Sotheby’s revenues rise by 68% in Q2

The second quarter (ending June 30, 2010) revenue at Sotheby’s increased 68 percent to $281.4 million (y-o-y). The auction house saw operating income increasing 192 percent to $139.7 million (y-o-y), and profit to $86.2 million from $12.2 million in the second quarter last year.

Expenses amounted to $141.7 million, increasing by 19 percent, which the auction house states is an improvement over the same period last year. Its total aggregate auction sales valued $1.6 billion in the second quarter this year. The first six months recorded net income worth $84.1 million, from net loss worth $22.3 million in the same quarter last year.