Here's your summary from Sotheby's CEO Sees Strong Global Demand in Art Market (https://www.youtube.com/watch?v=h3xvrfxCqnA) on the Bloomberg Television channel:
**TLDR:** Sotheby's CEO discusses strong global demand in the art market, innovative fee structure, and evolving business strategies.
1. Sotheby's recently had its biggest art auction of the year, selling nearly 600 paintings for over $630 million, showcasing strong global interest.
2. The company is welcoming new competitors in the market to expand access to art collecting and is innovating its fee structure by lowering the buyer's premium to a flat 20%.
3. Sotheby's is evolving its business by exploring new luxury categories like sports collectibles and expanding to a broader multi-channel marketplace business.
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