Sotheby’s Reports Second Quarter Net Income, Down From Same Period Last Year
Art Law
by Lisa Karczewski
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
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