Fourth quarter of 2009 brought the company's 73.6 million - the highest result for this period after a record 2007

According ARTINFO.com, over the last three months of 2009, auction house Sotheby's has earned 73,6 million dollars - the highest result since 2007, when the fourth quarter brought a record 102.4 million.

Sotheby's managed to improve their situation by giving up guarantees, which in 2008 cost the company 52.6 million dollars. Besides, the price correction was discovered and pleasant side: the lower the cost of work, the more commission the auction house. Buyers of the most inexpensive products (up to 25 thousand pounds sterling) are obliged to give Sotheby's as much 25 percent. Last year the company received a $ 21 commission on every hundred (in 2008 there were only 16 dollars).

Auction sales last year fell by 54 per cent to 2.3 billion dollars ( a chief competitor, Christie's, the result of better: in January, company representatives said that they were able to sell works of art on 2,9 billion dollars). But the total value of works sold privately, has increased by 27 percent and amounted to 472,6 million dollars.

Sotheby's share price in 2009 increased more than twofold, but did not reached even half the peak value, which was registered in October 2007.

2010, as we know, began to Sotheby's a very well: the auction of impressionists and modernists, February 3 sculpture by Alberto Giacometti (Alberto Giacometti) «walking man I» brought 104.3 million and became the most expensive piece of art from all that has ever appeared at a public auction . Say that the work acquired Lily Safra (Lily Safra), the widow of a Brazilian banker Edmond Safra (Edmond Safra).

article prepared by Julia Maksimova, AI

Sources: artinfo.com , bloomberg.com , sothebys.com , artinvestment.ru