Sothebys (Sothebys) Intangible Assets : $67 Mil (As of Jun. 2019)

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What is Sothebys Intangible Assets?

Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. Sothebys's intangible assets for the quarter that ended in Jun. 2019 was $67 Mil.

Sothebys Intangible Assets Historical Data

The historical data trend for Sothebys's Intangible Assets can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Sothebys Intangible Assets Chart

Sothebys Annual Data

Trend

Dec09

Dec10

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Dec12

Dec13

Dec14

Dec15

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Dec18

Intangible Assets

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14.34

13.95

63.42

62.04

68.57

Sothebys Quarterly Data
	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19
Intangible Assets	Get a 7-Day Free Trial															70.28	69.64	68.57	67.76	66.89

Sothebys Intangible Assets Calculation

Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. Examples of intangible assets include trade secrets, copyrights, patents, trademarks. If a company acquires assets at the prices above the book value, it may carry goodwill on its balance sheet. Goodwill reflects the difference between the price the company paid and the book value of the assets.

Sothebys (NYSE:BID) Intangible Assets Explanation

If a company (company A) received a patent through their own work, though it has value, it does not show up on its balance sheet as an intangible asset. However, if company A sells this patent to company B, it will show up on company B's balance sheet as an intangible asset.

The same applies to brand names, trade secrets etc. For instance, Coca-Cola's brand is extremely valuable, but the brand does not appear on its balance sheet, because the brand was never acquired.

Some intangibles are amortized. Amortization is the depreciation of intangible assets.

Many intangibles are not amortized. They may still be written down when the company decides the asset is impaired.

Whenever you see an increase in goodwill over a number of years, you can assume it's because the company is out buying other businesses above book value. GOOD if buying businesses with durable competitive advantage.

If goodwill stays the same, the company when acquiring other companies is either paying less than book value or not acquiring. Businesses with moats never sell for less than book value.

Intangibles acquired are on balance sheet at fair value.

Internally developed brand names (Coke, Wrigleys, Band-Aid) however are not reflected on the balance sheet.

One of the reasons competitive advantage power can remain hidden for so long.

Be Aware

Companies may change the way intangible assets are amortized, and this will affect their reported earnings.

Sothebys Intangible Assets Related Terms

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Sothebys (Sothebys) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » Sothebys (NYSE:BID) » Definitions » Intangible Assets

Comparable Companies

Traded in Other Exchanges

N/A

Address

1334 York Avenue, New York, NY, USA, 10021

Website

https://www.sothebys.com

Sothebys is a global art business based in the United States. Its operations are organized under two segments: agency and finance. The agency business provides an auction space or private sale arrangements for sellers and buyers of fine art, decorative art, wine, jewelry and collectibles. The finance segment provides financing activities for collectors and art dealers. Sotheby's auction commissions include those paid by both buyer and seller, both of which are calculated as a percentage of the price of the property sold at auction. Sotheby's private sale commissions are part of a legally binding agreement between Sotheby's and the seller.

Executives

Jessica M Bibliowicz	director	NATIONAL FINANCIAL PARTNERS CORP., 340 MADISON AVENUE, 20TH FL, NEW YORK NY 10173
Dennis M Weibling	director	2300 CARILLON POINT, KIRKLAND WA 98033
Jill Bright	officer: EVP of HR and Administration	1334 YORK AVENUE, NEW YORK NY 10021
Michael F Goss	officer: EVP, Chief Financial Officer	BAIN CAPITAL PARTNERS LLC, JOHN HANCOCK TOWER, 200 CLARENDON STREET, BOSTON MA 02116
Michael J Wolf	director	401 CITY AVENUE, SUITE 809, BALA CYNWYD PA 19004
Smith, Jr. Thomas S.	director, officer: President and CEO	2 PENN PLAZA, NEW YORK NY 10121
Kevin C. Conroy	director	C/O NEWELL RUBBERMAID INC., 3 GLENLAKE PKWY., ATLANTA GA 30328
Sole Domenico De	director	C/O GAP, INC., 2 FOLSOM ST., SAN FRANCISCO CA 94105
Diana L Taylor	director	ALLINAZ GLOBAL INVESTORS, 1345 AVENUE OF THE AMERICAS, NEW YORK NY 10106
Daniel S Loeb	director, 10 percent owner, other: See Remarks	THIRD POINT LLC, 390 PARK AVENUE, NEW YORK NY 10022
Third Point Llc	10 percent owner	55 HUDSON YARDS, NEW YORK NY 10001
Harry James Wilson	director	VISTEON CORPORATION, ONE VILLAGE CENTER DRIVE, VAN BUREN TOWNSHIP MI 48111
Patrick Drahi	10 percent owner	WIESTISTRASSE 14, ZERMATT V8 3920
Kevin M Delaney	officer: SVP, Corp. Controller & CAO	IMAX CORPORATION, 902 BROADWAY, 20TH FLOOR, NEW YORK NY 10010-6002
Lisa Nadler	officer: EVP, WW Chief HR Officer	1334 YORK AVE, NEW YORK NY 10021