Posted on March 1, 2012 by Daniel Schnapp

26% Quarterly Profit Drop for Sotheby's

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Bloomberg reports that Sotheby's (BID) saw 26% profit losses in the fourth quarter of 2011 as sales fell.  Net income fell to $71.5m from $96.2m last year.  This is especially interesting as fourth quarter 2010 was its most profitable since 2008.

[This entry was drafted with the assistance of Nicole Dornbusch].

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