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Michael's Blog
An extremely expensive business to be in

Skate’s Market Research is reporting on how the major public components of the art market fared for 2014. The short answer is, not good, and the worst, according to Skate’s, since 2005. This would be particularly worrying for Sotheby’s, since in 2005 it was just trying to dig itself out of the morass of the price fixing scandal that sent  Sotheby’s chairman Alfred Taubman and CEO Dede Brooks to jail. In precise terms, at December 31, 2014, a share of Sotheby’s is worth 18.8% less than it was on January …

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