Sotheby's CEO Answered Analysts Questions

Sotheby’s CEO Bill Ruprecht answered questions during a conference call on Nov 9th.
Q: Mr. Dionisio: “In the last 72 hours, you and Christie’s brought $1 billion of art onto the market. Was that too much volume? There’s only so many billionaires in the world out there buying art.”
Mr. Ruprecht: “Hindsight is a wonderful thing. But the fact that we sold 10 pictures for more than $10 million, instead of only seven [$10-million-plus] pictures in May, suggests there’s plenty of demand and that people will continue to have an appetite to own them.” [from wsj online]
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