Sotheby's experiences surprisingly high loss

A buyer at Sotheby's is now required to pay the highest premiums in the auction business. It will be interesting to see how this strategy succeeds in a falling market. Sotheby´s shares prices reacted negatively to these reports and fell by more than 10% on the day of publication. Despite the successful New York Contemporary Auction, the stock is currently at $25, only slightly above its annual low but significantly below its annual high of $61.40 in October 2007.

back

back to overview