Sotheby’s Rallies Most Since 2011 on Higher Profit, Margins

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  • Lower expenses, better margins, Asian sales drove net income
  • CEO Smith sees art market ‘paradox’ with reluctant sellers

Sotheby's Rallies Most Since 2011 on Asian Art Sales

Sotheby’s rallied the most in more than four years as lower costs, improved commission margins and a jump in Asian art sales fueled higher earnings at the auction house.

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