Investors Making a Bid on Sotheby's
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BID
NEW YORK (TheStreet) -- Shares of Sotheby's(BID Quote) are jumping in afternoon trading, after the auctioneer announced that a Warhol painting raked in $43 million.
The silk-screen "200 One Dollar Bills" sold for $43.8 million at Sotheby's contemporary art auction on Wednesday, nearly four times the estimate of $12 million. The auction, in total, garnered $134.4 million, possibly signaling a return of high-end investors. All but two of the 54 lots were sold. Shares of Sotheby's are growing 5% to $18.43 in Thursday afternoon trading. -- Reported by Jeanine Poggi in New York Follow TheStreet.com on Twitter and become a fan on Facebook.- Loading Comments...
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