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A New Yorker profile of Sotheby's and its billionaire owner Patrick Drahi reveals the chaotic aftermath of the auction house's failed 2024 fee restructuring. The plan, announced in February 2024 and enacted that May, standardized seller's commissions and buyer's premiums but backfired, driving away business and causing profits to plummet. By December, Sotheby's reversed course. The article quotes former and current employees who compare Drahi's management style to Donald Trump's tariff disputes, and recounts a tense June 2024 meeting where contemporary art chairman Grégoire Billault told Drahi he was losing business, only to be told by Drahi that everyone is replaceable.

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Christie's has promoted Kimberly Miller to the role of Global Managing Director of its luxury division. This move follows a period of strong performance for the auction house's luxury categories, which saw sales reach $795 million in 2025, a 17% increase, significantly outpacing its overall growth. Miller previously served as regional managing director for luxury in the Americas, where she oversaw jewelry, watches, wine, and handbags, and integrated the automotive auction house Gooding & Company.