Hedge fund manager Alexander Klabin buys stake in Sotheby's financing arm
NewsAuction houses
Hedge fund manager Alexander Klabin buys stake in Sotheby's financing arm
Now the chairman of Sotheby's Financial Services, Klabin was previously approached to back a competing offer to block last year's buyout of the auction house by Patrick Drahi
Piece by piece: the issues with fractional ownership of art
CommentArt market
Piece by piece: the issues with fractional ownership of art
Billed as the next big thing, schemes to sell shares in works of art have yet to excite the market
Funding Secure goes into administration after borrowers including London art dealer fail to pay back loans
NewsArt market
Funding Secure goes into administration after borrowers including London art dealer fail to pay back loans
Matthew Green owes the firm around £3m, according to legal documents filed by the peer-to-peer lender
Another shake-up in art finance sector as Athena sold for $170m
NewsArt market
Another shake-up in art finance sector as Athena sold for $170m
New owner, digital investment platform YieldStreet, calls art finance an "exciting and sound new investment option" with low correlation to the stock market
The Fine Art Group buys Falcon Fine Art as art finance industry consolidates
NewsArt market
The Fine Art Group buys Falcon Fine Art as art finance industry consolidates
Terms and cost of the Falcon buy have not been revealed but deal includes the "purchase of over 10 loans” with borrowers in the EU, Australia and the US
Sotheby's and Christie's auction review
ArchiveAuction Report
Sotheby's and Christie's auction review
Strongest sales to date for both houses.
CommentArt market
We need to talk about guarantees. And art loans
Dealers who finance deals by taking out loans against art may well find themselves in difficulty because of the Covid-19 pandemic
Georgina Adam