A booming market: auction houses are seeing record results--some say because investors put off by the sub-prime loan fiasco are shifting money into fine collectibles. Swiss News takes a closer look.
Swiss News › Nbr. 2008, April 2008
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BUSINESS
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A booming market: auction houses are seeing record results--some say because investors put off by the sub-prime loan fiasco are shifting money into fine collectibles. Swiss News takes a closer look.
Admittedly 2007 was an exceptional year for Swiss auction houses. Koller, the largest Swiss auction house by turnover, says the year's sales of SFr 110 million were up 45 per cent from 2006. And in Sotheby's Swiss operations, annual sales of SFr 178 million were up 44 per cent on the previous year--a whopping SFr 54 million increase.
That means Sotheby's Swiss sales were pushing 18 per cent of the auction house's global turnover of $...See the full content of this document
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