2010 - A Good Year for Christie's and Sotheby's

Colin Gleadell writing for the London Telegraph has a short paragraph or two on 2010 sales results for both Christie's and Sotheby's.  Christie's tops $5 billion (including private sales) and breaks its own record set in 2007 (pre Lehman Brothers) while Sotheby's more than doubles it sales to over $4.3 billion.

Gleadell notes Sotheby's stock is now trading at twice what it was earlier this year.

Gleadell reports

Christie’s will announce record global sales of £3.2 billion ($5 billion) for 2010 next month. The figure includes both auction sales and private sales, and just nudges ahead of the company’s previous high of £3.1 billion in 2007. Sotheby’s will announce its figures in dollars, and its website indicates that its global auction sales have almost doubled last years, reaching $4.3 billion, not including private sales.

Sotheby’s shares opened at $47.25 in New York yesterday, more than double the $21.76 low earlier in the year.

To read the full article click HERE (although the two paragraphs I paste is all on the topic)