The New York Times has a piece on Sotheby’s recent $89 million profit for the second quarter of 2016, analyzing its approach to the Taubman estate sale and other recent market trends.  “Guarantees on masterworks have generally proven to be attritional to earnings, but in the past they did buy market share,” says adviser Neal Meltzer. “Winning the sale of the Taubman collection was vital to maintaining respect for the Sotheby’s brand.”

Read more at NYT

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