Sotheby’s stock is down significantly, partly because of two “Mystery” paintings

For the foreseeable future, I will publish once a week on Monday.

Buste de femme de profil by Pablo Picasso. Photo courtesy of Sotheby’s.

Sotheby’s stock (very clever symbol BID on the New York Stock Exchange) is down significantly to $46.99 (as of August 10, 2018) from a recent high of $59.67 on June 8, 2018. Analysts attribute part of the drop to a decline in margin resulting from the sale of two “Mystery” paintings. Art experts have identified the two paintings as a Modigliani sold in New York and a Picasso sold in London. Even though their selling prices were very high, their results hurt the bottom line.

Following is the link to an article from that explains the seeming contradiction. The two mystery paintings that sunk Sotheby’s stock.

The Baltimore Art, Antique & Jewelry Show is now only two weeks away, at the end of this month, August 30 – September 2, 2018. Unfortunately the Baltimore show promoter has moved the show one week later than usual, to the Labor Day weekend. The show used to be held over the Labor Day weekend, but that was many years ago. The show is wonderful, so we’ll continue to exhibit there regardless of the change of dates.

We’re still very much in business between shows, so please don’t hesitate to email or call. I recently listed some of the new items on my website and will list more every week. Click Philip Chasen Antiques to take a look. I will make every effort to actively list new items as often as time permits. I always strive to offer the finest objects for sale on my website and at every show. There are many items for sale, sold items with prices and free lessons about glass and lamps. And remember to keep reading my blog.