Citibank Equity Research and Sotheby’s

Artvest was hired as a specialty art market consultant to Citibank Equity Research for coverage of Sotheby’s stock in 2013 and conducted a thirteen-year analysis of the Company’s performance after the dislocation of the price-fixing crisis. The Artvest research revealed that Sotheby’s was pursuing a flawed high-value strategy exposing it to greater margin volatility and stagnant EBITDA performance while ceding large portions of its market share to its competitors. Shortly thereafter, the firm attracted activist investor interest which ultimately brought about a change in Senior Management and corporate strategy.

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