Sotheby’s Has $2.4 Million Profit as Art Market Rebounds
This article is for subscribers only.
Sotheby’s, which aims to sell a Jeff Koons sculpture tomorrow of the Pink Panther embracing a topless blonde for $30 million, reported a first-quarter profit.
The New York auctioneer earned $2.4 million, or 3 cents a share, compared with a loss of $2.2 million, or 3 cents, a year earlier, it said in a statement. Revenue increased 17 percent to $119.6 million.