somtookeke:
Quietly, over the last three months,
Sotheby's auction house has seen its stock
lose one-quarter of its value.

This is, in large part, due to its high-end
clients. Something is about to happen to
them.

The polite way to say it is that —as
Sotheby's CEO Tad Smith put it earlier this
month — they are about to get more
"discerning."

The frank way to say it is that they're about
to get walloped by this year's choppy
markets.

Sotheby's stock price is warning of this.
Yes, we're seeing record-breaking sales for
some items, like a Modigliani painting sold
by rival Christie's for $170 million earlier
this month, but if you look below that tier
the picture isn't so great.

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#SpeakersDen: A sign that the world's #richest are about to hit a rough patch: http://speakersden2..com/2015/11/a-sign-that-world-richest-are-about-to.html