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.

Phillips unveil their backers and new plans

15 June 1998

THE FUTURE shape of Phillips following the sudden retirement of former owner Christopher Weston became clearer last week.