tag:blogger.com,1999:blog-35183976.post1559722724027989004..comments2023-10-26T06:35:55.278-05:00Comments on Illicit Cultural Property: Sotheby's Refuses to Disclose Executive BonusesAnonymoushttp://www.blogger.com/profile/00815004368881797395noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-35183976.post-61817274393696677882009-10-24T07:43:31.211-05:002009-10-24T07:43:31.211-05:00Nice post I Like your site very well and continue ...Nice post I Like your site very well and continue to do so. I have bookmarked your site.<br /><a href="http://www.findaproperty.com.sg/" rel="dofollow" rel="nofollow">Singapore Shops</a>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-35183976.post-35248594723939111322009-10-23T09:40:06.187-05:002009-10-23T09:40:06.187-05:00Tom,
I agree with you on the need for some form o...Tom,<br /> I agree with you on the need for some form of market regulation or at the very least increased transparency in art dealings. However, to play devil's advocate, it seems excessive to accuse Sotheby's of underhanded or corrupt behavior for wishing to avoid disclosure of the disposition of funds, when its only major competitor is able to keep such dealings private. While Christie's is privately owned it is the only other auction house with a comparable market share to Sotheby's and it seems reasonable to expect that a comparison between the two would come up when a significant imposition is imposed on one and not the other. If you can think of another reason Christie's might be brought up I'd be very interested to know.<br /><br />Regards,<br /><br />AaronAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-35183976.post-47140040719387727782009-10-22T10:30:46.006-05:002009-10-22T10:30:46.006-05:00Thanks for posting this, Derek. I missed it. It su...Thanks for posting this, Derek. I missed it. It surely undescores the fragile position of the big fine art auction houses and the growing need for some kind of market regulation. This issue was pretty high up on the discussion agenda at the recent Deloitte art market symposium here in London during Frieze week. It's absurd that the existence of a privately-owned auction house (Christie's) is cited by a publicly-quoted company (Sotheby's) as a legitimate cause for lack of disclosure of critical financial information. Surely another reason Sotheby's is reluctant to open the kimnono is that it would expose them to criticism for excessively rewarding top executives while laying off staff elsewhere during a tough economic climate. <br />Best,<br />TomTom Flynnhttp://www.artknows.co.uknoreply@blogger.com