Revenues (Tables)

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

Schedule of Revenue by Segment

Note 1 for information regarding the retrospective adoption of ASC 606.)

The following table summarizes our revenues by segment and type for the three months ended March 31, 2018 and 2017 (in thousands of dollars):

	Three Months Ended March 31, 2018
	Agency		SFS		All Other		Total
Revenue from contracts with customers:
Agency commissions and fees:
Auction commissions	$	132,130	$	—	$	—	$	132,130
Auction related fees, net (a)	11,743		—		—		11,743
Private sale commissions	19,485		—		—		19,485
Other Agency commissions and fees	1,992		—		176		2,168
Total Agency commissions and fees	165,350		—		176		165,526
Inventory sales	14,383		—		1,853		16,236
Advisory revenues	—		—		1,250		1,250
License fee and other revenues	—		—		2,903		2,903
Total revenue from contracts with customers	179,733		—		6,182		185,915
Finance revenue:
Interest and related fees	—		9,881		—		9,881
Total revenues	$	179,733	$	9,881	$	6,182	$	195,796

	Three Months Ended March 31, 2017
	Agency		SFS		All Other		Total
Revenue from contracts with customers:
Agency commissions and fees:
Auction commissions	$	90,616	$	—	$	—	$	90,616
Auction related fees, net (a)	5,453		—		—		5,453
Private sale commissions	13,220		—		—		13,220
Other Agency commissions and fees	1,976		—		—		1,976
Total Agency commissions and fees	111,265		—		—		111,265
Inventory sales	68,926		—		2,451		71,377
Advisory revenues	—		—		1,398		1,398
License fee and other revenues	—		—		2,502		2,502
Total revenue from contracts with customers	180,191		—		6,351		186,542
Finance revenue:
Interest and related fees	—		12,767		—		12,767
Total revenues	$	180,191	$	12,767	$	6,351	$	199,309

(a) Auction Related Fees, net includes the net overage or shortfall attributable to auction guarantees, consignor expense recoveries, and shipping fees charged to buyers.

Schedule of Contract with Customer

The table below summarizes the balances related to our contracts with customers as of and for the periods ended March 31, 2018 and 2017 (in thousands of dollars):

	March 31, 2018			March 31, 2017
Accounts Receivable
Balance as of beginning of period	$	783,706		$	424,418
Balance as of end of period	$	716,330		$	381,808
Increase/(decrease)	$	(67,376	)	$	(42,610	)
Client Payables
Balance as of beginning of period	$	996,197		$	511,876
Balance as of end of period	$	820,374		$	532,288
Increase/(decrease)	$	(175,823	)	$	20,412