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Art Sector Investors Gain Confidence As Revenue Declines, Says Sotheby's Cappellazzo

Realogy Holdings NYSE:RLGY, Sotheby's NYSE:BID - Art Sector Investors Gain Confidence As Revenue Declines, Says Sotheby's Cappellazzo

On CNBC, Robert Frank and Sothebys BID 1.41%'s Amy Cappellazzo discussed decreasing revenues in the art market, playing a large role in Realogy Holdings Corp RLGY 0.32%'s Sotheby's brokerage firm.

Frank noted that revenues in the art sector fell this year from "2.7 billion in 2015 to 1.1–1.2 billion," even when billionaire Yusaku Maezawa poured over $98 million dollars into the market this year.

Less Revenue, More Consistency

Cappellazzo responded saying although there was less estimated revenue this year, the art market has "more certainty," making the market more attractive to serious investors. Last year, many feared the art sector was in the bubble territory and about to pop; however, the combination of decreasing market activity and continuing high prices may have dispelled that notion.

At time of writing, Realogy was up 0.29 percent on the day at $31.53.

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