Sotheby’s posts strong full year results as sales hit $5.5bn
Sotheby’s reported a 12% jump in sales last year to $5.5bn (£4bn). The US-listed auction house said profit, or adjusted net income, improved by 22% from $99.6m to $121.7m in 2017, boosted by an increase in commission and fees.
Auction sales rose 8% to $4.6bn, led by a 29% increase in sales of Contemporary art and a 33% improv…