Word: auction
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Dates: during 2000-2009
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When U.S. prosecutors indicted Sotheby's and Christie's, the country's pre-eminent auction houses, in a price-fixing scheme earlier this year, observers were giddy at the prospect of watching the high-toned lead players testify against each other in court. Last week Diana Brooks, Sotheby's elegant, blond ex-president, who was once considered the most powerful woman in the art world, did not disappoint. Brooks, who pleaded guilty last year to antitrust conspiracy and agreed to testify for the government, charged that her former boss, A. Alfred Taubman, was behind the plan that allegedly bilked patrons...
...game will undoubtedly most ardently be played by prot?g?s of the former Suharto regime who still hold key judicial, military and legislative positions. "Court cases here are basically an auction where the highest bidder wins," says Hans Vriens, who heads the Jakarta office for the Washington-based consulting group Apco. "In this case, of course, there will be immense political pressure on the judges as well...
...evidence mounts against prominent Harvard donor A. Alfred Taubman, on trial for price-fixing as chair and director of Sotheby’s auction house, the University must decide what impact the case will have on the Harvard institution named after him, the Taubman Center for State and Local Government at the Kennedy School of Government...
Taubman, who in 1988 gave $15 million to fund the center, is currently on trial for coordinating efforts with Christie’s auction house to establish higher prices and share confidential client information. He has pleaded not guilty...
...went in there prepared to pay whatever it took,” Gates said. But he was worried enough about a bidding war that he sought additional funding from publishing companies, he said. “One letter from Frederick Douglass at the same auction sold...