By: Forbes Real Time
September 11, 2013 at 12:18 PM EDT
Shaking Up The Art World: Sotheby's Feels The Pressure Of Billionaire Hedge Funders Dan Loeb And Nelson Peltz
Auctioneers are masters at managing timing during a bidding battle among wealthy buyers duking it out over a unique piece of art. It seems like now they’re going to become expert market timers as well. On Wednesday, with its shares trading just below their highest levels in two years, Sotheby’s announced it is reviewing its capital allocation and financial position to determine the best ways to return capital to shareholders.
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