“There’s more optimism,” David Schick, the director of research and lead luxury analyst at Consumer Edge Research, said. “This is an old brand that’s bringing a lot of new business practices. Some of those initiatives are starting to bear fruit.”What are some of those initiatives bearing fruit? Why private sales, a mainstay of Sotheby's business for decades, particularly in the years after the global financial crisis. All of the fruit harvested in Sotheby's annual report, which resulted in a 60% increase in income over the previous year, comes from Sotheby's traditional businesses. Let's look at how.
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