I still think it's a good company. Last year stunk. But is this a good entrance into the stock? I think it will. You see, Sotheby's cannot be replaced. It performs a unique job that even eBay cannot touch (eBay has had a chance to touch it, and has failed, time and again). This is not to say eBay is a bad company or stock (even though I closed my SP position about a week ago). However, Sotheby's just has that "it" factor. It makes money in the long term. It is a wonderful business. I feel it is at an attractive price. I am long on this piece. I do not shoot for the stars with these picks. I pick the ones I think will go up, and will be content selling even at the cost a missed opportunity on the up-side.
$10.68 (05/20/09)
