This morning was rather volatile for the stock price of Sotheby’s (BID). It spiked up to 51 in the morning and is now trading at around 47. See the chart below.
This reminded me of the ‘flash crash’, when the Sotheby’s stock was all over the place. I’m not saying there might be a flash crash again. Instead, I thought this would be a great time to write about my theories on auction house stocks. It is my contention that they could be good leading indicators for the general stock market.