Sotheby Announces Highest Ever Year and Q4 Revenues

Sotheby's Holding Inc. announced its highest ever yearly revenue of $513.5 million. Auction and related revenues for the full year totaled $502 million, a 13 percent increase from the prior year.

In 2005, Sotheby's launched a joint retail jewelry venture with the Steinmetz Diamond Group.

For the quarter ended December 31, 2005, the company reported fourth quarter auction and related revenues of $200.6 million, its highest fourth quarter total ever, and a $25.1 million, or 14 percent, increase over the prior fourth quarter, primarily due to higher auction commission revenues and private sale commissions.

“2005 was our best year in fifteen years and was, without question one of Sotheby's best years ever,” said Bill Ruprecht, president and CEO of Sotheby's Holdings, Inc.

Sotheby's Holdings, Inc. is the parent company of Sotheby's worldwide auction businesses, art-related financing and private sales activities. The Company operates in 34 countries, with principal salesrooms located in New York and London. The Company also regularly conducts auctions in 13 other salesrooms around the world, including Australia, Hong Kong, France, Italy, the Netherlands, Switzerland and Singapore.