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Sotheby's - Down and Out or Just Down?
BID
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+32.02%
in
71 days
(closed on 07/30/09)
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 th...
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BID is a seasonal buy
BID
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-48.24%
in
620 days
Every year they perform similarly... They get their first boost in Feb/Mar... Hit a nice stride in April... Make sure you get out by end of summer (August) before its too late for the winter losses. You can peak at the auction calendar and see when their big shows end... time your buy/sell based on their calendar.
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The POZI Scheme will fail
BID
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+26.21%
in
111 days
(closed on 03/17/08)
Who Cares? It's been a long long time since the banking system failed. Investment choices of old money controls the willingness to piss away $40,000,000.00 on a painting. In order for Sotheby to maintain it's image as a the great pompus ass of art dealers it places minumim guarentees on the auctions. A possible example would be when the market says a $40,000,000.00 painting is only worth $10,000,000.00 Sotheby is stuck buying the painting for $20,000,000.00 and then having to dump it descretly for $10,000,000.00 <> Last October's auction that cost Sotheby so much money won't be the ...
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From the Blogosphere
BIDding down for Sotheby's, but high hopes for Q4
Filed under: Sotheby's (BID), Personal finance, Headline news  Sotheby's (NYSE: BID) had a great night this week, tripling the performance of competitor Christie's (OTC: CRUPF). But, it didn't come soon enough to help the company's third quarter results.
<>The auction house suffered from the art market slump that was exacerbated by the global financial crisis, posting a net loss of $57.8 million (89 cents a share). This is worse than the $47 million loss (73 cents a share) it delivered a year earlier. Three analysts that Bloomberg surveyed expected a loss of 29 cents a share. Revenue was off 41...
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Earnings highlights: AIG, Caterpillar, Cisco, News Corp., Procter & Gamble ...
Filed under: Earnings reports, Cisco Systems (CSCO), Caterpillar (CAT), Comcast Cl'A' (CMCSA), Procter and Gamble (PG), Amer Intl Group (AIG), News Corp'B' (NWS), Electronic Arts (ERTS), Sotheby's (BID), Marvel Entertainment (MVL), World Wrestling Entertainment (WWE) Here are some highlights from last week's earnings coverage from BloggingStocks: <> American International Group Inc. (NYSE: AIG) said its earnings report would not include a conference call. Caterpillar Inc. (NYSE: CAT) shares rose after it reaffirmed the 2009 outlook and forecast further growth. <>Cisco Systems Inc. (NA...
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Closing Bell: The down day that didn't feel too down (USU, WFMI, BID, ERTS, TIVO)
Filed under: Whole Foods Market (WFMI), Electronic Arts (ERTS), Sotheby's (BID)  The markets closed down in negative territory, but today will feel like a win to many traders. Each day the news keeps getting a set up for a sell-off and nothing materializes. Bears are even getting frustrated because of no substantial pullbacks. The weaker employment data had little dent, but then the weaker services market kept the rally from emerging today.
Here are today's unofficial closing bell levels:
Dow 9,280.97 -39.22 (-0.42%)
S&P 500 1,002.68 -2.97 (-0.30%)
Nasdaq 1,993.05 -18.26 (-0....
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Sotheby's reports loss but hopes for recovery
Filed under: Sotheby's (BID)  An embittered Sotheby's (NYSE: BID) has turned in its first quarterly profit in a year, showing signs that the worst of the art market slump may be over. The company, which has seen contemporary art auction prices fall 76.2% from May 2008 to today, reported a decline of 87% in earnings for the second quarter, but company CFO William Sheridan says that the worst of this market is behind us. Sell-through rates are up, with more inventory moving likely to help with sagging revenues.
<>But commission revenue seems to be headed in the wrong direction. For Q2, Sotheby's ...
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Art market sucks, Hirst and Prince turn to books
Filed under: International markets, Rants and raves, Russia, Sotheby's (BID), Personal finance, Headline news, Recession, Financial Crisis <> Damien Hirst has gotten to the point where the sound of his own voice isn't good enough - now he needs a record of his thoughts for the ages. He and fellow artist Richard Prince (who actually has some talent) discuss the pains of the art market in Requiem II, which is scheduled to be published by Other Criteria this fall. Of course, Hirst is one of the publishing house's founders, making one wonder if this is the <strike>only</strike> most effective way f...
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