What High-End Art Says About Rich Investors Right Now [The Motley Fool]
SOTHEBYS (BID)
Last sothebys earnings: 5/2 07:00 am
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Source: The Motley Fool
Results from a well-known auction house reveal a couple of key trends. The stock market isn't the only way that people get rich. The market for high-end art and collectibles draws a loyal crowd of the well-to-do, and the ups and downs of art prices are often even more volatile than stocks. By looking at the performance of companies like venerable auction house Sotheby's ( NYSE:BID ) , you can get some valuable insight into the thought process that art collectors have and glean clues about their willingness to pay top dollar for some of the most famous works of art in history. Sotheby's recently released its second-quarter financial results, and the company's performance generally reflected a healthy market for art and collectibles. Yet a couple of items that came up in the quarterly report point to some unusual activities that reveal the way some rich investors are behaving right now. That in turn could help typical investors understand better how the changing fortune
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