“Sotheby’s Chief Financial Officer William Sheridan said art prices and sales have stabilized, after the New York-based auctioneer reported a worse-than- expected 87 percent drop in second-quarter earnings. ‘Unless there’s some external event we’re not aware of, we believe the market has bottomed out,’ Sheridan said in an interview last night. … Yesterday, Sotheby’s reported its first quarterly profit in a year.”