XML 20 R8.htm IDEA: XBRL DOCUMENT

Seasonality of Business	3 Months Ended
Seasonality of Business	Mar. 31, 2018
Seasonality Of Business [Abstract]
Seasonality of Business	Seasonality of Business The global art auction market has two principal selling seasons, which generally occur in the second and fourth quarters of the year. In the aggregate, second and fourth quarter Net Auction Sales¹ represented 80% and 82% of our total annual Net Auction Sales in 2017 and 2016, respectively, with auction commission revenues comprising approximately 66% and 75%, of our total revenues, respectively. Accordingly, our financial results are seasonal, with peak revenues and operating income generally occurring in the second and fourth quarters. Consequently, first and third quarter results have historically reflected lower revenues when compared to the second and fourth quarters and, typically, a net loss due to the fixed nature of many of our operating expenses. ___________________________________________________________________ ¹Represents the total hammer (sale) price of property sold at auction.