Sotheby’s Second-Quarter Profit Drops 33% on Lower Net Auction Sales

August 7, 2012

Sotheby’s (BID) second-quarter earnings fell 33% as the auctioneer saw a decrease in net auction sales in the typically strong quarter.

The auction house in May sold Norwegian painter Edvard Munch’s “The Scream” for $119.9 million, the most ever paid for a work of art at …

Article source: http://online.wsj.com/article/BT-CO-20120807-717560.html

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