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News Breaks | | | | September 17, 2012 | | 16:50 EDT |  | BID | Sotheby's entered into an auction guarantee in the amount of $50M
On August 17, Sotheby's filed a Form 8-K under Item 2.03, "Creation of a Direct Financial Obligation under an Off-Balance Sheet Arrangement of a Registrant," reporting that it had entered into an auction guarantee in the amount of $50M covering three items that will be offered at an auction in November 2012. The minimum guaranteed price under this auction guarantee is within the range of the aggregate pre-sale auction estimates for the underlying property. On September 17, Sotheby's entered into an irrevocable bid arrangement with an unrelated counterparty who has contractually committed to bid a predetermined price on the most significant lot under the guarantee, thereby reducing Sotheby's exposure by approximately 50%. | |
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News For BID From The Last 14 Days Check below for free stories on BID the last two weeks. |
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| May 15, 2013 | | 07:12 EDT |  | BID | Sotheby's auction reaches $294M, Bloomberg reports
A monumental Barnett Newman canvas sold for a record $43.8M at a $294M Sotheby’s auction, as contemporary art prices rose with stocks, and as speculation returns to the market, reports Bloomberg.Reference Link | | | 06:08 EDT | | BID | On the Fly: Periodicals Wrap-Up
 Subscribe for More Information | | | May 9, 2013 | | 16:03 EDT |  | BID | Sotheby's reports Q1 EPS (33c), consensus (12c)
Reports Q1 revenue $101.7M, consensus $116.9M. The decrease is largely due to the decline in auction commission margin and to a lesser extent, an 8% increase in operating expenses, which in large measure is attributable to planned investments in support of Sotheby's strategic initiatives, including the development of Sotheby's presence in growth markets. | | | 15:27 EDT | | BID | Notable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include priceline.com (PCLN), consensus $5.27; Public Storage (PSA), consensus $1.62; NVIDIA (NVDA), consensus 10c; CareFusion (CFN), consensus 53c; Assured Guaranty (AGO), consensus 68c; Medivation (MDVN), consensus (41c); Great Plains Energy (GXP), consensus 12c; Salix Pharmaceuticals (SLXP), consensus 68c; Air Lease (AL), consensus 38c; Sotheby's (BID), consensus (12c). | | | May 8, 2013 | | 06:18 EDT | | BID | Cezanne's ‘Les Pommes’ sells for $41.6M at Sotheby’s, Bloomberg reports
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