Sotheby's Sold to French-Israeli Tycoon Patrick Drahi for $3.7 Billion

Sotheby's 30-year run on the New York Stock Exchange is being put to an end as Patrick Drahi, the French-Israeli tycoon, sealed a $3.7 billion deal to buy Sotheby's.The monumental deal will make Sotheby's a private entity once again, this time owned by Drahi's BidFair USA. As a collector himself with expensive taste in art, Drahi is being welcomed to the 275-year-old auction house with open arms. Tad Smith, Sotheby's CEO, expressed, "Patrick Drahi is one of the most well-regarded entrepreneurs i...