Sotheby's Profit Falls

Sotheby's, the world's largest publicly traded auction house, said second-quarter profit fell 11 percent after it shifted its London contemporary-art sales to the third quarter from the second.

... Chief Executive William Ruprecht said profit would have increased were it not for the new auction schedule. He said wealthy people with more than $100 million -- who are insulated from economic woes -- remain their best customers.

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