Paul Kastel, founder of the influential Canadian Kastel Gallery, is closing after 45 years in business.

Dealer Kastel Closes Landmark Art Gallery — the famed Montreal art dealer Kastel Gallery has closed after 45 years in business. Paul Kastel’s first sale in the late 50s was an A.Y. Jackson, for CAN$275, (now worth CAN$20,000). [WE]

Sotheby’s Holdings, Inc. Announces 2005 Fourth Quarter and Full Year Results — Sotheby’s had revenues of over US$200 million in its fourth quarter, a record attributed to the blazing art market. Revenues for all of 2005 were US$513 million. [MSNm]

Tallinn’s new art rumour — The capital of Estonia, Tallinn, is getting a brand new national art gallery, called KUMU, or “rumour” in Estonian. [SaS]