Why is Sotheby's acting like a bank | FT #shorts
Auction houses are known for selling art — but Sotheby's is starting to look a bit like a bank for the very rich. The auction house is offering sellers interest of 7% to delay paying out their sale proceeds as Sotheby's grapples with a cash squeeze in a poor art market.
#Why #Sothebys #acting #like #bank
Auction houses are known for selling art — but Sotheby's is starting to look a bit like a bank for the very rich. The auction house is offering sellers interest of 7% to delay paying out their sale proceeds as Sotheby's grapples with a cash squeeze in a poor art market.
#Why #Sothebys #acting #like #bank
Why is Sotheby's acting like a bank | FT #shorts
Auction houses are known for selling art — but Sotheby's is starting to look a bit like a bank for the very rich. The auction house is offering sellers interest of 7% to delay paying out their sale proceeds as Sotheby's grapples with a cash squeeze in a poor art market.
#Why #Sothebys #acting #like #bank
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