Sotheby’s announced in a Press Release they have settled their differences with Third Point, for now, which seems sensible for all concerned.  Sotheby’s are dropping their Poison Pill defence and Third Point are to be allowed to build a maximum stake of 15% and add their three desired directors to the Sotheby’s board: Dan
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Dan Loeb’s Third Point LLC has produced a vigorous response to Sotheby’s latest position by submitting a well researched new filing to the  SEC.  In a form schedule 14A, citing ‘Definitive Additional Materials,’  Third Point shows how that slumping profits and falling revenue back up their claims that Sotheby’s needs some new directors, a clearer vision
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  40 works of the Russian artist Viktor Popkov (1932-1974) have gone on display at the University Ca’Foscari in Venice until April 27th, 2014. The new exhibition “Dream and Reality“ examines the most significant works of the famous Russian painter, through themes such as life, fate and death. Viktor Popkov became one the most influential
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BIDDING WARSotheby’s finds itself locked in a battle with Dan Loeb, one of New York’s most aggressive fund managers. Loeb, 51, who refers to himself as an ‘activist investor’ (the current term for corporate raider), has built up a 9.3 per cent stake in the 269-year-old auctioneer using his Third Point LLC. Sotheby’s first realised
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Sotheby’s caved in to pressure from short-term investors last week by announcing it would pay shareholders a US$300m dividend in March and that it might sell its New York and London offices.  Sotheby’s intended to use its cash position to grow into a diversified conglomerate holding positions in art and real estate.  The cash allowed
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  EAST BUYS WEST – Spears Magazine, September 2013. The efforts of auction houses and dealers to help Chinese, Russian and Indian collectors acquire a taste for Western art are starting to pay off, judging by recent sales With the wrap-up of Old Masters week and the Masterpiece fair in London, an exhausted art market
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According to Colin Gleadell in the Luxury section of London’s Telegraph newspaper Russian buyers were out in force at the recent Old Master sales at Christie’s and Sotheby’s in London.  Russian buyers have mainly stuck to Russian art over the last 2o years but it may that they are finally starting to persue other art categories
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It’s that time of year again and London’s Frieze week starts today with numerous dealer shows , auctions and fairs selling a potential record US$2bn of artworks.  The Frieze Art Fair opens tomorrow for VIP guests in a purpose built structure designed by architects Carmody Groake in Regents Park.  Gagosian will be showing five works by
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Activist investor, Daniel S. Loeb, has revealed that his hedge fund, Third Point, is now the largest shareholder in Sotheby’s holding 9.3% of the outstanding shares.  Known for his stellar results and previous shareholder activism at Sony and Yahoo Loeb has now turned his sights on Sotheby’s writing an open letter asking for the resignation of
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  Moscow Times 17 September 2013 | Issue 5215 By D. Garrison Golubock   Art Moscow Viewers examined works presented by a number of prominent Moscow galleries at last year’s Art Moscow fair. When the Art Moscow fair first opened 17 years ago, it was truly a one of a kind event, a fair intended to bring together foreign and Russian galleries,
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