“Sotheby’s says its third quarter losses were less than a year ago because of some high-profile sales. The “hammer price” of goods sold at auction was $194m (£105m) in the summer when sales were brisk. Auction and related revenue surged 48% to $42.9m. For the quarter, it reported a consolidated net loss for continuing operations of $28.3m, compared with a loss of $29.5m a year ago.”