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Non-Tech : Sotheby's (BID) Auction House -- Ignore unavailable to you. Want to Upgrade?

To: Iceberg who wrote (143)	1/23/1999 8:14:00 PM
From: Steve Andrew	Read Replies (2) \| Respond to of 236

To Iceberg, et. al. Granted, any or all of you may perceive this info to be a "rumor." That is your right. Since I believe it to be an imminent fact, this is what I believe its effect is on BID. As soon as the news is released, there exists a better than 50% chance BID price declines significantly. As a NYSE stock without high short-sale interest %,it is unlikely the shorts could be effectively squeezed and the stock artificially supported. Once the Christies program effectively disseminates among the fine art dealing community, the seven-day exclusive "force" window that Sothebys is requiring becomes undermined and galleries will likely vote with their books and avoid giving Sothebys the exclusive contract they seek. The race will be on and both will likely compete in this space ( I personally give the edge to Christies...based on dealer perception and "personal" opinion.)BID stock may recover a bit and is still likely to remain somewhere in the 30's(albeit the lower thirties is more likely), and remain in a tight trading range for some time thereafter...as many including MSDW have indicated their renewed interest in the stock. I do not pretend to tell anyone how to trade their position...everyone has different situations and needs, however, for strictly momentum players....the bloom comes of the rose and the stock begins to trade less as a first-to-the-space internet play and more as a competitive one. As I said in my first post here, I wouldn't count on a whole lot more appreciation here...especially now that the biggest player in the industry will be right there and is not constrained by public company rules and regulations. IMO. period. If I am wrong, you can all call me whatever names you want. If I am right, maybe you'll learn something useful.....you make the call! Steve