Nick Martell

In fact, Sotheby's is offering 7% interest to those willing to wait after Sotheby's sells their art.

It's the first ever sell now, get paid later scheme that we've ever seen.

I mean, Jack, now that we're thinking about this, it's kind of like Sotheby's is like one of those Bravo reality stars, right, man?

They look rich, but behind the scenes, they actually have huge credit card debt.

Real Housewives of Sotheby's is what we're thinking.

Imagine if you sold a house and your realtor was like, I'll give you the money in six months.

Ah, not going to work.

So Jack, how did Sotheby's ruin the perfect luxurious business model?

In a word, crapitalism.

Going once, going twice, going three times.

Jack, what's the takeaway for our buddies over at Sotheby's?

We have to call out crapitalism when we see it.

Yetis, Sotheby's actually used to be a publicly traded stock up until 2019.

That's when it got bought up by Patrick Drahi for 3.9 billion bucks.

Patrick Drahi, the Franco-Israeli billionaire, borrowed about a billion dollars to acquire Sotheby's back in 2019.

And his pitch?

Let's blow up Sotheby's from an auction house into a luxury house, not just art.

We're talking a whole Sotheby's lifestyle.

He bought the former home of the Whitney Art Museum in New York City for $100 million to make it the new Sotheby's Madison Avenue headquarters.

Then, for the last two years, Sotheby's has opened restaurants in New York, London, Paris.