Posts Tagged ‘ Dan Loeb ’

Henry Wyndham brings down the hammer at Sotheby's

Sotheby’s riding high for now… but looking vulnerable

May 21st, 2015 | By

I have written elsewhere about Sotheby’s share price being a leading indicator for the general health of the art market and indeed for the stock market in general.  See http://www.russianartdealer.com/journal/aggressive-activist-investors-shake-sothebys-spears-wms-magazine/ The following article written by James Stefurak for Seeking Alpha is an in-depth examination of Sotheby’s, its share price, and the general health of the art
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Tad Smith, New President and Chief Executive of Sotheby's.

The suits take over Sotheby’s

Mar 23rd, 2015 | By

Sotheby’s have revealed their new President is Tad Smith, the former head of Madison Square Gardens.  Mr Smith acknowledges he knows nothing about art or the art world but apparently likes Ai Weiwei and Damien Hirst (which confirms he knows nothing about art).  He said he recently bought a photograph of a floating ballet dancer
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Buy Sotheby’s stock when its down?

Aug 14th, 2014 | By

  Sotheby’s stock price is considered a bell weather of the art market and its stock price is currently at a 52 week low.  James Bjorkman of Seeking Alpha makes the case below that for contrarians this might be a good time to load up on Sotheby’s stock.  Alternatively Sotheby’s share price has proved a
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Tobias Meyer, formerly of Sotheby's, selling Andy Warhol's 'Liz' for more than US$20m in November 2013.

Sotheby’s pay the price for having investors with short-term horizons

Feb 5th, 2014 | By

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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Alfredo Gangotena, new marketing chief at Sotheby's

Sotheby’s strengthens its senior management under continued shareholder pressure

Dec 11th, 2013 | By

Under pressure from activist shareholder Dan Loeb and his Third Point hedge fund Sotheby’s continues to strengthen its senior management with the recent appointment of Alfredo Gangotena as Head of Marketing.  Until July, when he resigned, Gangotena was marketing chief of Mastercard where he had considerable success.  In a Sotheby’s press release Gangotena is described
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Victor Popkov self-portrait.

UK Popkov exhibition will also be now shown in Venice in 2014, the UK-Russia Year of Culture

Nov 25th, 2013 | By

2014 has been declared the UK-Russia year of Culture in a joint statement signed in March 2013 by Foreign Secretary William Hague and Foreign Minister Sergei Lavrov.  Exhibitions will include Russian Avant-Garde at the V&A, Malevich at the Tate Modern and Victor Popkov at Somerset House.  The Moscow Philharmonic Orchestra will perform at Cadogan Hall,
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