growth

Auction house’s bold changes that favour buyers could bolster profits—or they could backfire

An auction house spokesperson says Companies House figures do not represent full scope of business

Billionaire businessman has amassed a treasure trove of more than 200 prime works of art, many bought through his auction house

Ex-staff are now considering legal action, claiming they were not kept informed of changes to the scheme

The auction house, which had been publicly traded for decades before being bought by Patrick Drahi for $3.7bn in 2019, could return to public trading later this year

Drahi bought Sotheby’s less than three years ago, took it private and began implementing a series of cost-cutting measures

The cost-cutting French telecommunications billionaire has formed Altice UK to buy a 12.1% stake in the company

The co-founder of Art Agency, Partners will transition to a consultant role as Nina del Rio takes the helm of the auction house's advisory services

“No fireworks” at last night's Impressionist, Modern and Surrealist art auction that featured three restituted works

Smith leaves after four and a half years with a $28.2m severance deal, including $16.9m in shares, and will remain as a senior adviser to Stewart

With 91% of shareholders in favour, the publicly traded auction house will officially go private after three decades on the New York Stock Exchange

Auction house says such litigation is “routine in the US”, with deal expected to be completed by the end of the year

Sale to telecoms magnate Patrick Drahi looks set to go ahead as firm makes up for a loss in revenue through increased commissions and more efficient guarantees

Lawsuits argue that information filed to the SEC is inadequate