Sotheby’s Sells Off Its S. Africa Auction Unit
- Share via
From Reuters
JOHANNESBURG, South Africa — Sotheby Parke Bernet, the international auction house, has sold its small South African operation to local management in what an official termed a “preempt disinvestment.”
Sotheby’s South Africa Managing Director Stephan Welz said the deal was arranged after the firm’s American owners became uncomfortable about the political situation. Terms were not disclosed.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
