Art Market Minute Eye on the African Art Market Plus, how did Sotheby’s inaugural auction in Saudi Arabia fare? Irma Stern, The Smoker (1945). Courtesy of Strauss and Co.

Sotheby’s Settles $6.25 Million Tax Evasion Lawsuit New York’s attorney general says the auction house helped eight collectors pose as art dealers to avoid paying taxes on art buys.

Sotheby’s will pay more than $6 million to settle claims it helped clients avoid paying taxes on high-priced art from masters like Basquiat by pretending the big-money collectors were resellers.

Market Temperature Check: Is Africa’s Art Market Cooling? Auction sales of work by artists from the continent fell 36 percent between 2023 and 2024. But there are reasons for optimism.

A banana duct-taped to a white wall — or an acclaimed piece of art, depending how you look at it — sold at a Sotheby's auction for $6.24 million Wednesday. Maurizio Cattelan's "Comedian" is ...

Maurizio Cattelan's art installation "Comedian" sold at auction at Sotheby's in New York on Wednesday, purchased by a Chinese cryptocurrency entrepreneur for approximately $6.2 million. The final ...