Sotheby’s settles lawsuit alleging it helped art collectors avoid taxes on works by Basquiat, others
Sotheby’s will pay more than $6 million to settle claims it helped clients avoid paying taxes on high-priced art from masters like Basquiat by pretending the big-money collectors were resellers. One high-roller allegedly dodged taxes on $27 million worth of art from Sotheby’s between 2010 and 2015,