Sotheby's to pay $6.25 million to settle state lawsuit alleging tax cheating by clients
The state said the auction house helped clients cheat their way out of paying tens of millions of dollars in sales taxes
Sotheby’s Settles $6.25 Million Tax Evasion Lawsuit
New York’s attorney general says the auction house helped eight collectors pose as art dealers to avoid paying taxes on art buys. Sotheby’s admits no wrongdoing.
Sotheby's to pay $6.25 mln in tax fraud case
The auction house Sotheby's will pay $6.25 million to settle charges that it helped art buyers avoid paying taxes. It said the auction house encouraged buyers to state fraudulently that they were acquiring works for resale later.
Sotheby's settles New York tax fraud case, pays damages
Sotheby's will pay $6.25 million and adopt reforms to settle New York Attorney General Letitia James' lawsuit accusing the famed auction house of fraudulently helping clients avoid sales taxes on tens of millions of dollars of art purchases.
Sotheby’s Settles Tax Fraud Lawsuit for $6.25 Million
New York’s attorney general said in a lawsuit that the auction house had helped collectors avoid tax payments on art purchases.
Sotheby’s Pays $6 Million to Settle NY Sales Tax Evasion Probe
Sotheby’s Inc. agreed to pay $6.25 million to settle a New York state lawsuit that accused it of advising wealthy clients they could avoid sales taxes by falsely claiming they were buying art for resale purposes.
Sotheby’s settles lawsuit alleging it helped art collectors avoid taxes on works by Basquiat, others
Sotheby’s will pay more than $6 million to settle claims it helped clients avoid paying taxes on high-priced art from masters like Basquiat by pretending the big-money collectors were resellers. One high-roller allegedly dodged taxes on $27 million worth of art from Sotheby’s between 2010 and 2015,
Diamond Necklace Possibly Linked to Marie Antoinette Sells at Auction for $4.8M
The 300-carat necklace thought to be at the center of the infamous 'Affair of the Diamond Necklace' that contributed to the ...
A 1,500-Year-Old Inscribed Tablet of the Ten Commandments Is Headed to Auction
The oldest inscribed stone tablet of the Ten Commandments, from 1,500 years ago, could fetch $2 million at a Sotheby's ...
The Art Newspaper16h
Sotheby's pays over $6m to settle tax evasion case
Sotheby’s has agreed to pay $6.25m to the state of New York to settle a four-year-long case brought against the auction ...
Oldest stone tablet inscribed with Bible’s Ten Commandments to be sold at auction
The oldest known tablet inscribed with the Ten Commandments from the Old Testament is expected to fetch up to $2 million when ...
Oldest stone tablet of Bible’s 10 Commandments discovered after being used as a PAVING STONE set to fetch $2m at auction
THE oldest stone tablet known to hold the inscription of the Ten Commandments is set to fetch up to $2 million after being used as a paving slab. At around 1,500 years old, the marble slab was ...
Observer16h
Sotheby’s and Christie’s Saudi Arabia Moves, Art Basel Abu Dhabi and a Rumored Frieze Sale
This is a very dynamic time for culture in Saudi Arabia,” according to Sotheby’s CEO Charles F. Stewart, who added in a ...
Rare pair of Ming Dynasty jars smash auction estimate, selling for $12.5 million
The porcelain jars, made for the Jiajing Emperor, sparked a 20-minute bidding war among more than 10 collectors before ...
First artwork painted by humanoid robot sells at auction — for a whopping $1 million
Today’s record-breaking sale price for the first artwork by a humanoid robot artist to go up for auction marks a moment in ...