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Sotheby’s CEO Earned $6.3 Million in 2012 as Profit Fell

William F. Ruprecht
Sotheby's Chief Executive Officer and Chairman William F. Ruprecht. Source: Sotheby's via Bloomberg

March 26 (Bloomberg) -- William F. Ruprecht, Sotheby’s chief executive officer and chairman, earned $6.3 million in 2012, down 10 percent from a year earlier, as auction sales and profit declined.

Ruprecht received a salary of $700,000, stock awards valued at $4.1 million, “incentive compensation” of $1.2 million and other compensation -- including automobile allowance, club dues and personal financial-planning fees -- of $282,959 according to a filing today with the Securities and Exchange Commission.

The auctioneer’s profit fell 37 percent in 2012, to $108.3 million. Auction sales dropped 10 percent to $3.8 billion.

Its shares rose 17 percent in 2012. They dropped 49 cents today to $37.08 in New York Stock Exchange composite trading, below their peak of $57.64 reached on Oct. 10, 2007.

To contact the reporter on the story: Katya Kazakina in New York at kkazakina@bloomberg.net.

To contact the editor responsible for this story: Manuela Hoelterhoff at mhoelterhoff@bloomberg.net.

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