MarketWatch summarized Sotheby’s earnings call thus:

Sotheby’s reported a profit of $91.7 million, or $1.33 a share, versus a year-earlier profit of $85.4 million, or $1.24 a share.

Revenue ticked up 0.3% to $304.9 million, as the commission margin improved to 15.9% from 15.3%.

Analysts surveyed by Thomson Reuters projected a per-share profit of $1.37 on revenue of $318 million.

Expenses increased 2.4% as the company continues to invest in expanding its digital media offerings and presence in emerging markets such as China.

Sotheby’s highlighted the first half of 2013 this way:

CONSOLIDATED SALES, AUCTION SALES AND PRIVATE SALES ALL UP OVER THE SAME PERIOD IN 2012

•  Consolidated Sales totaled $3.14 billion
•  Auction Sales totaled $2.57 billion

ASIA

• The global bidding activity of Asian collectors at Sotheby’s in the first half of 2013 has already surpassed that of the whole of 2012
• Sotheby’s is celebrating its 40^th anniversary in Asia this year
• Having become the first international fine art auction house in China, further information regarding Sotheby’s activities in Beijing will be announced this autumn

PRIVATE SALES

• 65% of clients who transacted with us privately in the first half of 2013, did so for the first time
• Already in the second half of the year, several significant private transactions have been concluded
• S|2, the private sale and gallery arm of Sotheby’s Contemporary Art department, will host concurrent shows in New York, London and Hong Kong this autumn, following the opening of a new, dedicated space in London

SOTHEBY’S IS A PIONEER IN BROADENING THE ART MARKET

• In the first half of 2013, we have seen clients participating with us in a number of new ways and in a number of new categories
• Nearly 40% of all bids executed in the first half of 2013 came from existing clients who were bidding in a new category for the first time
• More than 30% of all clients participating in our global salesrooms registered for their paddle on our website
• In London in June, one in ten registered bidders in our Contemporary Evening sale came from the new markets
• Sales at Sotheby’s France totaled more than $137 million, the best first half result since the Company became the first international auction house to hold sales in France more than  a decade ago
• Sotheby’s recent Old Master Painting sales in London brought over $60 million with one third of the works selling to Russian buyers and record numbers of registrants coming from Asia and the Middle East