A 16.08 carat rare pink diamond sold for more than $28.55 million (28.73 million Swiss francs) at Christie's Geneva Magnificent Jewel sale. The largest cushion shaped vivid pink diamond in the auction was purchased by a Chinese client based in Hongkong. The private buyer dubbed the diamond as "The Sweet Josephine".
With an Atlantic tailwind from May auctions in New York in which the two biggest auction houses sold more than $2 billion of art, eyes are focused on major sales beginning next week in London that may see prices soar again to dizzying heights.
With prices for top-tier works of art at an all-time high, records for paintings and sculpture appear certain to fall at upcoming spring auctions in New York by Christie's and Sotheby's.
Going, going, gone! Sold to the highest bidder at the auction, on the phone or on a new eBay platform that will stream Sotheby's New York auctions live beginning next month.
Buying art at Sotheby's (BID.N) will soon become more expensive as the top international auction house announced it is increasing its buyer's premium, the rates it charges a successful bidder.
The London auction scene is gearing up for another big season, with the two biggest auction houses targeting buyers around the world for evening sales in February expected to generate several hundred million pounds.
An Italian white truffle, reportedly the largest in the world, will be sold at an in-house and online auction in New York on Saturday where bidding is expected to start at $50,000 and could go much higher, Sotheby's said on Thursday.
A major collection of modern and contemporary art assembled by two of the 20th century's most prominent collectors is expected to fetch more than $85 million when it hits the auction block next month, Sotheby's said on Monday.
Auction house Sotheby's named Tom Ford International Chairman and former Gucci head Domenico De Sole as its lead independent director amid criticism from activist investor Daniel Loeb.
New York-based auction house Sotheby's is gearing up for its first commercial sale in China with USD212 million worth of artwork consisting of western and Chinese paintings, jewelry and furniture by Picasso, Rembrandt and Zao Wou-Ki.
The auction frenzy seen in Hong Kong's latest auctions by Christie's International Plc was not caught on in London, wherein seven of the 24 lots put up for sale did not attract bidders.
Tobias Meyer, Sotheby's chief auctioneer, left the auction house prior to his end of contract a week after spearheading the company's biggest sale, which was Andy Warhol's "Silver Car Crash" for USD104.5 million.
Trian Fund Management LP, an alternative investment fund, had put its stake in State Street Corp up for sale. It sold 1.86 million shares worth USD121.5 million. Trian Fund was founded by activist investor Nelson Peltz.
A Reuters report said hedge fund managers in the US bought and exited from shares of hotly-debated firms like retailer JC Penney, nutrition and weight management company Herbalife Ltd and auction house Sotheby's.
Top U.S. hedge fund managers in the third quarter zoned in on the consumer sector, with investment plays ranging from Sotheby's, a high-end auction house that caters to millionaires, to J.C. Penney Co, the struggling department store chain.