Sotheby's Offers 7% Interest to Sellers Amid Liquidity Issues; Millon Acquires Pierre Bergé & Associés.

According to the Financial Times, Sotheby's, under the ownership of Patrick Drahi, is offering sellers a 7% interest rate to postpone payments from their sales due to liquidity challenges. This decision occurs as the art market grapples with financial strains. In another development, Millon has acquired Pierre Bergé & Associés, a firm that was bought by auctioneer Alexandre Landre merely two years prior. In Paris, a series of vernissages will take place from Thursday, April 9 to Saturday, April 12, 2026, showcasing active exhibitions. Meanwhile, Art Basel Hong Kong capitalizes on the city's economic strength, with Drawing Now 2026 celebrating its 19th iteration by integrating established galleries with newcomers, further solidifying its significance in contemporary drawing.