26% Quarterly Profit Drop for Sotheby’s

Bloomberg reports that Sotheby’s (BID) saw 26% profit losses in the fourth quarter of 2011 as sales fell.  Net income fell to $71.5m from $96.2m last year.  This is especially interesting as fourth quarter 2010 was its most profitable since 2008.

[This entry was drafted with the assistance of Nicole Dornbusch].