The Guardian Notes Billionaire Speculation in 1997 Ganz Collection Auction in Panama Papers

April 9th, 2016

The Guardian reports on another art world story hidden within the Panama papers, noting that the record-breaking auction of the Ganz collection in 1997 may have been heavily manipulated by financial speculator Joe Lewis.  A shell company held by Lewis is noted in the leak as buying up all of the most valuable works from this auction six months before the sale, ultimately making a tidy profit through the smashed auction estimate.  Read more at The Guardian