Sotheby's (BID) Pulls Off Successful Auction Last Night
Tweet
Share
E-mailGet Alerts BID Hot Sheet
Join SI Premium – FREE
Last week, there was concern that the luxury buyer was dead and the expensive auction market was slowing down. Sotheby\'s (NYSE: BID) stock plummeted from $50 to $35 last week as well. Today, Sotheby\'s is trading up $3.19.
Sotheby\'s held the biggest auction in its history last night, selling $315.9 million of contemporary art.
"This really shows the market is strong,\'\' New York dealer Spencer Brownstone said. ``There was a lot of trepidation about what was going to happen.\'\'
Sotheby\'s benefited from the momentum generated Nov. 13 at Christie\'s International\'s contemporary art sale, which totaled $325 million and set 12 auction records for individual artists.
Sotheby\'s held the biggest auction in its history last night, selling $315.9 million of contemporary art.
"This really shows the market is strong,\'\' New York dealer Spencer Brownstone said. ``There was a lot of trepidation about what was going to happen.\'\'
Sotheby\'s benefited from the momentum generated Nov. 13 at Christie\'s International\'s contemporary art sale, which totaled $325 million and set 12 auction records for individual artists.
You May Also Be Interested In
- McCormick board member to resign after CFO appointment at Best Buy
- IP Strategy Holdings receives Nasdaq noncompliance notice over late 10-Q
- Volitionrx Limited (VNRX) files for 10M share offering by selling stockholders
Create E-mail Alert Related Categories
Corporate News, Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
