Since February of 2011, Sotheby’s stock valuation has been on a slow decline, signaling a potential downturn in the global art market. Â Earnings per share, recorded last year at $2.46, are now down to $1.68, and sales are projected to fall 9.4%, caused in part by a weaker asian market than 2011’s record setting year. Â Analysts are comparing the current state of the art market to the dot com bubble of the the early 2000’s. Â “It hearkens back to what the Japanese were doing with buildings in New York in the late 1980s.” says Yale University lecturer Vikram Mansharamani.
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