A. Alfred Taubman, Sotheby's Owner and Collector, Dies at 91

A. Alfred Taubman, the prominent art collector and former owner of Sotheby's, has passed away at age 91 according to the New York Times. His diverse business portfolio included real estate, A&W root beer, movie theaters, department stores, and shopping malls. In 1983, he acquired Sotheby's during its financial struggles and transformed it into the contemporary auction house known today. Taubman's collecting interests spanned old masters along with 19th- and 20th-century artworks. He served on the boards of multiple cultural organizations. However, his legacy includes a conviction alongside Christie's counterpart Sir Anthony Tennant for colluding on commission rates to increase profits, resulting in a prison sentence of nine and a half months. Taubman famously compared selling art to selling root beer, emphasizing that neither is essential but both promise enhanced experiences. His retail expertise shaped his approach to the art market.