Art, Debt, and Market Turmoil

This chapter examines the complicated dynamics of a billionaire's art collection sale and its financial implications, particularly during the pandemic. It discusses the impact of rising interest rates and market fluctuations on Sotheby's operations, alongside their strategies to navigate significant debt and evolving market conditions. Furthermore, the chapter highlights recent capital-raising efforts, including a substantial investment from an Abu Dhabi sovereign wealth fund and the acquisition of real estate to expand Sotheby's footprint.