antiquesandartireland.com

Information about Art, Antiques and Auctions in Ireland and around the world
  • ABOUT
  • About Des
  • Contact
  • GREAT RESULTS FROM SOTHEBY’S, OUTLOOK GOOD

    Sotheby’s delivered net income of $161.0 million in 2010, which apart from peak of the boom 2007 is the best yearly result ever.  “It is a remarkable accomplishment,” said Bill Ruprecht, President and Chief Executive Officer.  “The recovery of the global art market which was aided in part by the increased buying activity of clients from new markets certainly contributed to these results, as did the difficult decisions we had to make beginning in the autumn of 2008 – the headcount reduction, tightening of our cost structure and steadfast focus on auction commission margins – which have paid off considerably.
    The positive moment is continuing into 2011. “Overall, aggregate auction sales through the first two months of 2011 solidly improved from the first two months of 2010. We hope that 2011 will be another strong year for Sotheby’s and for the art market,”  Bill Ruprecht said.

    Comments are closed.