Auctions are subject to how wealth the rich really feel. Some bad news on the stock exchange the bids start to shrink and the offers grow. Not good for driving up prices. The share price is inherently correlated to the economy and there are better ways to play that position.
If the deal with eBay disappoints Sotheby’s may fail to prove itself effectively on the internet. Who will have to most loss of prestige? EBay who should be ruling the internet or Sotheby’s who has a reputation over a hundred years.
George Gutowski writes from a caveat emptor perspective.