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BUSINESS
December 13, 2001 | Reuters
The board of directors of Sotheby's Holdings Inc. said it was directing its executive committee to meet "promptly" with the Taubman family to discuss the possible sale of the auction house, according to a filing with the Securities and Exchange Commission. Alfred Taubman, the former chairman of the 257-year-old auction house, was found guilty last week of conspiring with the former head of rival auctioneer Christie's to fix commission fees in a multimillion-dollar scam that shook the art world.
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REAL ESTATE
February 22, 2004 | From Times wire reports
Cendant Corp., the parent of Avis and Century 21, has bought the residential real-estate brokerage of auction-house Sotheby's Holdings Inc. for $100 million, the companies said Tuesday. The brokerage, Sotheby's International Realty, deals with luxury properties in 40 states and 20 countries. The deal does not include its European offices and affiliates, which will continue under current management.
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BUSINESS
February 3, 2001 | From Reuters
A federal judge Friday accepted a guilty plea and imposed a $45-million fine on Sotheby's Holdings Inc. in a criminal price-fixing case but deferred final approval of a $512-million class-action settlement for the auction house and its chief rival, Christie's International. U.S.
BUSINESS
February 22, 2003 | From Reuters
Sotheby's, skilled at selling Picasso paintings and Tiffany tea sets, couldn't bring down the gavel on itself after the residue of a price-fixing scandal frustrated an eight-month auction process. The auction house and former Chairman A. Alfred Taubman said they called off the sale of the company. Sotheby's continued to face legal entanglements after Taubman's conviction on charges of fixing commission fees with rival Christie's International.
BUSINESS
January 20, 1999 | From Reuters
Renowned auction house Sotheby's Holdings Inc. said Tuesday it is launching an Internet auction business, joining the flurry of companies rushing to capitalize on electronic commerce and triggering a 29% jump in its share price. Shares of Sotheby's, founded in 1744, soared $9.38 to close at $41.50 on the New York Stock Exchange. "We expect the site to be up and running by early summer," Sotheby's Chief Executive and President Dede Brooks said.
BUSINESS
May 16, 2001
Sotheby's Holdings Inc., the auction house whose former chairman was indicted this month on charges he conspired to fix commissions, said its first-quarter loss narrowed to $22.5 million, or 38 cents a share, from $29 million, or 49 cents, a year ago, as it continued to cut costs. Analysts expected a loss of 23 cents. Sales rose 5% to $57.5 million.
ENTERTAINMENT
November 8, 2000 | SUZANNE MUCHNIC, TIMES ART WRITER
Come lawsuits or an aggressive new rival, this month is prime time for New York's big auction houses. As this season's installment of fall sales unfolds, collectors and dealers of high-end Impressionist, modern and contemporary art are converging in Manhattan to compete for the privilege of spending vast sums of money with the wave of a numbered paddle, the nod of a head or the flick of a wrist.
BUSINESS
February 22, 2003 | From Reuters
Sotheby's, skilled at selling Picasso paintings and Tiffany tea sets, couldn't bring down the gavel on itself after the residue of a price-fixing scandal frustrated an eight-month auction process. The auction house and former Chairman A. Alfred Taubman said they called off the sale of the company. Sotheby's continued to face legal entanglements after Taubman's conviction on charges of fixing commission fees with rival Christie's International.
BUSINESS
June 12, 1992 | From Times Staff and Wire Reports
Sotheby's Chairman to Sell Block of Stock: Sotheby's Holdings Inc. announced that two top officials are selling 10 million shares of common stock with limited voting rights in the auction house--about 19% of the outstanding shares. A. Alfred Taubman, chairman of the world's largest art auction firm, is selling 8 million shares. Two million are being sold by Vice Chairman Max Fisher and Martinique Hotel Inc. Sotheby's stock eased 50 cents to $12.
BUSINESS
September 23, 2000 | From Bloomberg News
Sotheby's Holdings Inc. and Christie's International reached a tentative agreement to pay $512 million to settle a private class-action suit over price fixing, the New York Times reported, citing unidentified lawyers. The two biggest auction houses would each pay $256 million to end claims brought by more than 120,000 buyers and sellers, the paper said, citing the lawyers. The tentative civil settlement might include payments from former Sotheby's Chairman A.
BUSINESS
June 4, 2002 | Associated Press
A. Alfred Taubman, the former chairman of Sotheby's Holdings Inc. who was slapped with a prison sentence in April for his role in a price-fixing scheme, said he is working in cooperation with the auction house to explore the possible sale of the company or his nearly 63% voting stake in it. Taubman, 78, who left the auction house in February 2000, said in a filing with the Securities and Exchange Commission that he also is studying a possible merger of the company.
BUSINESS
May 16, 2001
Sotheby's Holdings Inc., the auction house whose former chairman was indicted this month on charges he conspired to fix commissions, said its first-quarter loss narrowed to $22.5 million, or 38 cents a share, from $29 million, or 49 cents, a year ago, as it continued to cut costs. Analysts expected a loss of 23 cents. Sales rose 5% to $57.5 million.
BUSINESS
February 3, 2001 | From Reuters
A federal judge Friday accepted a guilty plea and imposed a $45-million fine on Sotheby's Holdings Inc. in a criminal price-fixing case but deferred final approval of a $512-million class-action settlement for the auction house and its chief rival, Christie's International. U.S.
ENTERTAINMENT
November 8, 2000 | SUZANNE MUCHNIC, TIMES ART WRITER
Come lawsuits or an aggressive new rival, this month is prime time for New York's big auction houses. As this season's installment of fall sales unfolds, collectors and dealers of high-end Impressionist, modern and contemporary art are converging in Manhattan to compete for the privilege of spending vast sums of money with the wave of a numbered paddle, the nod of a head or the flick of a wrist.
NEWS
September 26, 2000 | PAUL LIEBERMAN, TIMES STAFF WRITER
Sotheby's and Christie's, the world's two dominant art auction houses, have agreed to pay $512 million to settle a class-action civil lawsuit that accused them of collaborating to fix fees charged to clients while also sharing lists of elite customers who were given special deals. Sotheby's also said it is close to reaching an agreement with the U.S. Justice Department's Antitrust Division, which has been conducting a criminal investigation of the price-fixing. "We are in serious negotiations. .
BUSINESS
September 23, 2000 | From Bloomberg News
Sotheby's Holdings Inc. and Christie's International reached a tentative agreement to pay $512 million to settle a private class-action suit over price fixing, the New York Times reported, citing unidentified lawyers. The two biggest auction houses would each pay $256 million to end claims brought by more than 120,000 buyers and sellers, the paper said, citing the lawyers. The tentative civil settlement might include payments from former Sotheby's Chairman A.
BUSINESS
February 22, 2000 | From Reuters
Sotheby's Holdings Inc. said Monday that its two top executives stepped down as an antitrust probe involving the high-brow auction house and its main rival, Christie's International, widened. The company said A. Alfred Taubman stepped down as chairman of the 225-year-old auction house and Diana Brooks resigned as its president and chief executive.
NEWS
September 26, 2000 | PAUL LIEBERMAN, TIMES STAFF WRITER
Sotheby's and Christie's, the world's two dominant art auction houses, have agreed to pay $512 million to settle a class-action civil lawsuit that accused them of collaborating to fix fees charged to clients while also sharing lists of elite customers who were given special deals. Sotheby's also said it is close to reaching an agreement with the U.S. Justice Department's Antitrust Division, which has been conducting a criminal investigation of the price-fixing. "We are in serious negotiations. .
BUSINESS
February 22, 2000 | From Reuters
Sotheby's Holdings Inc. said Monday that its two top executives stepped down as an antitrust probe involving the high-brow auction house and its main rival, Christie's International, widened. The company said A. Alfred Taubman stepped down as chairman of the 225-year-old auction house and Diana Brooks resigned as its president and chief executive.
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