Skate's Market Notes
Sotheby's 2011 Financial Results
Auction Sales Reach $4.2 Billion, Private Sales Make Up 25% of Activity, Finance Sector Increases by 24%, and Strong Hong Kong Sales Results Lead to Strategic Expansion in Asia
The global auction market has long been viewed as an intensely competitive duopoly, but at the end of the day it is Sotheby's that is obliged to publish its financial results in line with public listing regulations. On February 29, Sotheby's released its 2011 results, which we discuss in this issue of Skate's Market Notes.
Among the companies present in Skate's Art Stocks Index, Sotheby's provides an exceptional example of transparent financial disclosure that could be learned and replicated by other publicly traded companies in the art industry. On the other hand, such disclosure might provide information to parties looking to act against the auction house...
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