05/12/2001

The Sotheby’s-Christie’s auction commission rate scandal saw closing arguments round off the month long trial in New York, with the jury now to be sent away to deliberate on the case. Federal prosecutors have charged the two ex-heads of the companies, Alfred Taubman (Sotheby’s) and Anthony Tennant (Christie’s), of colluding in the setting of buyer commission rates (see news stories: daily gabrius 23/08/2001). Taubman has pleaded not guilty but could face up to three years in prison if convicted, while his opposite number Tennant has managed to skip extradition from the UK. The prosecution's case centred on the testimonies of two former executives of the companies: Sotheby’s Diana “Dede” Brooks and Christie’s Christopher Davidge. Brooks testified that Taubman ordered her to collude with Davidge in setting auction commission rates, though Taubman's lawyers responded by blaming Brooks for operating without consulting him. His defence lawyer went to claim that Ms Brooks gave a $ 105 million (€ 118 million) loan to a collector without prior permission from Sotheby’s executive board. (Andrew Moore)