Sotheby’s announcement that its quarterly loss narrowed 35 per cent in the third quarter has resulted in a 6.1% drop in share value as the auction house prepares its Contemporary Evening sale tonight.  “The buyers are getting more discerning,” says CEO Tad Smith.  “That is emblematic of a market that is solid. It creates buyers that are discerning, quality-oriented, but careful.” 

Read more at Financial Times

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