Sotheby’s CEO Says Supply Is ‘Catching Up With Demand’ as Fall Auctions Target $1.4 Billion

Sotheby’s CEO Charles Stewart said the art market has entered a new phase this fall, with supply finally “catching up with the demand” after months of strong bidder activity. The comment, made recently to CNBC, comes as New York’s marquee auction houses prepare for sales expected to total more than $1.4 billion, a jump of roughly 50 percent from last year and a possible turning point after three consecutive years of declines.The November auctions will test