Michel Strauss, Sotheby's main specialist for Impressionist, Modern and Contemporary paintings with Charles Moffett, has joined the LVMH group headed by French businessman Bernard Arnault, it was announced in Paris on December 21st 2000. Mr Strauss, 65, will work on an artistic project, which Bernard Arnault has not yet disclosed. The expert however stated that he would not be involved with the activities of Phillips, the London-based auction House, as a provision in his contract with Sotheby's did not allow him to work for a rival firm during a certain period.
Sales of Impressionist, Modern and Contemporary works represented 38% of Sotheby's turnover in 1999.
Meanwhile, Phillips, a subsidiary of LVHM, has merged recently with Simon de Pury & Luxembourg Art.
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