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Sotheby's posts US$11.2m Q4 loss; its two top dealmakers leave
Many attribute departures to its acquisition of an art advisory business run partly by ex-Christie's exec
Published Sun, Feb 28, 2016 · 09:50 PM
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New York
ON Friday, one day after the announced departures of two of its top dealmakers, Sotheby's reported a loss of US$11.2 million for the fourth quarter, confirming a bumpy road ahead in a period when the art market may be softening.
"Sotheby's has a lot of work to do" given that "the revenue cycle is compressing, or the pendulum is swinging away", said David Schick, an analyst who follows Sotheby's. The financial results were …
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