Sotheby's Investor Presentation Deck

SOTHEBY'S BUYER'S PREMIUM CHART Overall Auction Commission Margin of 16.1% in 2018 26% 20% 13% 7% 0% Investor Briefing: April 2019 25% Hammer Up to $400,000 20% Hammer $400,000 - $4 Million 8 13.9% Hammer $4 Million+ Sotheby's

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