In Episode 5 of the Art Market Podcast, Tom takes a deep dive into what has really been happening at Sotheby’s under seven years of Patrick Drahi’s ownership, the new round of borrowing, including from clients, the securitisation of art backed loans, the leveraged real estate, and the strategic pivot from art house to luxury business.
Georgina then reports back from the newly revived Art Cologne Palma Mallorca, a notably German affair on the Balearic “seventeenth state.”
Finally, Tom surveys a pivotal week for Milan’s art fairs - Miart, the first Italian edition of Paris Internationale, and the scrappy upstart MEGA, set against Italy’s flat-tax regime and its new five percent VAT on art. Enjoy!
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