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  • Mon, Dec. 5, 8:57 AM
    • Sotheby's (NYSE:BID) says it will establish a scientific research department following the acquisition of Orion Analytical.
    • Orion scientist James Martin will join Sotheby's this week following the acquisition of his firm to add expertise in technical imaging, magnified visual inspection, elemental analysis and molecular analysis.
    • Source: Press Release
    | Mon, Dec. 5, 8:57 AM
  • Fri, Nov. 18, 1:31 PM
    • Sotheby's (BID +1.9%) recent contemporary art sale of 64 lots grossed $276.56M to top expectations.
    • The solid showing could calm some concerns that the election results will impact demand in the art market.
    • "When the election happened we didn’t know what to expect," observes Heinrich zu Hohenlohe from the Berlin branch of Dickinson.
    • Full auction results including prices and pictures
    | Fri, Nov. 18, 1:31 PM
  • Mon, Nov. 7, 12:58 PM
    • Sotheby's (BID +9.3%) trades higher despite showing a sizable loss in Q3.
    • An increase in the company's commission margin rate to 16.5% from 15.3% couldn't offset a lower level of sales in the soft art market.
    • In the auction house's release, CEO Tad Smith referred to some green shoots that could be seen as encouraging.
    • "Underneath our seasonally low level of sales, there were encouraging but tentative indicators that the market could be looking for a rallying point," Smith noted.
    • Previously: Sotheby's misses by $0.16, beats on revenue (Nov. 7)
    | Mon, Nov. 7, 12:58 PM
  • Mon, Nov. 7, 7:04 AM
    • Sotheby's (NYSE:BID): Q3 EPS of -$0.78 misses by $0.16.
    • Revenue of $91.49M (-33.7% Y/Y) beats by $8.59M.
    • Press Release
    | Mon, Nov. 7, 7:04 AM
  • Sun, Nov. 6, 5:30 PM
  • Thu, Oct. 27, 1:26 PM
    • Sotheby's (BID -1.7%) announce the acquisition of The Mei Moses Art Indices for an undisclosed amount.
    • The name of the art market will be changed to Sotheby's Mei Moses.
    • The company says the acquisition will give it a key analytic tool.
    • Source: Press Release
    | Thu, Oct. 27, 1:26 PM
  • Thu, Oct. 6, 7:07 AM
    • Sotheby's (NYSE:BID) says sales in Hong Kong have already achieved the same full year sales total this year as in 2015. Major sales are over $690M YTD.
    • "East Asian confidence and bidding will be a very good thing for upcoming sales," notes CEO Tad Smith.
    • Of note, the recent auctions in East Asia attracted a relatively young generation of participants, with 40%of the bidders below the age of 40.
    • Source: Press Release
    | Thu, Oct. 6, 7:07 AM
  • Wed, Oct. 5, 1:34 PM
    • Sotheby's (BID +3.1%) agrees to purchase 2.05M of its shares back from Marcato Capital. The sale price works to $36 per share.
    • Marcato Capital now holds a 4.9% stake after holding a 9.6% position at the end of June.
    • SEC Form 13D
    | Wed, Oct. 5, 1:34 PM | 1 Comment
  • Mon, Sep. 19, 3:07 PM
    • Sotheby's (BID +0.2%) announces it brought in $63.5M from its New York Asian Art Week auctions.
    • YTD sales for New York Asian Art are called "stable" compared to a year ago.
    • "Given the backdrop of our seasonally low third quarter, in this year an exceptionally weak one, we are encouraged that the strength of Asia Week bodes well for the upcoming sales in our much more meaningful fourth quarter," notes Sotheby's CFO Mike Goss.
    • Source: Press Release
    | Mon, Sep. 19, 3:07 PM
  • Sat, Sep. 10, 3:27 PM
    • Sotheby’s (NYSE:BID) agreed with its largest shareholder, China’s Taikang Insurance Group, to find an independent director for the auction house’s board.
    • Once the search is successful, Taikang plans to enter a support and standstill agreement.
    • Taikang owns 13.5% of Sotheby's.
    | Sat, Sep. 10, 3:27 PM
  • Mon, Aug. 8, 7:46 AM
    • Sotheby's (NYSE:BID) reports a drop in revenue during Q2 with the timing shift of summer contemporary art sales in London a factor. Agency commissions and fees were down 12% to $273.764M.
    • The company's auction margin rate improved 90 bps to 16.4% during the quarter.
    • "While we would certainly prefer to see a stronger art market, we are pleased with the progress we have been making on our strategic initiatives and the beneficial changes to our team and organization," says CEO Tad Smith.
    • Previously: Sotheby's beats by $0.46, beats on revenue (Aug. 8)
    | Mon, Aug. 8, 7:46 AM | 1 Comment
  • Mon, Aug. 8, 7:02 AM
    • Sotheby's (NYSE:BID): Q2 EPS of $1.51 beats by $0.46.
    • Revenue of $298.67M (-10.0% Y/Y) beats by $7.45M.
    • Press Release
    | Mon, Aug. 8, 7:02 AM | 1 Comment
  • Sun, Aug. 7, 5:30 PM
    | Sun, Aug. 7, 5:30 PM | 11 Comments
  • Thu, Jul. 28, 11:59 AM
    • Sotheby's (NYSE:BID) is up 3.6% after Taikang Life Insurance reports its hold a 13.52% stake.
    • The Chinese insurance firm is taking an activist position by already offering up "suggestions" for the Sotheby's board.
    • There's lots of activists in the house at Sotheby's. Third Point already has three members on the board, including Dan Loeb. Marcato Capital Management and Point72 Asset Management also have sizable positions.
    • Short interest on Sotheby's has increased since June which could set the stock up for some added volatility.
    • Previously: Chinese insurance company takes large stake in Sotheby's (July 28)
    | Thu, Jul. 28, 11:59 AM | 1 Comment
  • Thu, Jul. 28, 9:22 AM
    • Taikang Life Insurance took a formidable stake in Sotheby's (NYSE:BID), according to a fresh SEC filing.
    • The Chinese insurance company nabbed 7.918M shares for just under $233M.
    • Taikang now holds a 13.52% position in Sotheby's, a bigger stake than the last reported level of holdings from hedge fund player Third Point.
    • SEC Form 3
    | Thu, Jul. 28, 9:22 AM
  • Wed, Jul. 20, 11:10 AM
    • Sotheby's (BID +2.2%) announces that auction sales in Asia rose 22% to  HKD$3.6B ($462M) during the first six months of the year. The company says more than 80% of lots sold attained prices at or above their mid-estimate.
    • Highlights in Asia included selling three works of art for more than HK$100M and setting sixteen world auction records. Sotheby's says it also continued its strong market leadership in Chinese Works of Art, which achieved a half-year auction total of more than HKD$1B ($130M).
    • Previously: Sotheby's narrows gap with Christie's (July 20)
    • Source: Press Release
    | Wed, Jul. 20, 11:10 AM