Les 7 % de Sotheby’s
Sotheby’s has reportedly begun offering sellers a 7% interest rate to delay the payout of their auction proceeds. This unusual financial incentive comes as the auction house, owned by billionaire Patrick Drahi, faces significant liquidity challenges and a reported cash crunch.
The move highlights the intensifying financial pressures on one of the world's leading auction houses amidst a broader market slowdown. By incentivizing clients to defer payments, Sotheby’s is attempting to manage its debt and cash flow, a strategy that signals potential instability to collectors and investors within the global art market.