This week was a disaster for Sotheby's
Thomson Reuters
It has been a disastrous week for Sotheby's.
The stock has crashed 14% over the past five days, and it is now down 54% in 12 months.
The latest dive started Thursday, when the stock fell 17% after dismal sales numbers out of London.
Earlier in the week, Sotheby's Contemporary Evening Sale hauled in 44% less cash than it did a year before, prompting The Wall Street Journal to write that the art market was officially "in a correction."
The writing's been on the wall for a while. Читать дальше...