Sotheby’s CEO Talks Art in the New Macro Environment

Sotheby’s Tad Smith was on Squawk Box this morning on CNBC:

“Everywhere I go around the world, and really for almost 15 or 16 months, we’ve had a large group of buyers that have plenty of money to spend and they want to buy things. The trouble particularly in the last six to 12 months has been there hasn’t been enough that they were offering,” Smith said.

“As long as we have a good, confident week, and I think we’re going to do that, we’re going to have more offered in the spring. That will free up the buyers. It’s convincing those sellers that the buyers are there — that’s the big opportunity.”

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