Art Law
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Art Law is written by the IP & Art Law team at Fox Rothschild and offers legal issues and updates in the art space.
Art Law
6y ago
In recent art world news, Sotheby’s reported a $57.3 million net income in the second quarter of this year in a recent earnings call earlier this week. This figure represents a decrease of $19.6 million or about 26% in comparison to the same period last year when the auction house reported that it had $76.9 million in net income.
Sotheby’s attributed the decline in part to a change in its auction calendar as some sales in Hong Kong occurred in the first quarter instead of the second quarter. The auction house also attributed the decline to a decrease in its auction commission margin.
While ..read more