BID

Sotheby’s Cut

3 Comments Published May 5th, 2006 in Trading

Picasso’s painting Dora Maar with Cat recently sold for $95.2 million, well above the $50 estimate. Am I the only one who can’t spot the cat?

While others were oohing and aahing over the gavel price, I was busy calculating Sotheby’s cut:

Let’s see, 20% of the first $15,000… that’s $3000. Then 15% of the next $85,000… that’s $12,750. And finally 10% of all over $100,000… that would be $9,520,000.

No wonder their stock is zooming higher:

It looks a bit over extended here, even on the weekly. An orderly pullback might allow for a good entry.

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