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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

Art Agency, Partners will lead a new fine-art unit within Sotheby's. This means the long-time specialists at Sotheby's will have to report to the new group, which includes Ms Cappellazzo, Mr Schwartzman (centre) and Mr Chinn.

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...