Sotheby’s Earnings Fell by 88 Percent During the First Half of 2024, Report Says

Sotheby’s reported a sharp decline in its financials, with core earnings down 88 percent and auction sales falling by 25 percent in the first half of 2024, according to the Financial Times.Sotheby’s annual first-half results, revealed via an internal document distributed to investors and reviewed by the FT, show that the company encountered fiscal challenges before securing an investment deal with Abu Dhabi’s sovereign wealth fund (ADQ). The agreement was announced last month.L