CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Agency commissions and fees	$ 165,526	$ 111,265
Inventory sales	16,236	71,377
Finance	9,881	12,767
Other	4,153	3,900
Total revenues	195,796	199,309
Expenses:
Agency direct costs	35,273	21,289
Cost of inventory sales	15,995	71,407
Cost of finance revenues	2,263	5,037
Marketing	5,722	5,911
Salaries and related	78,719	65,550
General and administrative	43,813	38,951
Depreciation and amortization	7,100	5,384
Voluntary separation incentive programs, net	0	(162)
Total expenses	188,885	213,367
Operating income (loss)	6,911	(14,058)
Interest income	365	257
Interest expense	(9,313)	(7,533)
Extinguishment of debt	(10,855)	0
Non-operating income	1,424	2,044
Loss before taxes	(11,468)	(19,290)
Income tax benefit	(4,136)	(7,292)
Equity in earnings of investees	806	667
Net loss	(6,526)	(11,331)
Less: Net loss attributable to noncontrolling interest	(4)	(6)
Net loss attributable to Sotheby's	$ (6,522)	$ (11,325)
Basic and diluted loss per share - Sotheby’s common shareholders (in dollars per share)	$ (0.12)	$ (0.21)
Weighted average basic and diluted shares outstanding (in shares)	52,464	53,016