NPR

Sotheby's Announces Its Biggest Sale — Itself — For $3.7 Billion

The deal puts the auction house, which was founded in 1744, on a path to becoming a private company again.
Sotheby's says its board has accepted a purchase offer from telecom billionaire Patrick Drahi. Here, the auction house's headquarters are seen on Manhattan's Upper East Side. Source: Drew Angerer

Updated at 1:28 p.m. ET

Sotheby's has accepted a merger offer from entrepreneur Patrick Drahi, who will purchase the auction house for $3.7 billion. The deal puts Sotheby's, which was founded in 1744, on a path to

You're reading a preview, sign up to read more.

More from NPR

NPR3 min read
MVP Pitcher Madison Bumgarner Has A Secret Life — As A Champion Cattle-Roper
The left-handed pitching ace has been entering — and sometimes winning — rodeo events under the alias "Mason Saunders."
NPR3 min read
Thousands Attend Kobe Bryant Memorial In Los Angeles
Some 20,000 people got tickets to say farewell to NBA great Kobe Bryant and his daughter Gianna at the Staples Center in Los Angeles. People without tickets were being urged to watch at home.
NPR4 min read
Secretive Church Sect At The Center Of South Korea's Coronavirus Outbreak
With 833 cases, the country now says it is on "red alert" and is taking measures to contain the disease.