Comments on: Dan Loeb’s doomed Sotheby’s campaign A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 By: gimme-a-break Sat, 05 Oct 2013 12:51:31 +0000 what about ruprecht’s history of selling his stock in sotheby’s?
at least, mr loeb puts his money where his mouth is. ruprecht’s record is damning.

and let’s talk about loeb, he’s actually been a major supporter of the arts and collector for over 20 years. he actually does know quite a bit about this world. he’s certainly done more personal business with an auction house than 99% of the world.

ruprecht also ran the company into the ground before the stock price rose to $30 and $50 a share, thanks solely to the rising tide of contemporary art values.

don’t forget that sotheby’s is a company which makes no money on any category but contemporary art, and their marketing expenses and cost of sales are astronomical.

the only thing more damaging than ruprecht’s bloated way of doing business is the anachronistic business model of both auction houses.