This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sotheby's Reports First Quarter 2013 Financial Results

Also last month, Sotheby's Contemporary Art sale in Doha brought outstanding results. The sale totaled $15.2 million, a record for a sale of Contemporary Art in the Middle East region and towards the high end of the pre-sale estimate. Records were set for nine artists, including a record for a living Arab artist. Bidders from fifteen countries across four continents participated in the sale which affirms the growing importance of Qatar in the international art world.

Sotheby's April sale of Magnificent Jewels in New York brought $53.5 million, the highest ever total for a spring sale of jewelry at Sotheby's New York and above the pre-sale estimate of $36/$49 million. Highlighting the sale was an exceptional pear-shaped diamond of nearly 75 carats which sold for $14.2 million, the record for any white diamond sold in the Americas.

Upcoming Sales

In New York next week, Sotheby's Contemporary Art sales have a number of exciting works on offer. Among them are Francis Bacon's Study for a Portrait of P.L., which has not been seen since 1972, Gerhard Richter's historic and large scale Domplatz Mailand, and Barnett Newman's masterpiece Onement VI.Each work carries a pre-sale estimate of $30/40 million and the sales series has a total pre-sale estimate of $350/$475 million.

Also next week is Sotheby's Magnificent Jewels sale in Geneva. Highlighting the 600+ lot sale is a 27.9 carat, D color and Internally Flawless Magnificent and Very Important Diamond Ring. The ring has a pre-sale estimate of $4/$6 million and the total sale has a pre-sale estimate of $53/$79 million.

Sotheby's is proud to present a major exhibition of works by Jean-Michel Basquiat. Featuring over 30 works, the exhibition will showcase seminal pieces in a variety of mediums and from a range of important dates in the artist's oeuvre. The carefully curated grouping explores the key themes Basquiat grappled with during his career and the variety of media he used to express them. The exhibition opens at a pivotal moment of appreciation for both the artist's career and market with major museum exhibitions and gallery shows presented and record prices achieved in recent years. This exclusive selling exhibition opened last week at our S|2 gallery in New York and will continue through June 9 th.

Note: Estimates do not include buyer's premium. Sale totals for auctions discussed in this release include buyer's premium.

All Sotheby's Press Releases and SEC filings are available on our web site at . An outline of the conference call will be available at .

Sotheby's will host a conference call at 4:45 PM EDT on May 9, 2013, to discuss its first quarter 2013 financial results. Please dial 888-371-8897 and for callers outside the United States, Puerto Rico and Canada, please dial 1-970-315-0479, approximately 15 minutes before the scheduled start of the call. The call reservation number is 28563641.

4 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.21 -0.44%
FB $117.80 -0.22%
GOOG $701.26 0.80%
TSLA $211.34 -5.00%
YHOO $36.94 2.60%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs