Sotheby’s Reports $71.2m Loss & “Substantial Doubt” About Continuing; Major June Sales Planned

Sotheby’s new leaders, who took the publicly traded company private, are understandably eager to reopen their New York saleroom for post-pandemic business. Having disclosed a $71.2-million net loss in its 2019 Annual Report (compared to net income of $108.6 million the previous year), the company could use a life-sustaining income infusion. – Lee Rosenbaum