$38.24
0.51 (+1.35%)
Sotheby's (NYSE:BID)
CAPS Rating:
The Company through its Subsidiary engages in art auction, private sales and art-related financing activities.
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The Company through its Subsidiary engages in art auction, private sales and art-related financing activities.
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Its not just a matter of there always being rich people, and those rich people wanting to collect art, its a matter of what art is put up for auction and the resulting sale. For the next quarter Sothebys has quite an exciting catalog of upcoming auctions throughout the world including a nice share of Impressionist art which always fetches phenomenal money. Additionally, Sothebys dabbles in the prestigous real estate market which just makes sense to provide one-stop shopping to their wealthy clientele. They have survived their price fixing scandal and significantly increased net income in 2007.