Sotheby’s to Charge a New 'Overhead Premium' Fee Amidst Pandemic, Effective 1 August | Auctions News | THE VALUE | Art News

As the spread of COVID-19 continues to impact global business, auction houses are trying all means possible to cope with financial difficulties. Besides cost-cutting measures such as furloughs, pay freeze, layoffs and shifting more live sales online, they are also finding ways to increase revenue.