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Art and antiques news from 1998

In May 1998 François Pinault's holding company, Groupe Artémis SA, initially purchased 29.1% of Christie's for $243.2 million and subsequently bought the rest of it in a transaction that valued the whole company at $1.2 billion.

The year ended as it had began with reports that little or no progress had been made on the long-awaited reform of the French auction system.