Sotheby's management says that a focus on the middle market and its new buyer’s premium rate structure should help even out its profit margins
Sotheby’s management said that it will boost its commitment to the middle market (the market below the highest profile sales) on its 2 March conference call to discuss its 2014 full-year results. In answer to questions from Wall Street analysts, Patrick McClymont, Sotheby’s chief financial officer, stressed that this wasn’t a change in strategy, more a broadening of the marketing plan that the auction house put into action in the second half of 2014.
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