In the latest sign of trouble at Sotheby’s, artnet News reported that the company’s second-quarter report displayed a significant drop in private sales. (As opposed to public auctions, in a private sale, Sotheby’s is consigned a work of art and then privately approaches individuals about buying the work.) For the first half of 2014, Sotheby’s made $294 million in private sales, as compared with $561 million over the same period in 2013. That’s a 48 percentage point drop.
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