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Skate’s: Wealth Managers Investing Big in Sotheby’s, Shutterstock

Screen-shot-2014-10-02-at-10.49.42-AM-1Some $840 million in investment has poured into Sotheby’s and Shutterstock over the past few weeks from big-league wealth managers, Skate’s points out in the latest edition of its Market Notes column, with the Vanguard group grabbing a 5.5 percent stack in the auction house to join Morgan Stanley and BlackRock in the company.

Sotheby’s, which is currently hunting for a new CEO, following William Ruprecht’s announcement last November that he would step down, has seen its stock climb 20 percent over the past 6 months, though the share price has been essentially flat over the past year.

For more details on the action with Sotheby’s and Shutterstock, plus major developments at Cafe Press, Collectors Universe, and more, head over to Skate’s.

This post has been written to promote content produced by Skate’s, which is owned by ARTnews’ parent company. ARTnews is not involved in the creation of its reports.

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