Business

Sotheby's earnings are on fire
by Ana Maria Ciobanu

International auction house Sotheby's recorded a 48 percent jump in earnings as investors have flocked to purchase the art works of Claude Monet, Mark Rothko and Francis Bacon. The company's revenue has beaten all the analysts' expectations. The analysts estimated Sotheby's revenue at $319.35 million but Sotheby brought in $339.5 million. The company's contemporary art series sales in New York include Mark Rothko's "White Centre (Yellow, Pink and Lavender on Rose)". The work of art had an estimated price of $40 million and it sold for $72.8 million. This was the highest price of any contemporary art work sold at the auction. Sotheby's was born in England in 1744 and its father was Samuel Baker, the founder of the auction house. He sold back then some old or valuable books for a few hundred pounds. Two hundred years later, in 1983 the company sold a single book for more than eight million pounds. The company has more than 35 locations worldwide To find out more about the prestigious Sotheby's company visit their Web site at http://www.sothebys.com/ Art is a symbol of emotions and feelings, it represents life itself and the act of creation but it seems what's really so great about it is that emotions are tied to simple huge numbers...

by Ana Maria Ciobanu for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

posted by Blog TechSource @ 1:46 PM