The Powers That Be: Daily The Sotheby’s Side Hustle
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Sep 5, 2025 
Marion Maneker, author of 'Wallpower' and an expert on the auction world, joins to dissect the recent controversy engulfing Sotheby’s and its billionaire owner, Patrick Drahi. They discuss allegations of unethical side-dealing among employees that have given rival Christie's a competitive edge. Marion also explores the shifting culture at Sotheby’s, the ethical dilemmas faced in the art market, and how reputation impacts client decisions. The podcast promises a captivating look at high-stakes art auctions amidst scandal.
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Drahi's Management Lens Shapes The Story
- The New Yorker piece frames Patrick Drahi's management style as swashbuckling and cost-focused across his companies.
- That portrayal connects his telecom procurement scandals to alleged behaviors at Sotheby's, shaping reader perception.
Financial Strain Raises Conflict Risks
- Sotheby's has faced cash-flow pressure from higher rates and declining art sales, triggering cost cuts and layoffs.
- That squeeze creates incentives for employees and partners to seek off-book deals if oversight weakens.
'Price To Me' Private-Deal Example
- A source described "price to me" deals where sellers accept a floor price and let intermediaries keep extra above it.
- Participants sometimes prefer private deals to avoid lowering Sotheby's official commissions.