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Sotheby’s Shows Signs of Getting More Aggressive on Auction and Third Party Guarantees

August 27, 2014 by Marion Maneker

Sotheby's Headquarters

Sotheby’s filed an 8-K which contains some information on the increase in a facility to provide auction guarantees. This information comes after a Summer when collectors and buyers report that Sotheby’s has become more aggressive in soliciting third-party guarantees for works in the $1-2m range:

Increase the maximum permissible amount of net outstanding auction guarantees (i.e., auction guarantees less the impact of related risk and reward sharing arrangements) from $300 million to $600 million.

Sotheby’s Holding, Inc. – Current Report.

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