Sotheby’s Reports Record $4.4 B. First Half as Private Sales and Luxury Fuel Growth

Sotheby’s reported record first-half consolidated sales of $4.4 billion on Tuesday, up 58 percent from the same period last year, fueled by gains across auctions, private sales, and its growing luxury businesses. Auction sales rose 59 percent to $3.4 billion, while private sales climbed 52 percent to a record $826 million. The company also posted its highest sell-through rate since at least 2010 and a record 4.9 bidders per lot sold.The numbers are undeniably strong. But the more interesti