01/25/2007
Sotheby's art business in the U.S. jumped 52 percent in 2006 thanks, in part, to pricey Picassos and Cezannes, according to a January 2 report from Bloomberg. The world's second-largest auction house (Christie's is larger) sold $1.8 billion worth of art in the United States. Worldwide, Sotheby's reported that it sold $3.66 billion worth of art, up 36 percent from 2005. Sales in Sotheby's relatively new market in Asia were up 29 percent to $282.3 million.