The government of Qatar has purchased the former East 64th Street gallery previously owned by the Wildenstein international art dealing family, with an estimated sale price of over $100 million.  “In many ways, it’s a little bit the soul of this company and the soul of this family, so seeing it go will be difficult,” dealer David Wildenstein said. (more…)

Sotheby’s auction house has released its capital allocation report this morning, with the announcement that it will pay out $300 million in dividends, as well as initiate a $150 million stock buyback plan, responding to investor pressure to shore up ownership in the company’s stock.  The company also announced its intent to sell its York Avenue headquarters, and has indicated attempts to add additional debt-financing to its loan department.   (more…)

Rumored since earlier this summer, Sotheby’s Uptown New York headquarters is now officially on the real estate market, following the recent share acquisition by activist investors.  The auction house has already entertained several bids for the space, but has not disclosed an asking price.  “It’s premature to speculate, as the process is still continuing.”  Said spokesman Andrew Gully. (more…)

Sotheby’s has placed its York Ave. Headquarters on the Upper East Side of Manhattan up for sale, sources report.  The auction house will be looking to potentially lease back the building for the time being, as it looks to readdress its current home.  “Given the location of our building, the current real estate market, the unsolicited interest we’ve received in our property and our responsibility to our shareholders, we are exploring our options,” Sotheby’s spokesman Andrew Gully said. (more…)