Deal of the art —Drahi brings hammer down on Sotheby’s | Financial Times
‘I am making this investment for my family,’ says telecom and media entrepreneur after spending $3.7bn
✒ “Sotheby’s is a superb brand, which never makes money, but it gives its owners a seat at the table of the rich and famous.” Said a billionaire art collector.
The company last year earned a profit of $109m on revenues just over $1bn — a profit margin of around 10 per cent.