BID - Sotheby's

NYSE - NYSE Delayed Price. Currency in USD
58.68
-0.16 (-0.27%)
At close: 4:02PM EDT
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Previous Close58.84
Open58.75
Bid58.73 x 800
Ask58.75 x 1400
Day's Range58.60 - 59.00
52 Week Range32.01 - 59.94
Volume581,633
Avg. Volume773,368
Market Cap2.735B
Beta (3Y Monthly)2.01
PE Ratio (TTM)26.70
EPS (TTM)2.20
Earnings DateOct 30, 2019 - Nov 4, 2019
Forward Dividend & YieldN/A (N/A)
Ex-Dividend Date2015-11-27
1y Target Est53.75
Trade prices are not sourced from all markets
  • Auction of one-of-a-kind Porsche falls apart after bizarre bidding error
    MarketWatch7 hours ago

    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.comyesterday

    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
    Bloomberg3 days ago

    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.

  • Financial Times4 days ago

    Sotheby’s sale to Patrick Drahi attracts new investor criticism

    As the Sotheby’s auctioneer, it fell to Ms Newman to find a bidder willing to raise a paddle. Months later, the Sotheby’s board was doing the same, as it worked to clinch a much more valuable sale: its own. UK-based fund manager RWC Partners, which holds a 2.5 per cent stake in Sotheby’s, has raised several concerns over the deal, including its price.

  • Financial Times4 days ago

    Sotheby’s/Patrick Drahi: hammer clamour

    The upmarket art barkers of Sotheby’s would never engage in such a disreputable practice. New York-based Sotheby’s has also come under fire from a shareholder over the number of bidders — and the price — in the sale of its own business. Investors will vote on the offer in early September.

  • ACCESSWIRE8 days ago

    SHAREHOLDER ALERT: Monteverde & Associates PC Launches an Investigation Regarding the Following Buyout

    NEW YORK, NY / ACCESSWIRE / August 16, 2019 / Juan Monteverde , founder and managing partner at Monteverde & Associates PC , a national securities firm headquartered at the Empire State Building in New ...

  • ACCESSWIRE24 days ago

    Rigrodsky & Long, P.A. Files Class Action Suit Against Sotheby’s

    WILMINGTON, DE / ACCESSWIRE / July 31, 2019 / Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the District of Delaware on behalf of holders ...

  • GlobeNewswire24 days ago

    Shareholder Investigation Alert: Halper Sadeh LLP Reminds Investors That it is Investigating Whether the Sale of These Companies is Fair to Shareholders – CZR, DFRG, BID, LTXB

    NEW YORK, July 31, 2019 -- Halper Sadeh LLP, a global investor rights law firm, reminds investors that it is investigating the following companies: Caesars Entertainment.

  • Classic 1939 Porsche Type 64 - 'The Ancestor of All Porsches' - Goes to Auction
    TheStreet.com24 days ago

    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.

  • GlobeNewswire25 days ago

    Sotheby’s Reports 2019 Second Quarter Financial Results

    NEW YORK, July 30, 2019 -- Sotheby’s (NYSE: BID) today reported its financial results for the second quarter and six months ended June 30, 2019.  For the three months.

  • GuruFocus.com26 days ago

    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 Financelast month

    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.

  • Reuterslast month

    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
    Reuterslast month

    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.

  • Reuterslast month

    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
    TechCrunchlast month

    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 Videolast month

    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.

  • GlobeNewswirelast month

    Investigation Alert: Halper Sadeh LLP is Investigating Whether the Sale of These Companies is Fair to Shareholders – BKS, BID

    NEW YORK, July 18, 2019 -- Halper Sadeh LLP, a global investor rights law firm, is investigating the following companies: Barnes & Noble, Inc. (NYSE: BKS)The investigation.

  • GlobeNewswirelast month

    SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Reminds Investors of Investigations of the Following Mergers

    WILMINGTON, Del., July 18, 2019 -- Rigrodsky & Long, P.A. announces that it is investigating: Carolina Trust BancShares, Inc. (NASDAQ CM: CART) regarding possible breaches.

  • Exclusive: Here’s why one of S.F.’s top real estate agents left Compass for Sotheby’s
    American City Business Journalslast month

    Exclusive: Here’s why one of S.F.’s top real estate agents left Compass for Sotheby’s

    Real estate duel between Compass and Sotheby's is growing after Compass ruffled feathers by buying up longtime local real estate companies.

  • ACCESSWIRElast month

    SHAREHOLDER ALERT: Halper Sadeh LLP Reminds Investors it is Investigating Whether the Sale of These Companies is Fair to Shareholders - BID, CZR, DFRG

    NEW YORK, NY / ACCESSWIRE / July 15, 2019 / Halper Sadeh LLP, a global investor rights law firm, reminds investors that it is investigating the following companies: Sotheby’s (NYSE: BID) The investigation ...

  • Bob's Watches and Sotheby's Collaborate on Rare Driving Watch Auction
    Yahoo Finance Video9 days ago

    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 Video29 days ago

    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.

  • Sotheby's celebrates 50th anniversary of Apollo 11 with memorabilia auction
    Yahoo Finance Videolast month

    Sotheby's celebrates 50th anniversary of Apollo 11 with memorabilia auction

    Sotheby's is auctioning off memorabilia from Apollo 11 on the 50th anniversary of the historic moon landing, including three reels of video tape of the event expected to go for as much as $2 million. Vice President and Senior Specialist at Sotheby’s Cassandra Hatton joins Yahoo Finance's Zack Guzman and Sibile Marcellus, along with Thornton McEnery, Dealbreaker Executive Editor, to discuss.