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What Does Sotheby’s Mean When It Says It Raised Buyer’s Premium to ‘offset margin pressure’?

October 19, 2016 by Marion Maneker

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The Art Newspaper homed in on Michael Goss's Sotheby's CFO's comments in a statement explaining why the auction house was raising its buyer's premium:

“We made this decision for two principal reasons: first, to offset margin pressure, particularly at the high end of our business where these changes are focused; and second, to continue to invest in improving our client experience in all aspects of our business.”

When Goss talks about margin pressure, he's acknowledging


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About Marion Maneker

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