Sotheby's borrows $250 million under the Bank of America Credit Agreement in an attempt to ensure liquidity in response to the recent turbulence in the global financial markets.
Sotheby's reported $5.25 million in total revenue, a 10% drop from 2007 third quarter revenues.
Sotheby's reported $320.2 million in total revenue and $3.0 billion in aggregrate auction sales, a record for the Company.