Company Profile For Sothebys

Sotheby's is an auctioneer of fine art, antiques and decorative art, jewelry and collectibles. The Company’s operations are organized into three business segments: Auction, Finance and Dealer. In addition to auctioneering, the Company’s Auction segment is engaged in a number of related activities, including the brokering of private purchases and sales of fine art, jewelry and collectibles. The Company also operates as a dealer in works of art through its Dealer segment, conducts art-related financing activities through its Finance segment and is engaged, to a lesser extent, in licensing activities.

BRIEF: For the nine months ended 30 September 2009, Sotheby's revenues decreased 49% to $266.7M. Net loss totaled $80.1M vs. an income of $35.8M. Revenues reflect a decrease in revenues from Auction, Finance, Dealer segments. Net loss also reflects the presence of restructuring charges, the presence of extinguishments of debt, a decrease in interest income and presence of write off of credit facility amendment fees.