Not so long ago, we did that neat little trick where we pass along a rumor while commenting on its speciousness. We regret that we’re back at it with another mention of the Pinault wants to sell Christie’s rumor. This report is no better than the Financial Times’s speculation. It repeats that idea that two private equity firms have expressed interest but we’re betting that’s just the FT’s assertion with no additional reporting.
What First Post does add is supposed artworld expertise. Scratch that, shouldn’t that read retail-world expertise? See what you think:
An art world source told The First Post that any move to sell Christie’s would be supported by Pinault’s son, Francois-Henri Pinault, who is the CEO of the family retail chain, PPR, which owns Gucci, Puma and Converse among others.
“Francois-Henri does not see Christie’s ever being particularly profitable. His father is obsessional about art, and has a huge collection with friends who are artists and dealers, but Francois-Henri is less interested and doesn’t really understand the art world.”
Is Pinault Planning to Sell Christie’s? (First Post)
