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Enough top-performing CAPS investors have turned bullish on art auctioneer Sotheby's
By staying in the high end of the market -- auction peer Christie's recently sold a Monet painting for $80 million -- Sotheby's has elite clientele who haven't stopped spending during the economic downturn. While many mainstream companies like Ford
Sotheby's also has an edge over online auctioneer eBay
Sotheby's second-quarter profits recently came in at $95.3 million, and some investors were disappointed that this was down from the same period last year. But much of the shortfall came from shifting some London art sales from the second to the third quarter, which management expects to be much stronger than last year. With a solid brand that has generated around 24% five-year annualized returns, many investors think Sotheby's is the next big thing. More than 95% of the 604 CAPS members rating Sotheby's feel that way and expect it to outperform the market.
To see what the very best CAPS analysts are saying now about Sotheby's -- as well as other winning stocks they are picking -- head over to CAPS and have a look. Don't forget to join the community and let us know what you think.
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