BID - Sotheby's

NYSE - NYSE Delayed Price. Currency in USD
0.0000
-56.9900 (-100.00%)
At close: 4:00PM EDT
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Previous Close56.9900
Open56.9800
Bid0.0000 x 4000
Ask0.0000 x 21500
Day's Range56.9800 - 57.0000
52 Week Range32.0100 - 59.9400
Volume1,548,678
Avg. Volume534,018
Market Cap0
Beta (3Y Monthly)N/A
PE Ratio (TTM)0.00
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
Trade prices are not sourced from all markets
  • Bob's Watches and Sotheby's Collaborate on Rare Driving Watch Auction
    Yahoo Finance Video

    Bob's Watches and Sotheby's Collaborate on Rare Driving Watch Auction

    It's classic car week at Monterey, leading up to Sunday's big show at Pebble Beach. But - it's not just classic cars that fans are flocking to see -- rare watches are in the spotlight as well. Inspired by a group of classic cars highlighting RM Sotheby’s auction, each of the 18 watches on offer in "Watches Online: The Driver’s Collection" were selected by Jonathan Burford, Sotheby’s Watches and Clocks Specialist in Los Angeles, along with partner Bob’s Watches, to pair with a car on offer in the auction. Jonathan Burford joined The Final Round to discuss.

  • James Bond Aston Martin DB5 now up for auction
    Yahoo Finance Video

    James Bond Aston Martin DB5 now up for auction

    It's considered one of the most famous cars in the world; the James Bond's Aston Martin DB5, that is. And it's up for auction and could sell for $6 million dollars. Barney Ruprecht who is RM Sotheby's Senior Car Specialist, joins 'On the Move' to discuss more.

  • Why luxury watch makers like Bremont are having their moment
    Yahoo Finance

    Why luxury watch makers like Bremont are having their moment

    Bremont, which began making watches in 2002, wants to bring British watchmaking back. The brand’s watches are inspired by, but not limited to, the British armed forces, famous cars, and legendary airplanes. Bremont’s latest watch is a very limited creation, with some very interesting bits.

  • American City Business Journals

    This Pacific Heights mansion could tie record for most expensive S.F. home ever sold

    The $39 million listing includes a double staircase with zebra-print carpeting, a Union Jack mosaic above a fireplace and a pub with an antique bar from an old British tavern.

  • Moody's

    BidFair MergeRight Inc. -- Moody's assigns B1 to BidFair MergeRight (Sotheby's) sr secured bonds

    Moody's Investors Service ("Moody's") assigned a B1 rating to the proposed $550 million senior secured notes due 2027 issued initially by BidFair MergeRight Inc. ("BidFair") which will be merged with and into Sotheby's as the surviving entity. The proceeds from the proposed secured note offering, a proposed $550 million bank term loan, and approximately $1.45 billion of cash equity will be used to acquire Sotheby's equity ($3.7 billion), repay its outstanding debt ($990 million) and pay transaction fees and expenses. Sotheby's existing operations will be split into three subsidiaries, the legacy Sotheby's auction business (which forms the credit group for the notes and bank facilities) and two non-recourse subsidiaries, that will run Sotheby's financial service operation and the other that will own and lease the London and New York offices to Sotheby's.

  • Daniel Loeb's Top 5 Holdings as of the 2nd Quarter
    GuruFocus.com

    Daniel Loeb's Top 5 Holdings as of the 2nd Quarter

    Activist guru’s top holdings include Baxter and United Technologies Continue reading...

  • Insider Monkey

    Here Is A Groundbreaking Investment Idea For Hedge Fund, Fixed Income and Gold Investors

    Hedge funds aren’t what they used to be. They used to be exclusive investment vehicles where wealthy investors could generate double digit alpha with very little correlation to the major market indices. Nowadays most hedge funds don’t deliver uncorrelated returns at all and they generate minuscule returns after fees and expenses. I am not saying […]

  • Will Copart's (CPRT) Expansion Drive Bolster Q4 Earnings?
    Zacks

    Will Copart's (CPRT) Expansion Drive Bolster Q4 Earnings?

    High activity levels in the United States and expansion efforts in European markets, primarily in the United Kingdom and Germany, are likely to boost Copart's revenues in fourth-quarter fiscal 2019.

  • Auction of one-of-a-kind Porsche falls apart after bizarre bidding error
    MarketWatch

    Auction of one-of-a-kind Porsche falls apart after bizarre bidding error

    A much-hyped car auction sputtered out in the weirdest way Saturday. A 1939 Porsche “Type 64,” the only of its kind still existing, was expected to sell for around $20 million at an auction by RM Sotheby’s (BID)  in Monterey, Calif., on Saturday night. Auction-goers heard bidding start at $30 million, then $40 million, and as the now-abuzz crowd gasped and cheered, it quickly zipped up to $70 million — a record price for any car auction.

  • Barrons.com

    The $2 Billion Break-Up Fee in Sotheby’s Merger Agreement

    Sotheby’s could receive almost $2bn in damages if French media tycoon Patrick Drahi’s walks away from his $3.7 billion takeover bid

  • Sotheby's, the Billionaire and the Reserve Price
    Bloomberg

    Sotheby's, the Billionaire and the Reserve Price

    (Bloomberg Opinion) -- Sotheby’s is under fire for accepting a $2.7 billion takeover bid from billionaire art lover Patrick Drahi. The handling of the sale reflects poorly on the board, even if it led to a generous offer relative to where the stock was trading.The venerable auctioneer received a takeover approach from a group of unidentified private equity investors in December. Others, including Drahi, followed. As the shares fell from nearly $60 in the middle of 2018 to less than $40 by the year-end, the board should have been on alert to repel opportunistic approaches. It doesn’t look that way judging by the timeline set out in Sotheby’s regulatory filings.The buyout consortium said it thought the auctioneer was worth a mere $50 a share. The board rejected this – but without much conviction. In fact, it offered the bidder help to raise the price. That would have given the impression Sotheby’s was keen to sell itself. Doubtless encouraged by the board’s friendly rejection, the private equity group raised its offer to a still ungenerous $52.50 a share in May.Meanwhile, Drahi and a host of others were sniffing around. Board members discussed the correct price for any deal, but they couldn’t agree. The designated director for Sotheby’s biggest shareholder, Chinese insurer Taikang Asset Management, suggested $100 a share.A knockout bid still hadn’t emerged. Time to get on with the day job? No. A message was conveyed to Drahi that the board was open to a deal and “certain directors” would back one at $65 a share. Faced with this blatant come-on, the billionaire refused to make the desired offer.A board confident in its view of the company’s intrinsic value, and unswayed by short-term share price falls, would surely have left it there. Not Sotheby’s. It invited Drahi to “get as close as he could” to a price “in the $60s”. He still didn’t oblige.Sotheby’s lowered its target to $57.50 a share. An intermediary was told that Third Point LLC, an activist that owns 14% of the company and controls several board seats, was ready to sell at the right price. Drahi called the board’s bluff once more, returning with a $57 a share offer in June.Sotheby’s buckled and also agreed to pay Drahi $111 million if a gatecrasher came along. His offer was at a big 61% premium to then share price, but largely because the stock had fallen further.Obviously boards should have diverse opinions. Still, couldn’t Sotheby’s have come to a solid view of what it was worth and stuck to it? If some directors think the company is worth $65 a share – barely above where the shares traded last year – why was it backing this deal? Or was that number a tactical ploy? As unhappy U.K. shareholder RWC Partners notes, the auctioneer only used the more pessimistic of its internal financial forecasts as it weighed up its future as an independent company.The board was at least right not to try to get an auction going or solicit a firm offer from Taikang: it’s far from certain a Chinese bidder would be able to complete a deal. Above all, Sotheby’s shouldn’t have been actively trying to sell itself in the face of bad offers.If a deal is too cheap, an auction will follow. The snag here is that the break fee adds to the cost of any counter-bid. At 3% of Sotheby’s enterprise value, it is unhelpful to shareholders but not an insurmountable obstacle. The board’s tactics could yet be vindicated if an auction gets going.To contact the author of this story: Chris Hughes at chughes89@bloomberg.netTo contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Classic 1939 Porsche Type 64 - 'The Ancestor of All Porsches' - Goes to Auction
    TheStreet.com

    Classic 1939 Porsche Type 64 - 'The Ancestor of All Porsches' - Goes to Auction

    It might be a little worse for wear, but it comes with spare parts. Take a look at these pictures of the 90-year-old race car that birthed today's Porsches -- and which could fetch millions at auction this month.

  • GuruFocus.com

    Daniel Loeb's Third Point 2nd-Quarter 2019 Investor Letter

    Discussion of markets and holdings Continue reading...

  • One man purchased Nike's 'Moon Shoes' (and 99 other pairs) for an astounding $1,287,500
    Yahoo Finance

    One man purchased Nike's 'Moon Shoes' (and 99 other pairs) for an astounding $1,287,500

    International collector, philanthropist and entrepreneur Miles S. Nada purchases "The Ultimate Sneaker Collection"l for a whopping $1,287,500.

  • Reuters

    UPDATE 1-Nike shoes race to $437,500 world record auction price for sneakers

    The so-called Nike "Moon Shoe," designed by Nike co-founder and track coach Bill Bowerman for runners at the 1972 Olympics trials, was the top lot in the first-ever auction dedicated to sneakers at Sotheby's auction house in New York. Sotheby's said the price was a world auction record for a pair of sneakers.

  • Nike shoes race to $437,500 world record auction price for sneakers
    Reuters

    Nike shoes race to $437,500 world record auction price for sneakers

    The so-called Nike "Moon Shoe," designed by Nike co-founder and track coach Bill Bowerman for runners at the 1972 Olympics trials, was the top lot in the first-ever auction dedicated to sneakers at Sotheby's auction house in New York. Sotheby's said the price was a world auction record for a pair of sneakers. The buyer was Canadian investor and car collector Miles Nadal, who had previously paid $850,000 for 99 other pairs of rare or limited collection sneakers offered by Sotheby's.

  • Reuters

    At $437,500, Nike running shoes smash auction record for sneakers

    The so-called Nike "Moon Shoe," designed by Nike co-founder and track coach Bill Bowerman for runners at the 1972 Olympics trials, was the top lot in the first-ever auction dedicated to sneakers at Sotheby's auction house in New York. Sotheby's said the price was a world auction record for a pair of sneakers.

  • Original Apollo 11 landing videotapes sell for $1.8M
    TechCrunch

    Original Apollo 11 landing videotapes sell for $1.8M

    VCRs didn't really exist when the first men walked on the moon, but NASA wasahead of the curve and recorded the event for posterity on videotapes — whichjust sold at auction for $1

  • Sotheby's to auction Apollo 11 moon landing tapes
    Yahoo Finance Video

    Sotheby's to auction Apollo 11 moon landing tapes

    Sotheby’s is planning to auction off an out-of-this-world collection on the 50th anniversary of the Apollo 11 moon landing — but owning a piece of space history comes at a hefty price.