French billionaire

A New Contemporary Art Venue: A Sneak Peek Inside François Pinault’s Art Museum Bourse de Commerce

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    Opening 23 January 2021, The Bourse de Commerce, the new François Pinault’s $170 Million Art Museum hosting the Pinault Collection, will be a breathtaking cultural space.   The inauguration of the Bourse de Commerce—Pinault Collection gallery in Paris, initially due to open in mid-June, has been postponed to January 23, 2021 due to … Read more

Auction house Sotheby’s is going private after acquisition by French billionaire Patrick Drahi

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    Billionaire telecommunications executive and art collector Patrick Drahi acquired auction house Sotheby’s. After more than 30 years as a public company, Sotheby’s returns to private ownership. Patrick Drahi offered $3.7 billion for the 250-year-old auction house. The transaction would result in Sotheby’s returning to private ownership after 31 years as a public company … Read more

Going, going, gone: how Sotheby’s and Christie’s still lose out on big sales

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Despite increasing prices of art, big profits do not always trickle down to auction houses – thanks to generous guarantees to ultra-rich sellers