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 Agrees to Pay $6.25 Million in Tax Fraud Settlement
Sotheby’s has agreed to pay $6.25 million to the state of New York and implement several reforms to resolve a tax fraud lawsuit filed by Attorney General Letitia James. The lawsuit accused the auction house of assisting clients in evading sales taxes on millions of dollars worth of art purchases.
Sotheby's pays over $6m to settle tax evasion case
The terms of the settlement in New York allowed Sotheby's to resolve the issue without admitting any wrongdoing
Sotheby's Settles for $6.25 Million Over Alleged Tax Evasion Facilitation as NY Attorney General Cracks Down on Art Market
Sotheby's settles for $6.25 million over clients' tax evasion on art purchases after a New York investigation.
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 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 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 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 Agrees to Pay New York 6.25 M. To Settle Art Sales Tax Fraud Case
A source familiar with the settlement said that Sotheby's "always believed that the NYAG had the law and facts wrong."
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 ...
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 ...
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 ...
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 ...
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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 ...
Sotheby’s Just Set 4 World Records at Its Geneva Watch Sales
Sotheby's Geneva watch auctions set four new records for timepieces from Patek Philippe, Cartier, and Rolex, bringing in ...
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Sotheby’s set for first auction in Saudi Arabia
Sotheby’s is planning its first auction in Saudi Arabia in what will be the first sale to be held by an international auction house in the kingdom. Set for February 8, the two-part evening sale titled ...
Auction house claims to sell first painting by a 'humanoid robot artist' for $1.6 million
Sotheby's claimed it as a history-making event, dubbing Ai-Da as "the first humanoid robot artist to have an artwork sold at ...