Cramer's 'Mad Money' Recap: A Sotheby's Bid of Confidence

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Sotheby's (BID) is the "ultimate high-end play," with both "violent upward momentum" and the safety of being "inflation-proof," Jim Cramer told viewers of his "Mad Money" TV show Friday.

Shares of the auction house have had "a terrific run-up" recently, he said. Even though the stock has doubled since Cramer recommended it last May at $24, he said, he is "not ready to leave the ballpark yet."

May is always the best auction month, and Sotheby's should go up even more, Cramer said. "I'd buy it next week and sell it going into the auctions on May 8, or even a little before then." Sotheby's closed Friday at $48.31.

Although the May auction should be priced into Sotheby's already, the fact of the matter is that "the market isn't sane at all" and that most of the analysts covering the stock have been wrong all the time it's gone up.

Cramer said he's recommending Sotheby's as a May trade or as a long-term investment.

Sotheby's is the "perfect fit," he said, for the "billionaire society." After all, the best way to let everyone know you're rich is by buying expensive artwork and collectibles, he said.

"It is the play off of the rich getting richer," Cramer said. Plus, it has "strong earnings," and its estimates are "way too low."