Sotheby S Inc

Shares of art auctioneer Sotheby's on Thursday had their biggest one-day drop after paintings by Vincent van Gogh and other famous artists failed to sell at an Impressionist art sale in New York -- prompting concern that Wall Street's woes will batter the art world. The auction Wednesday evening took in $269.7 million, including commissions. That was a third less than the low presale estimate of $401 million.

The Beverly Hills branch of Sotheby's auction house is getting into the holiday spirit today with a one-day show of rare Christmas books, manuscripts, drawings, cards and depictions of Santa Claus. Amassed over 50 years by the late advertising executive Jock Elliott, the collection will go on the block Dec. 12 at Sotheby's New York, where it's expected to bring up to $1 million. * Suzanne Muchnic

A Faberge icon of Jesus Christ in a silver frame studded with rubies, sapphires, pearls and emeralds sold today for $780,000, more than five times its high estimate, at a Sotheby's auction in New York. A Moscow dealer in the room lost to a telephone bidder in a drawn-out, five-minute battle for the icon, made in about 1900. The icon was the most expensive lot in Wednesday's sale of Faberge items, imperial porcelain, icons, bronzes and enamels. On Tuesday, Sotheby's sold $36 million of Russian 19th and 20th century paintings.

A prominent Russian industrialist, Victor Vekselberg, bought the Forbes Collection of Faberge Wednesday for an undisclosed sum, Sotheby's announced Wednesday. The collection had been scheduled for auction in New York on April 20, but Sotheby's negotiated the private deal on behalf of the Forbes family. The collection "represents perhaps the most significant example of our cultural heritage outside Russia," Vekselberg said in a statement.

Staging an estate auction for a recently deceased celebrity can be a crass business, and when that celebrity happens to be named Cash, some unkind puns quickly spring to mind. So give credit to Sotheby's LLC for the massive auction this week in New York that is handling the estate of Johnny and June Carter Cash with as much archival reverence and sentiment as its gavel business allows. "It's a delicate thing, and we know it.

Sotheby's International Realty, one of the toniest names in the home-selling business, strengthened its presence in Southern California's upscale neighborhoods by acquiring DBL Realtors, the companies said Thursday. Terms of the deal, which was completed Wednesday, weren't disclosed. Realtor to stars such as Madonna and Ricky Martin, Sotheby's is a former division of the famous auction house. It was acquired by franchise giant Cendant Corp. this year.

An autographed copy of the classic poem that begins with the familiar line " 'Twas the night before Christmas" will be auctioned at Sotheby's this holiday season. The handwritten manuscript, signed by author Clement Clarke Moore, is one of just four known autographed copies, according to Sotheby's. It is expected to sell for between $200,000 and $300,000 when auctioned in New York on Dec. 3.

In what could be the last chapter of years of legal trouble, Christie's and Sotheby's, the world's largest auction houses, have agreed to pay $20 million each to resolve antitrust claims by customers outside the United States. The proposed settlement, which must be approved by U.S. courts, stems from a criminal case in which former Sotheby's Chairman A. Alfred Taubman was convicted of conspiring with former Christie's chief Anthony J.

Auction house Sotheby's Holdings Inc. and its rival Christie's will each pay $20 million to settle antitrust litigation related to a costly price-fixing scheme, Sotheby's said. The agreement, which is subject to court approval, will settle a class-action lawsuit that sought damages through U.S. courts related to overseas auctions that took place from 1993 to 2000, the company said.

With Asia staggering from economic crises, eyes were on Hong Kong last week as auctions at Sotheby's and Christie's vied for their share of what is left of the fabled Asian wealth. Chinese paintings, ceramics, snuff bottles and works of art went under the hammer along with Western jewelry and watches, fine wines and cognac in this most important of Asian art markets. The good news is that there still seem to be people willing to spend.