Sotheby’s Chief Executive Officer William F. Ruprecht earned $7 million in 2011, up 18 percent from a year earlier, as the New York auction house reported the second-most-profitable year in its history.
Ruprecht received a salary of $700,000, stock awards valued at $4.2 million, “incentive compensation” of $1.9 million and other compensation -- including automobile allowance, club dues and personal financial-planning fees -- of $230,056 according to a filing today with the Securities and Exchange Commission.
“Mr. Ruprecht was responsible for securing a number of the company’s most high-value and successful auction and private sales consignments,” Sotheby’s said in the filing.
The auctioneer had profit of $171.4 million last year, second only to 2007, when it earned $213.1 million.
Its shares fell 37 percent last year, and dropped 57 cents today to $39.94 in New York Stock Exchange composite trading. The shares are below their peak of $57.64 reached on Oct. 10, 2007.