Pursuits
Sotheby's Gains $200 Million More for Guarantees as Sales Loom
- Auction house lifts capacity to $800 million until Feb. 29
- Taubman collection valued at more than $500 million featured
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Sotheby’s obtained an additional $200 million in credit to finance guarantees, the auctioneer of fine art and collectibles said in a regulatory filing, as the firm and its competitors gear up for their major sales in New York during November.
A group of lenders, led by General Electric Capital Corp., increased New York-based Sotheby’s credit line to $800 million from $600 million through next February, according to Wednesday’s filing.