Sotheby’s raises commissions as auctions boom
Sotheby’s has raised the commission charged to buyers on big-ticket auction purchases worldwide. Previously, the buyer’s commission was 20 percent on the first $200,000 bid at auction and 12 percent on the balance of the total bid. Now, buyers will be charged 20 percent on the first $500,000, or an additional $24,000, and 12 percent on the balance. The last time Sotheby’s increased its buyer’s commission was in January 2005. Within weeks, Christie’s raised its commission to match Sotheby’s; as of now, Christie’s has not announced any plans to raise its fees.
Million dollar gift to baltimore
The Baltimore Museum of Art, which has one of the world’s largest collections of works by the painter Henri Matisse, will receive a ten million dollar endowment gift from one of its honorary trustees. The gift from Dorothy McIlvain Scott is the largest in the museum’s history.
Bronze sculptures, including Rodin, stolen from dutch museum
Thieves have stolen seven bronze sculptures, including a cast of Auguste Rodin’s The Thinker, from a Dutch museum’s garden.
This is starting to get a little bit silly. I mean how difficult is it to have a security team for a museum? or even a gate for a sculpture garden? But don’t worry, the police have got this all sorted because, The police asked smelters and foundries “to keep their ears and eyes open.”