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$14.64 -2.38 (-13.98%)
10/6/2008 4:03 PM

Sotheby's (BID)

CAPS Rating:
*****

The Company through its Subsidiary engages in art auction, private sales and art-related financing activities.

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3

Avatar KerdosDotCom (48.99) Submitted: 8/22/07 8:41 AM : Outperform Start Price: $38.71 BID Score: -34.38

A unique company. No other company of its kind is now public. Period. Almost everything it sells is at record prices. Acts as an agent. No inventory, no hassles, no risks. Just prestige, fun, connections, and profits. Always buy on dips.

Best regards

Angelo Grigoropoulos
Kerdos.Com

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Avatar SidBord (21.65) Submitted: 9/06/07 10:59 PM

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I thought so too, and I bought it. That may have been a big mistake. I'm discouraged because it hasn't been able to recover from the recent big drop. It's 20-day average is $42.38, and todays (9/6/07) closing stock price was $41.12. It recently went above the 20-day and 30-day averages on two occasions, but then fell back below them. It is still 22.8% below its high ($53.29) on July 16, 07.
I guess my problem with this company is I don't understand where its profits are coming from, other than commissions on sales. It doesn't produce anything except the service of holding auctions. That seems very iffy. How can one estimate what it's future earnings will be? Why would one think that its earnings will increase? What measure is used??

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