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News In Brief

Sotheby’s releases improved figures

Higher auction margins and private sales have boosted Sotheby’s most recent results. Figures for the first quarter of 2017 show an improvement on the same period last year.

Auction margins – effectively the saleroom’s average cut when an object sells at auction – increased from 15.4% to 18%.

Higher returns from private sales, which were up 41% for the quarter, were also an important factor. For the first quarter of 2017, Sotheby’s reported a net loss of $11.3m which was a $14m improvement over last year.

Posting a first-quarter loss is not unusual given the main auction series occurs in the second and fourth quarters of the year.

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About Antiques Trade Gazette

Antiques Trade Gazette is the essential publication for everyone with a serious interest in art, antiques and collectables. Every week it is packed with up-to-the-minute news on the market, with individual items beautifully illustrated throughout. Since 1971 it has been the most reliable source of information on what is really happening at auctions in the UK and around the world. Each issue is filled with auction advertisements and detailed auction reports written by expert journalists. The Dealer’s Diary section keeps readers constantly updated on what is happening at the fairs and markets and in the galleries and shops. Market professionals and serious collectors throughout the world rely on ATG to keep them informed on developments and issues which shape the art market. It is here that they learn about the prices achieved at auction in every area - from antiquities to pop memorabilia, from impressionist paintings to Chinese art. With 500 or more art objects pictured, every issue is a treat to the eye and a visual education. Whatever the topic Antiques Trade Gazette is well-informed, up-to-date and entertaining.

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