Sotheby's (BID) 10-K 26 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information Document - USD ($)	12 Months Ended
	Dec. 31, 2015	Feb. 17, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	SOTHEBYS
Entity Central Index Key	823,094
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		61,942,422
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 2,814,809,682

Consolidated Income Statements

Consolidated Income Statements - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Agency commissions and fees	$ 791,920	$ 825,126	$ 793,639
Inventory sales	108,699	69,958	30,638
Finance	50,489	33,013	21,277
License fees	9,820	8,484	6,902
Other	566	1,472	1,222
Total revenues	961,494	938,053	853,678
Expenses:
Agency direct costs	91,919	86,524	84,594
Cost of inventory sales	111,090	68,037	30,307
Cost of Finance revenues	15,780	8,740	0
Marketing	19,332	16,566	22,487
Salaries and related	302,825	310,934	297,450
General and administrative	159,148	158,796	175,458
Depreciation and amortization	19,481	20,575	19,435
CEO separation and transition costs	4,232	7,591	0
Special charges, net	0	20,008	1,372
Total expenses	759,773	712,009	631,103
Operating income	201,721	226,044	222,575
Interest income	1,776	1,883	2,801
Interest expense	(32,745)	(35,189)	(42,712)
Other (expense) income	(1,453)	283	3,029
Income before taxes	169,299	193,021	185,693
Equity in earnings of investees	5,327	732	15
Income tax expense	131,145	75,761	55,702
Net income	43,481	117,992	130,006
Less: Net (loss) income attributable to noncontrolling interest	(246)	197	0
Net income attributable to Sotheby's	$ 43,727	$ 117,795	$ 130,006
Basic earnings per share - Sotheby's common shareholders	$ 0.64	$ 1.69	$ 1.90
Diluted earnings per share - Sotheby's common shareholders	0.63	1.68	1.88
Cash dividends declared per common share	$ 0.40	$ 4.74	$ 0.2
Voluntary separation incentive programs
Expenses:
Restructuring charges, net	$ 36,938	$ 0	$ 0
2014 Restructuring plan
Expenses:
Restructuring charges, net	$ (972)	$ 14,238	$ 0

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net income	$ 43,481	$ 117,992	$ 130,006
Foreign currency translation adjustments:
Cumulative foreign currency translation adjustments, net of tax of ($6,345), ($2,376), and $1,601	(17,854)	(31,461)	13,874
Reclassification of cumulative foreign currency translation adjustments included in net income	(105)	2,058	0
Total foreign currency translation adjustments	(17,959)	(29,403)	13,874
Derivative financial instruments:
Unrealized losses on cash flow hedges, net of tax of ($3,126), $0, and $0	(4,994)	0	0
Realized losses on cash flow hedges included in net income, net of tax of $430, $0, and $0	688	0	0
Total derivative financial instruments	(4,306)	0	0
Defined benefit pension plan:
Net unrecognized gains (losses), net of tax of $6,445, ($2,447), and ($1,016)	29,363	(9,787)	(4,065)
Amortization of previously unrecognized net pension losses and prior service costs included in net income, net of tax of $867, $469, and $335	3,464	1,877	1,113
Total defined benefit pension plan net gain (loss)	32,827	(7,910)	(2,952)
Total other comprehensive income (loss)	10,562	(37,313)	10,922
Comprehensive income	54,043	80,679	140,928
Less: Comprehensive (loss) income attributable to noncontrolling interest	(246)	197	0
Comprehensive income attributable to Sotheby's	$ 54,289	$ 80,482	$ 140,928

Consolidated Statements of Com4

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Consolidated Statement of Comprehensive Income [Abstract]
Tax - Foreign Currency Translation Adjustment	$ (6,345)	$ (2,376)	$ 1,601
Tax - Change in Fair Value of Cash Flow Hedges	(3,126)	0	0
Tax - Realized Loss from Settled Cash Flow Hedges Included in Net Income	430	0	0
Tax - Net Unrealizable Loss/Gain on Deferred Benefit Pension Plan	6,445	(2,447)	(1,016)
Tax - Amortization of previously unrecognized net pension losses	$ 867	$ 469	$ 335

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current Assets
Cash and cash equivalents	$ 848,697	$ 693,829
Restricted cash	29,568	32,837
Accounts receivable (net)	875,265	913,743
Notes receivable (net)	101,441	130,796
Inventory	215,020	217,132
Income tax receivables	5,819	795
Deferred income taxes (see Note 1)	0	16,283
Prepaid expenses and other current assets	33,929	34,107
Total Current Assets	2,109,739	2,039,522
Notes receivable	611,899	568,942
Fixed assets (net)	354,494	364,382
Goodwill and other intangible assets (net)	13,945	14,341
Equity method investments	41,744	10,210
Trust assets related to deferred compensation liability	37,843	50,490
Pension asset	66,859	28,993
Income tax receivables	3,178	5,755
Deferred income taxes	7,916	32,447
Other long-term assets	26,512	19,738
Total Assets	3,274,129	3,134,820
Current Liabilities
Due to consignors	692,606	980,470
Due to related party consignor (see Note 17)	285,418	0
Accounts payable and accrued liabilities	192,049	200,554
Current portion of York Property Mortgage	7,302	218,728
Accrued income taxes	11,095	13,469
Deferred income taxes (see Note 1)	0	359
Other current liabilities	9,113	15,627
Total Current Liabilities	1,197,583	1,429,207
Credit facility borrowings	541,500	445,000
Long-term debt	614,767	300,000
Deferred compensation liability	39,013	49,633
Accrued income taxes	18,529	20,224
Deferred income taxes	40,424	968
Other long-term liabilities	15,609	11,550
Total Liabilities	$ 2,467,425	$ 2,256,582
Commitments and contingencies (see Note 14)
Shareholders' Equity:
Common Stock, $0.01 par value, Authorized shares - 200,000,000, Issued shares - 70,054,948 and 69,550,073, Outstanding shares - 65,791,119 and 68,991,902	$ 700	$ 695
Additional paid-in capital	435,696	408,874
Treasury stock, at cost: 4,263,829 shares and 558,171 shares at December 31, 2015 and 2014, respectively	(150,000)	(25,000)
Retained earnings	586,235	569,894
Accumulated other comprehensive loss	(66,204)	(76,766)
Total Shareholders’ Equity	806,427	877,697
Noncontrolling interest	277	541
Total Equity	806,704	878,238
Total Liabilities and Equity	$ 3,274,129	$ 3,134,820

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	70,054,948	69,550,073
Common stock, shares outstanding	65,791,119	68,991,902
Treasury stock, shares	4,263,829	558,171

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating Activities:
Net income attributable to Sotheby's	$ 43,727	$ 117,795	$ 130,006
Adjustments to reconcile net income to net cash provided (used) by operating activities:
Depreciation and amortization	19,481	20,575	19,435
(Gain) loss from recognition of cumulative translation adjustment upon liquidation of foreign subsidiary	(105)	2,058	0
Deferred income tax expense	81,689	8,833	9,668
Share-based payments	33,700	27,061	22,350
Net pension cost (benefit)	1,577	(688)	(1,160)
Inventory writedowns and bad debt provisions	21,729	10,383	10,325
Amortization of debt discount	1,782	3,564	7,361
Excess tax benefits from share-based payments	(1,064)	(3,625)	(3,521)
Equity in earnings of investees	(5,327)	(732)	(15)
Other	45	3,223	971
Changes in assets and liabilities:
Accounts receivable	(14,190)	(178,335)	(194,665)
Due to consignors	(268,234)	79,180	299,512
Due to related party consignor (see Note 17)	285,418	0	0
Inventory	(18,828)	(59,475)	(83,237)
Prepaid expenses and other current assets	(6,562)	(9,559)	(2,668)
Other long-term assets	14,931	5,372	(21,066)
Income tax receivables and deferred income tax assets	22,144	7,168	6,476
Accrued income taxes and deferred income tax liabilities	(27,325)	(9,309)	2,770
Accounts payable and accrued liabilities and other liabilities	(29,530)	20,776	34,885
Net cash provided by operating activities	155,058	44,265	237,427
Investing Activities:
Funding of notes receivable	(334,989)	(592,022)	(378,650)
Collections of notes receivable	355,103	476,522	308,428
Capital expenditures	(11,338)	(10,868)	(23,467)
Funding of equity method investment	(30,725)	0	0
Distributions from equity investees	4,515	2,160	65
Proceeds from the sale of equity method investment	275	300	1,225
Decrease (increase) in restricted cash	457	(4,655)	1,300
Net cash used by investing activities	(16,702)	(128,563)	(91,099)
Financing Activities:
Debt issuance and other borrowing costs	(9,642)	(5,394)	0
Proceeds from credit facility borrowings	186,500	507,500	0
Repayments of credit facility borrowings	(90,000)	(62,500)	0
Proceeds from refinancing of York Property Mortgage	325,000	0	0
Repayments of York Property Mortgage	(223,440)	(3,614)	(3,162)
Repayment of Convertible Notes	0	0	(197,371)
Proceeds from settlement of Convertible Note Hedges	0	0	15,503
Repurchases of Common Stock	(125,000)	(25,000)	0
Dividends paid	(29,784)	(331,535)	(13,754)
Proceeds from exercise of employee stock options	0	967	4,049
Excess tax benefits from share-based payments	1,064	3,625	3,521
Funding of employee tax obligations upon the vesting of share-based payments	(8,978)	(11,848)	(11,399)
Contribution from noncontrolling interest	0	0	322
Net cash provided (used) by financing activities	25,720	72,201	(202,291)
Effect of exchange rate changes on cash and cash equivalents	(9,208)	(15,389)	8,931
Increase (decrease) in cash and cash equivalents	154,868	(27,486)	(47,032)
Cash and cash equivalents at beginning of period	693,829	721,315	768,347
Cash and cash equivalents at end of period	$ 848,697	$ 693,829	$ 721,315

Consolidated Statements Of Chan

Consolidated Statements Of Changes in Shareholders Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Loss
Balance at beginning of period at Dec. 31, 2012	$ 992,826	$ 677	$ 368,173	$ 0	$ 674,351	$ (50,375)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Sotheby's	130,006				130,006
Other comprehensive loss, net of tax	10,922					10,922
Stock options exercised	4,049	2	4,047
Warrants exercised	0	7	(7)
Common stock shares withheld to satisfy employee tax obligations	(11,399)		(11,399)
Restricted stock units vested, net	0	4	(4)
Amortization of share-based payment expense	22,350		22,350
Net tax benefit associated with the vesting or exercise of share-based payments	3,521		3,521
Shares and deferred stock units issued to directors	797	1	796
Cash dividends, (2013: $0.20, 2014: $4.74, 2015: $0.40) per common share	(13,754)				(13,754)
Balance at end of period at Dec. 31, 2013	1,139,318	691	387,477	0	790,603	(39,453)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Sotheby's	117,795				117,795
Other comprehensive loss, net of tax	(37,313)					(37,313)
Stock options exercised	967		967
Common stock shares withheld to satisfy employee tax obligations	(11,848)		(11,848)
Restricted stock units vested, net	0	4	(4)
Amortization of share-based payment expense	27,061		27,061
Net tax benefit associated with the vesting or exercise of share-based payments	3,625		3,625
Shares and deferred stock units issued to directors	1,596		1,596
Repurchase of common stock	(25,000)			(25,000)
Cash dividends, (2013: $0.20, 2014: $4.74, 2015: $0.40) per common share	(327,754)				(327,754)
Cash dividend equivalents related to share-based payments	(3,781)				(3,781)
Cash dividend equivalents accrued on share-based payments	(6,969)				(6,969)
Balance at end of period at Dec. 31, 2014	877,697	695	408,874	(25,000)	569,894	(76,766)
Balance at beginning of period at Dec. 31, 2013	1,139,318	691	387,477	0	790,603	(39,453)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividend equivalents related to share-based payments	(5,800)
Balance at end of period at Dec. 31, 2015	806,427	700	435,696	(150,000)	586,235	(66,204)
Balance at beginning of period at Dec. 31, 2014	877,697	695	408,874	(25,000)	569,894	(76,766)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Sotheby's	43,727				43,727
Other comprehensive loss, net of tax	10,562					10,562
Common stock shares withheld to satisfy employee tax obligations	(8,978)		(8,978)
Restricted stock units vested, net	0	$ 5	(5)
Amortization of share-based payment expense	33,700		33,700
Net tax benefit associated with the vesting or exercise of share-based payments	1,064		1,064
Shares and deferred stock units issued to directors	1,041		1,041
Repurchase of common stock	(125,000)			(125,000)
Cash dividends, (2013: $0.20, 2014: $4.74, 2015: $0.40) per common share	(27,107)				(27,107)
Cash dividend equivalents related to share-based payments	(279)				(279)
Balance at end of period at Dec. 31, 2015	$ 806,427	$ 700	$ 435,696	$ (150,000)	$ 586,235	$ (66,204)

Consolidated Statements Of Cha9

Consolidated Statements Of Changes in Shareholders’ Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Stockholders' Equity [Abstract]
Dividends declared (usd per share)	$ 0.4	$ 4.74	$ 0.2

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Sotheby's is a global art business whose operations are organized under two segments—Agency and Finance. The Agency segment earns commissions by matching buyers and sellers of authenticated works of art through the auction or private sale process. To a much lesser extent, Agency segment activities also include the sale of artworks that are principally acquired incidental to the auction process and the activities of RM Sotheby's, an equity investee that operates as an auction house for investment-quality automobiles (see Note 5). The Finance segment earns interest income through art-related financing activities by making loans that are secured by works of art (see Note 4). Basis of Presentation —The Consolidated Financial Statements included herein have been prepared by Sotheby's (the "Company" or "Sotheby's") pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC") and are in conformity with generally accepted accounting principles ("GAAP") in the United States (the "U.S."). In the Consolidated Financial Statements, unless otherwise stated, the terms "art" or "works of art" or "artwork" or "property" refer to authenticated fine art, decorative art, jewelry, wine, and collectibles. In November 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2015-17, Balance Sheet Classification of Deferred Taxes , which requires entities to present deferred tax assets and liabilities as non-current in a classified balance sheet, instead of separating into current and non-current amounts. ASU 2015-17 is effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods, on a prospective or retrospective basis. Early adoption is permitted for all companies in any interim or annual period. Sotheby's early adopted ASU 2015-17 as of December 31, 2015 on a prospective basis. Accordingly, prior period information has not been adjusted to reflect the new presentation of deferred tax assets and liabilities. Adjustments to Prior Period Presentation —See Note 3 for information regarding a change in Sotheby's segment reporting that became effective in the second quarter of 2015. All prior period segment information has been updated to reflect this change. Principles of Consolidation —The Consolidated Financial Statements include the accounts of Sotheby's wholly-owned subsidiaries and Sotheby's Beijing Auction Co., Ltd. ("Sotheby's Beijing"), a joint venture formed in September 2012 in which Sotheby's has a controlling 80% ownership interest. The net income attributable to the minority owner of Sotheby's Beijing is reported as "Net (Loss) Income Attributable to Noncontrolling Interest" in the Consolidated Income Statements and the non-controlling 20% ownership interest is recorded as "Noncontrolling Interest" within the Equity section of the Consolidated Balance Sheets. Intercompany transactions and balances among Sotheby's subsidiaries have been eliminated. Equity investments through which Sotheby's exercises significant influence over the investee, but does not control, are accounted for using the equity method. Under the equity method, Sotheby's share of investee earnings or losses is recorded within Equity in Earnings of Investees in the Consolidated Income Statements. Sotheby's interest in the net assets of the investee is recorded within Equity Method Investments on the Consolidated Balance Sheets. Sotheby's equity method investees include RM Sotheby's and Acquavella Modern Art. See Note 5 for information related to Sotheby's equity method investments. Foreign Currency Translation —Assets and liabilities recorded in foreign currencies are translated at the exchange rate on the balance sheet date. Revenues, expenses, gains, and losses recorded in foreign currencies are translated using the monthly average exchange rates prevailing during the period in which they are recognized. Translation adjustments resulting from this process are recorded to Other Comprehensive Income (Loss) and reported on the Consolidated Balance Sheets within Accumulated Other Comprehensive Loss until the subsidiary is sold or liquidated. Restricted Cash —Restricted Cash includes net auction proceeds owed to consignors in certain foreign jurisdictions where such funds are legally required to be maintained in segregated bank accounts, as well as other cash deposits whose use is restricted by law, contract or management statement of intention. Valuation of Inventory and Loan Collateral —The market for art is not a highly liquid trading market. As a result, the valuation of art is inherently subjective and the realizable value of art often fluctuates over time. In estimating the realizable value of art held in inventory and art pledged as collateral for Finance segment loans, management considers the following complex array of factors: (i) whether the property is expected to be offered at auction or sold privately, and the timing of any such sale; (ii) the supply and demand for the property, taking into account current art market conditions, as well as changing trends as to which collecting categories and artists are most sought after; (iii) recent sale prices achieved for comparable items within a particular collecting category and/or by a particular artist; (iv) the state of the global economy and financial markets; and (v) management's intent and ability to hold the property in order to maximize the realizable value. Due to the inherent subjectivity involved in estimating the realizable value of art held in inventory and art pledged as collateral for Finance segment loans, management's estimates of realizable value may prove, with the benefit of hindsight, to be different than the amount ultimately realized upon sale. See below for a detailed discussion of Sotheby's accounting policies with respect to Notes Receivable and Inventory. Accounts Receivable and Allowance for Doubtful Accounts —Accounts Receivable principally includes amounts due from buyers as a result of auction and private sale transactions. The recorded amount reflects the purchase price of the property, including Sotheby's commission. The Allowance for Doubtful Accounts principally includes estimated losses associated with situations when Sotheby's has paid the net sale proceeds to the seller, also known as a consignor, and it is probable that payment will not be collected from the buyer. The Allowance for Doubtful Accounts also includes an estimate of probable losses inherent in the remainder of the Accounts Receivable balance. The amount of the required allowance is based on the facts available to management, including the value of any property held as collateral, and is reevaluated and adjusted as additional facts become known. Based on all available information, management believes that the Allowance for Doubtful Accounts is adequate as of December 31, 2015 ; however, actual losses may ultimately exceed the recorded allowance. As of December 31, 2015 and 2014 , the allowance for doubtful accounts was $8.6 million and $7.3 million , respectively. See Note 4 for information related to Accounts Receivable. Notes Receivable and Allowance for Credit Losses —Notes Receivable principally includes secured loans issued by the Finance segment. The classification of a loan as current or non-current on the Consolidated Balance Sheets takes into account the contractual maturity date of the loan, as well as the likelihood of renewing the loan on or before its contractual maturity. The determination of whether a specific loan is impaired and the amount of any required allowance is based on the facts available to management and is reevaluated and adjusted as additional facts become known. A loan is considered to be impaired when management determines that it is probable that a portion of the principal and interest owed by the borrower will not be recovered after taking into account the estimated realizable value of the collateral securing the loan, as well as the ability of the borrower to repay any shortfall between the value of the collateral and the amount of the loan. An allowance is also established for probable losses inherent in the remainder of the loan portfolio based on historical data related to loan losses. See Note 4 for information related to Notes Receivable. Inventory —Inventory consists of artworks owned by Sotheby's and includes the following general classifications: (i) art that has been obtained as a result of the failure of guaranteed property to sell at auction (see Note 16), (ii) art that has been purchased opportunistically, including property acquired for sale at auction, and (iii) other objects obtained incidental to the auction process (e.g., as a result of buyer default). Inventory is valued on a specific identification basis at the lower of cost or management's estimate of realizable value (i.e., the expected sale price upon disposition). If there is evidence that the estimated realizable value of a specific item held in Inventory is less than its carrying value, a writedown is recorded to reflect management's revised estimate of realizable value. In 2015, 2014, and 2013, inventory writedowns totaled $20.1 million , $10 million , and $8.8 million , respectively. Although all of the items held in Inventory are available for immediate sale, the timing of eventual sale is difficult to predict due to the high value and unique nature of each item, as well as the cyclical nature of the global art market. Management expects that the items held in Inventory will be sold in the ordinary course of Sotheby's business during the normal operating cycle for such items. Fixed Assets —Fixed Assets are stated at cost less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful life of the asset. Buildings are depreciated over a useful life of up to 50 years . Building improvements are depreciated over a useful life of up to 20 years . Furniture and fixtures are depreciated over a useful life of up to 7 years. Leasehold improvements are amortized using the straight-line method over the lesser of the term of the related lease or the estimated useful life of the improvement. Computer software consists of the capitalized cost of purchased computer software, as well as direct external and internal computer software development costs incurred in the acquisition or development of software for internal use. These costs are amortized on a straight-line basis over the estimated useful life of the software, which is typically between 7 to 10 years for enterprise systems and 3 years for other types of software. See Note 6 for information related to Fixed Assets. Goodwill and Other Intangible Assets —Goodwill represents the excess of the purchase price paid over the fair value of net assets acquired in a business combination. Goodwill is not amortized, but it is tested annually for impairment at the reporting unit level as of October 31 and between annual tests if indicators of potential impairment exist. These indicators could include a decline in Sotheby's stock price and market capitalization, a significant change in the outlook for the reporting unit's business, lower than expected operating results, increased competition, legal factors, or the sale or disposition of a significant portion of a reporting unit. An impairment loss is recognized for any amount by which the carrying value of a reporting unit's goodwill exceeds its fair value. The fair value of a reporting unit is estimated by management using a discounted cash flow methodology. Goodwill is attributable to reporting units in the Agency segment and totaled $13.6 million and $14 million as of December 31, 2015 and 2014 , respectively, with the changes in the carrying value being attributable solely to foreign currency exchange rate movements. Other intangible assets include an indefinite lived license obtained in conjunction with Sotheby's purchase of a retail wine business in 2008. As of December 31, 2015 and 2014 , the net book value of other intangible assets was $0.3 million , and the accumulated amortization related to other intangible assets was $5.1 million and $6.1 million , respectively. Impairment of Long-Lived Assets —Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. In such situations, long-lived assets are considered impaired when estimated future cash flows (undiscounted and without interest charges) resulting from the use of the asset and its eventual disposition are less than the asset's carrying amount. In such situations, the asset is written down to the present value of the estimated future cash flows. Factors that are considered when evaluating long-lived assets for impairment include a current expectation that it is more likely than not that the long-lived asset will be sold significantly before the end of its useful life, a significant decrease in the market price of the long-lived asset, and a significant change in the extent or manner in which the long-lived asset is being used. Valuation of Deferred Tax Assets —A valuation allowance is recorded to reduce Sotheby's deferred tax assets to the amount that is more likely than not to be realized. In assessing the need for the valuation allowance, management considers, among other things, projections of future taxable income and ongoing prudent and feasible tax planning strategies. If management determines that sufficient negative evidence exists (for example, if Sotheby's experiences cumulative three-year losses in a certain jurisdiction), then management will consider recording a valuation allowance against a portion or all of the deferred tax assets in that jurisdiction. If, after recording a valuation allowance, management's projections of future taxable income and other positive evidence considered in evaluating the need for a valuation allowance prove, with the benefit of hindsight, to be inaccurate, it could prove to be more difficult to support the realization of Sotheby's deferred tax assets. As a result, an additional valuation allowance could be required, which would have an adverse impact on Sotheby's effective income tax rate and results. Conversely, if, after recording a valuation allowance, management determines that sufficient positive evidence exists in the jurisdiction in which it recorded the valuation allowance (for example, if Sotheby's is no longer in a three-year cumulative loss position in the jurisdiction, and management expects to have future taxable income in that jurisdiction based upon its forecasts and the expected timing of deferred tax asset reversals), management may reverse a portion or all of the valuation allowance in that jurisdiction. In such situations, the adjustment made to the deferred tax asset would have a favorable impact on Sotheby's effective income tax rate and results in the period such determination was made. See Note 8 for information related to Income Taxes. Auction Guarantees —From time-to-time in the ordinary course of its business, Sotheby's will guarantee to a consignor a minimum sale price in connection with the sale of property at auction (an "auction guarantee"). In the event that the property sells for less than the guaranteed price, Sotheby's must perform under the auction guarantee by funding the difference between the sale price at auction and the amount of the auction guarantee. If the property does not sell, the amount of the auction guarantee must be paid, but Sotheby's takes ownership of the unsold property and may recover the amount paid through its future sale. The estimated fair value of Sotheby's obligation to perform under its auction guarantees is recorded on the Consolidated Balance Sheets within Accounts Payable and Accrued Liabilities. This estimated fair value is based on an analysis of historical loss experience related to auction guarantees and does not include the impact of risk-sharing arrangements that may have mitigated all or a portion of any historical losses. See Note 16 for information related to auction guarantees. Financial Instruments —Sotheby's material financial instruments include: (i) Cash and Cash Equivalents, (ii) Restricted Cash, (iii) Notes Receivable, (iv) credit facility borrowings, (v) the York Property Mortgage, (vi) the interest rate swap and interest rate collar associated with the York Property Mortgage, (vii) other long-term debt, (viii) the Deferred Compensation Liability and related trust assets, and (ix) outstanding forward exchange contracts. The carrying amounts of Cash and Cash Equivalents, Restricted Cash, Notes Receivable, the York Property Mortgage, and credit facility borrowings do not materially differ from their estimated fair values due to their nature and the variable interest rates associated with each of these financial instruments. See Notes 7, 15, and 18 for information on the fair value of Sotheby's other financial instruments. Revenue Recognition (Agency Commissions and Fees) —Through its Agency segment, Sotheby's accepts property on consignment, stimulates buyer interest through professional marketing techniques, and matches sellers, also known as consignors, to buyers through the auction or private sale process. Prior to offering a work of art for sale, Sotheby's specialists perform significant due diligence activities to authenticate and determine the ownership history of the property being sold. The revenue recognition policy for each of the principal components of Agency Commissions and Fees is described below. (1) Auction Commission Revenues —In its role as auctioneer, Sotheby's accepts property on consignment and matches sellers to buyers through the auction process. Following the auction, Sotheby's invoices the buyer for the purchase price of the property (including the commission owed by the buyer), collects payment from the buyer, and remits to the consignor the net sale proceeds after deducting its commissions, expenses and applicable taxes and royalties. Sotheby's auction commissions include those paid by the buyer ("buyer's premium") and those paid by the seller ("seller's commission") (collectively, "auction commission revenue"), both of which are calculated as a percentage of the hammer price of the property sold at auction. On the fall of the auctioneer's hammer, the highest bidder becomes legally obligated to pay the full purchase price, which includes the hammer price of the property purchased plus the buyer's premium, and the seller is legally obligated to relinquish the property in exchange for the hammer price less any seller's commissions. Auction commission revenue is recognized on the date of the auction sale upon the fall of the auctioneer's hammer, which is the point in time when Sotheby's has substantially accomplished what it must do to be entitled to the benefits represented by the auction commission revenue. Subsequent to the date of the auction sale, Sotheby's remaining obligations for its auction services relate only to the collection of the purchase price from the buyer and the remittance of the net sale proceeds to the seller. These remaining service obligations are not an essential part of the auction services provided by Sotheby's. Under the standard terms and conditions of its auction sales, Sotheby's is not obligated to pay the consignor for property that has not been paid for by the buyer. If a buyer defaults on payment, the sale may be cancelled, and the property will be returned to the consignor. Management continually evaluates the collectability of amounts due from individual buyers and only recognizes auction commission revenue when the collection of the amount due from the buyer is reasonably assured. If management determines that it is probable that the buyer will default, a cancelled sale is recorded in the period in which that determination is made and the associated Accounts Receivable balance, including Sotheby's auction commission, is reversed. Management's judgments regarding the collectability of Accounts Receivable are based on an assessment of the buyer's payment history, discussions with the buyer, and the value of any property held as security against the buyer's payment obligation. Management's judgments with respect to the collectability of amounts due from buyers for auction purchases may prove, with the benefit of hindsight, to be incorrect. Historically, cancelled sales have not been material in relation to the aggregate hammer price of property sold at auction. Auction commission revenues are recorded net of commissions owed to third parties, which are principally the result of situations when the buyer's premium is shared with the consignor or with the counterparty in an auction guarantee risk and reward sharing arrangement (see Note 16 ). Additionally, in certain situations, auction commissions are shared with third parties who introduce Sotheby's to consignors who sell property at auction or otherwise facilitate the sale of property at auction. (2) Private Sale Commission Revenues —Private sale commission revenues are earned through the direct brokering of purchases and sales of art. Similar to auction sales, the primary service that Sotheby's provides in a private sale transaction is the matching of the seller to a buyer in a legally binding transaction. Private sales are initiated either by a client wishing to sell property with Sotheby's acting as its exclusive agent in the transaction or a prospective buyer who is interested in purchasing a certain work of art privately. Such arrangements are evidenced by a legally binding agreement between Sotheby's and the seller (a "Seller Agreement"), which outlines the terms of the arrangement, including the desired sale price and the amount or rate of commission to be earned. In certain situations, Sotheby's may also execute a legally binding agreement with the buyer stipulating the terms of the transaction (a "Buyer Agreement"). The timing of revenue recognition for private sale commissions is evaluated on a case-by-case basis, and in large part, is dependent upon whether a Buyer Agreement has been executed. Additionally, a careful analysis of the individual facts and circumstances is performed for each transaction to fully understand Sotheby's obligations and performance requirements related to the transaction. In transactions with a Buyer Agreement, Sotheby's services are performed on the date that the Buyer Agreement is executed. At this point, any remaining service obligations are considered to be inconsequential and perfunctory. Such remaining service obligations normally relate only to the collection of the purchase price from the buyer and the remittance of the net sale proceeds to the seller. These remaining service obligations are not an essential part of the services that Sotheby's provides in a private sale transaction. In the absence of an executed Buyer Agreement, revenue recognition is deferred until Sotheby's has performed its substantive service obligations in the transaction and the buyer has paid the full purchase price thereby evidencing the terms of the arrangement. Private sale commission revenues are recorded within Agency Commissions and Fees in the Consolidated Income Statements. Private sale commission revenues are recorded net of commissions owed to third parties. In certain situations, commissions are shared with third parties who introduce Sotheby's to consignors who sell property through a private sale transaction. (3) Auction Guarantees, Net —This component of Agency Commissions and Fees includes Sotheby's share of overage or shortfall related to guaranteed property offered or sold at auction. The overage or shortfall related to guaranteed property is generally recognized in the period in which the property is offered at auction. However, a shortfall is recognized prior to the date of the auction if management determines that a loss related to an auction guarantee is probable. In such situations, the amount of the loss is estimated by management based on the difference between the amount of the auction guarantee and the expected selling price of the property, including buyer's premium. Revenue Recognition (Inventory Sales) —Inventory sales are recognized in the period in which the sale is completed, title to the property passes to the purchaser and Sotheby's has fulfilled any other obligations that may be relevant to the transaction, including, but not limited to, delivery of the property. In instances when Inventory is sold at auction, the associated buyer's premium is recorded within Inventory Sales. The carrying value of Inventory sold during a period is recorded within Cost of Inventory Sales. Revenue Recognition (Finance Revenues) —Finance revenues consist principally of interest income earned on Notes Receivable. Such interest income is recognized when earned, based on the amount of the outstanding loan, the applicable interest rate on the loan, and the length of time the loan is outstanding during the period. A non-accrual loan is a loan for which future Finance revenue is not recorded due to management's determination that it is probable that future interest on the loan is not collectible. Any cash receipts subsequently received on non-accrual loans are first applied to reduce the recorded principal balance of the loan, with any proceeds in excess of the principal balance then applied to interest owed by the borrower. The recognition of Finance revenue may resume on a non-accrual loan if sufficient additional collateral is provided by the borrower or if management becomes aware of other circumstances that indicate that it is probable that the borrower will make future interest payments on the loan. Sales, Use and Value-Added Taxes —Sales, use and value-added taxes assessed by governmental authorities that are both imposed on and concurrent with revenue-producing transactions between Sotheby's and its clients are reported on a net basis within revenues. Agency Direct Costs —A large portion of Agency Direct Costs relate to sale marketing expenses such as catalogue production and distribution, advertising and promotion costs, and traveling exhibition costs. Such costs are deferred and recorded on the Consolidated Balance Sheets within Prepaid Expenses and Other Current Assets until the date of the sale when they are recognized in the Consolidated Income Statements. Cost of Finance Revenues —The Cost of Finance Revenues includes borrowing costs related to the Finance segment's revolving credit facility, including interest expense, commitment fees, and the amortization of amendment and arrangement fees. See Note 7 for information related to the Finance segment's revolving credit facility. Share-Based Payments —Sotheby's grants share-based payment awards as compensation to certain employees. The amount of compensation expense recognized for share-based payments is based on management's estimate of the number of shares ultimately expected to vest as a result of employee service. For share-based payment awards that vest annually over a multi-year period of service, compensation expense is amortized over the requisite service period according to a graded vesting schedule. For share-based payment awards that vest at the end of a service period, compensation expense is amortized on a straight-line basis over the requisite service period. A substantial portion of the share-based payment awards vest only if Sotheby's achieves established profitability targets. The amount and timing of compensation expense recognized for such performance-based awards is dependent upon management's quarterly assessment of the likelihood and timing of achieving these future profitability targets. Accordingly, if management's projections of future profitability prove, with the benefit of hindsight, to be inaccurate, the amount of life-to-date and future compensation expense related to share-based payments could significantly increase or decrease. In 2015, Sotheby's granted a share-based payment award to Thomas S. Smith, Jr., its President and Chief Executive Officer, with a single vesting opportunity after a five -year service period contingent upon the achievement of pre-determined levels of Sotheby's stock price appreciation. The compensation expense recognized for this share-based payment is based on management's estimate of the grant date fair value of the award. In developing this estimate, management considers current market conditions, historical data, and any other relevant data. Dividend equivalents related to share-based payments to employees are charged to Retained Earnings. See Note 12 for information related to share-based payments. Use of Estimates —The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates and could change in the short-term.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share —Basic earnings per share attributable to Sotheby's common shareholders is computed under the two-class method using the weighted average number of common shares outstanding during the period. The two-class method requires that the amount of net income attributable to participating securities be deducted from consolidated net income in the computation of basic earnings per share. In periods with a net loss, the net loss attributable to participating securities is not deducted from consolidated net loss in the computation of basic loss per share as the impact would be anti-dilutive. Sotheby's participating securities include unvested restricted stock units and unvested restricted stock shares, both of which have non-forfeitable rights to dividends. Diluted earnings per share —Diluted earnings per share attributable to Sotheby's common shareholders is computed in a similar manner to basic earnings per share under the two-class method, using the weighted average number of common shares outstanding during the period and, if dilutive, the weighted average number of potential common shares outstanding during the period. Sotheby's potential common shares include unvested performance share units held by employees, incremental common shares issuable upon the exercise of employee stock options, and deferred stock units held by members of the Board of Directors. In 2013, Sotheby's potential common shares also included the net shares that would have been delivered to settle the premium upon conversion of then-outstanding convertible debt, as well as the net shares that would have been issued upon the exercise of then-outstanding common stock warrants. See Note 7 for information on Sotheby's 3.125% Convertible Notes, which were settled in June 2013, and the related common stock warrants that were settled in the fourth quarter of 2013. See Note 12 for information on Sotheby's share-based payment programs. For the years ended December 31, 2015 , 2014 , and 2013 , 0.9 million , 1.1 million , and 1 million potential common shares, respectively, related to unvested performance share units were excluded from the computation of diluted earnings per share because the profitability or stock price targets inherent in such awards were not achieved as of the respective balance sheet dates. The table below summarizes the computation of basic and diluted earnings per share for the years ended December 31, 2015 , 2014 , and 2013 (in thousands of dollars, except per share amounts): 2015 2014 2013 Basic: Numerator: Net income attributable to Sotheby's $ 43,727 $ 117,795 $ 130,006 Less: Net income attributable to participating securities 354 1,047 60 Net income attributable to Sotheby's common shareholders $ 43,373 $ 116,748 $ 129,946 Denominator: Weighted average common shares outstanding 68,121 69,016 68,374 Basic earnings per share - Sotheby's common shareholders $ 0.64 $ 1.69 $ 1.90 Diluted: Numerator: Net income attributable to Sotheby's $ 43,727 $ 117,795 $ 130,006 Less: Net income attributable to participating securities 354 1,047 60 Net income attributable to Sotheby's common shareholders $ 43,373 $ 116,748 $ 129,946 Denominator: Weighted average common shares outstanding 68,121 69,016 68,374 Weighted average effect of dilutive potential common shares: Convertible debt — — 97 Performance share units 438 407 428 Deferred stock units 167 162 150 Stock options 18 21 77 Warrants — — 49 Weighted average dilutive potential common shares outstanding 623 590 801 Weighted average diluted shares outstanding 68,744 69,606 69,175 Diluted earnings per share - Sotheby's common shareholders $ 0.63 $ 1.68 $ 1.88

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2015
Segment Reporting, Measurement Disclosures [Abstract]
Segment Reporting	Segment Reporting Overview —Sotheby's is a global art business whose operations are organized under two segments—Agency and Finance. The Agency segment earns commissions by matching buyers and sellers of authenticated works of art through the auction or private sale process. To a much lesser extent, Agency segment activities also include the sale of artworks that are principally acquired incidental to the auction process and the activities of RM Sotheby's, an equity investee that operates as an auction house for investment-quality automobiles (see Note 5). The Finance segment earns interest income through art-related financing activities by making loans that are secured by works of art (see Note 4). Prior to the second quarter of 2015, Sotheby's also separately reported the results of the Principal segment, which consisted of its dealer-related activities and primarily included the sale of artworks purchased opportunistically by Sotheby's. In the second quarter of 2015, Sotheby's transitioned to its new CEO (and chief operating decision maker), and the information regularly reviewed for the purpose of allocating resources and assessing performance was updated to reflect a simplified internal reporting structure. As a result, beginning in the second quarter of 2015, the sale of artworks purchased opportunistically by Sotheby's is reported as part of the Agency segment. The remaining activities of the former Principal segment are reported within All Other. Such activities include Sotheby's retail wine operations, Acquavella Modern Art ("AMA"), an equity investee (see Note 5), and sales of the remaining inventory of Noortman Master Paintings, an art dealer that was owned and operated by Sotheby's from its acquisition in June 2006 until its closure in December 2013. Prior period amounts have been restated to reflect this new segment presentation. Agency Segment —Through the Agency segment, Sotheby's accepts property on consignment, stimulates buyer interest through professional marketing techniques, and matches sellers, also known as consignors, to buyers through the auction or private sale process. Prior to offering a work of art for sale, Sotheby's specialists perform significant due diligence activities to authenticate and determine the ownership history of the property being sold. To a much lesser extent, Agency segment activities also include the sale of artworks that are principally acquired incidental to the auction process (see Note 1). The Agency segment is an aggregation of the auction, private sale, and other related activities conducted by Sotheby's operating segments in the Americas, Europe, and Asia, which have similar economic characteristics and are similar in their services, customers, and the manner in which their services are provided. Finance Segment —The Finance segment provides certain collectors and art dealers with financing secured by works of art that Sotheby's either has in its possession or permits borrowers to possess. The Finance segment generally makes two types of secured loans: (1) advances secured by consigned property where the borrowers are contractually committed, in the near term, to sell the property through the Agency segment (a "consignor advance"); and (2) general purpose term loans secured by property not presently intended for sale (a "term loan"). All Other —All Other includes the remaining activities of the former Principal segment, as discussed above, as well as the results of Sotheby's brand licensing activities and other ancillary businesses, which are not material to Sotheby's consolidated financial statements. The accounting policies of Sotheby's segments are the same as those described in Note 1. For auction commissions, revenues are attributed to geographic areas based on the location of the auction. For private sale commissions, revenues are attributed to geographic areas based on the location of the entities which significantly contributed to the completion of the sale. For inventory activities, revenues are attributed to geographic areas based on the location of the entity that holds legal title to the property sold. Finance segment revenues are attributed to geographic areas based on the location of the entity that originated the loan. The following table presents Sotheby's segment information for 2015 , 2014 , and 2013 (in thousands of dollars): Year ended December 31, 2015 Agency Finance All Other Reconciling items Total Revenues $ 892,030 $ 65,248 $ 18,975 $ (14,759 ) (a) $ 961,494 Interest income $ 1,773 $ 3 $ — $ — $ 1,776 Interest expense $ 32,745 $ — $ — $ — $ 32,745 Depreciation and amortization $ 19,233 $ 124 $ 124 $ — $ 19,481 Segment income before taxes $ 139,942 $ 41,303 $ 10,864 $ (22,810 ) $ 169,299 Year ended December 31, 2014 Revenues $ 885,293 $ 47,290 $ 19,747 $ (14,277 ) (a) $ 938,053 Interest income $ 1,857 $ 18 $ 8 $ — $ 1,883 Interest expense $ 35,189 $ — $ — $ — $ 35,189 Depreciation and amortization $ 20,110 $ 130 $ 335 $ — $ 20,575 Segment income before taxes $ 182,763 $ 31,763 (b) $ 7,424 $ (28,929 ) $ 193,021 Year ended December 31, 2013 Revenues $ 799,886 $ 32,792 $ 32,515 $ (11,515 ) (a) $ 853,678 Interest income $ 3,860 $ — $ 31 $ (1,090 ) (c) $ 2,801 Interest expense $ 42,636 $ 67 $ 9 $ — $ 42,712 Depreciation and amortization $ 19,072 $ 125 $ 238 $ — $ 19,435 Segment income (loss) before taxes $ 164,348 $ 23,009 (b) $ (265 ) $ (1,399 ) $ 185,693 (a) The reconciling items related to Revenues consist principally of amounts charged by the Finance segment to the Agency segment, including interest and facility fees related to certain loans made to Agency segment clients, as well as, beginning on January 1, 2015, fees charged for term loan collateral sold at auction or privately through the Agency segment. In 2015, fees related to such collateral sales totaled $7.8 million . Prior period segment results for 2014 and 2013 have been adjusted to include $5.3 million and $1.6 million , respectively, of such fees. (b) In 2014 and 2013, Finance segment income before taxes includes $2.1 million and $2.7 million , respectively, of intercompany charges from Sotheby's global treasury function. Beginning in 2015, these charges are no longer applicable due to the financing of the Finance segment's loan portfolio with debt. See Notes 3 and 7 for information on the capital structure of the Finance segment and the financing of client loans with debt. (c) In 2013, the reconciling item related to Interest Income relates to charges from the Agency segment to the Finance segment for intercompany borrowing costs. Beginning in 2014, these charges are no longer applicable due to the financing of the Finance segment's loan portfolio with debt. See Notes 3 and 7 for information on the capital structure of the Finance segment and the financing of client loans with debt. For the years ended December 31, 2015 , 2014 , and 2013 Agency segment revenues consisted of the following (in thousands of dollars): 2015 2014 2013 Auction commissions $ 719,152 $ 758,213 $ 687,853 Private sale commissions 61,256 60,183 88,171 Auction guarantees (net) (11,567 ) (15,462 ) (2,186 ) Other (a) 23,079 22,192 19,801 Total Agency commissions and fees 791,920 825,126 793,639 Inventory Sales 100,110 60,167 6,247 Total Agency segment revenues $ 892,030 $ 885,293 $ 799,886 (a) Includes commissions and other fees earned by Sotheby's on sales brokered by third parties, fees charged to consignors for property withdrawn prior to auction and for catalogue production and insurance, and catalogue subscription and advertising revenues. The table below provides a reconciliation of segment revenues to consolidated revenues for the years ended December 31, 2015 , 2014 , and 2013 (in thousands of dollars): 2015 2014 2013 Agency $ 892,030 $ 885,293 $ 799,886 Finance 65,248 47,290 32,792 All Other 18,975 19,747 32,515 Segment revenues 976,253 952,330 865,193 Reconciling items: Intercompany charges from Finance to Agency (a) (14,759 ) (14,277 ) (11,515 ) Total revenues $ 961,494 $ 938,053 $ 853,678 (a) Includes interest charged for secured loans issued with an interest rate below the Finance segment's target rate, as well as facility fees charged for secured loans where the facility fee owed by the borrower is either reduced or waived. The reduction or waiver of such interest and fees is done as an accommodation to the Agency segment to secure a consignment or enhance a client relationship. Also, beginning on January 1, 2015, this reconciling item includes fees charged for term loan collateral sold at auction or privately through the Agency segment. Such fees are paid to compensate the Finance segment for generating auction and private sale consignments. The table below details the unallocated amounts and reconciling items related to segment income before taxes and provides a reconciliation of segment income before taxes to consolidated income before taxes for the years ended December 31, 2015 , 2014 , and 2013 (in thousands of dollars): 2015 2014 2013 Agency $ 139,942 $ 182,763 $ 164,348 Finance 41,303 31,763 23,009 All Other 10,864 7,424 (265 ) Segment income before taxes 192,109 221,950 187,092 Unallocated amounts and reconciling items: Leadership transition severance costs (a) (13,251 ) — — CEO separation and transition costs (see Note 20) (4,232 ) (7,591 ) — Special charges (net) (see Note 22) — (20,008 ) (1,372 ) Equity in earnings of investees (b) (5,327 ) (1,330 ) (27 ) Income before taxes $ 169,299 $ 193,021 $ 185,693 (a) In 2015, Sotheby's incurred severance costs of $13.3 million associated with the termination of certain executive officers, including its former Chief Financial Officer and former Chief Operating Officer, in conjunction with Sotheby's recent leadership transition. (b) For segment reporting purposes, Sotheby's share of earnings related to its equity investees is included as part of income before taxes. However, such earnings are reported separately below income before taxes in the Consolidated Income Statements. In 2015, Agency segment results includes $2.5 million of equity earnings related to RM Sotheby's. In 2015 and 2014, All Other includes $2.8 million and $1.3 million , respectively, of equity earnings related to Acquavella Modern Art. See Note 5 for information related to Sotheby's equity method investments. The table below presents geographic information about revenues for the years ended December 31, 2015 , 2014 , and 2013 for all countries which exceeded 5% of total revenues (in thousands of dollars): 2015 2014 2013 United States $ 463,129 $ 402,385 $ 353,474 United Kingdom (the "U.K.") 257,336 271,505 230,304 Hong Kong and China 146,262 165,066 153,909 Switzerland 50,134 46,226 41,150 France 41,803 48,032 46,891 Other countries 17,589 19,116 39,465 Reconciling item: Intercompany revenue (14,759 ) (14,277 ) (11,515 ) Total $ 961,494 $ 938,053 $ 853,678 The table below presents assets for Sotheby's segments, as well as a reconciliation of segment assets to consolidated assets as of December 31, 2015 , 2014 and 2013 (in thousands of dollars): December 31, 2015 2014 2013 Agency $ 2,510,257 $ 2,391,763 $ 2,314,356 Finance 721,781 658,710 480,103 All Other 25,178 29,067 31,182 Total segment assets 3,257,216 3,079,540 2,825,641 Unallocated amounts: Deferred tax assets and income tax receivable 16,913 55,280 67,905 Consolidated assets $ 3,274,129 $ 3,134,820 $ 2,893,546 Substantially all of Sotheby's capital expenditures in 2015 , 2014 , and 2013 were attributable to the Agency segment.

Receivables

Receivables	12 Months Ended
	Dec. 31, 2015
Accounts and Notes Receivable, Net [Abstract]
Receivables	Receivables Accounts Receivable (Net) —Through its Agency segment, Sotheby's accepts property on consignment and matches sellers, also known as consignors, to buyers through the auction or private sale process. Following an auction or private sale, Sotheby's invoices the buyer for the purchase price of the property (including any commissions owed by the buyer), collects payment from the buyer, and remits to the consignor the net sale proceeds after deducting its commissions, expenses and applicable taxes and royalties. Under Sotheby's standard auction payment terms, payments from buyers are due no more than 30 days from the sale date and payments to consignors are due 35 days from the sale date. For private sales, payment from the buyer is typically due on the sale date, with the net sale proceeds due to the consignor shortly thereafter. Extended payment terms are sometimes provided to an auction or private sale buyer. For auctions, the extent to which extended payment terms are provided to buyers can vary considerably from selling season to selling season. Extended payment terms typically extend the payment due date to a date that is no longer than one year from the sale date. In limited circumstances, the payment due date may be extended to a date that is beyond one year from the sale date. When providing extended payment terms, Sotheby's attempts to match the timing of cash receipt from the buyer with the timing of payment to the consignor, but is not always successful in doing so. All extended payment term arrangements are approved by management under Sotheby's internal corporate governance policy. In the limited circumstances when the payment due date is extended to a date that is beyond one year from the sale date, if the consignor does not provide Sotheby's matched payment terms (i.e., Sotheby's pays the consignor prior to receiving payment from the buyer), the receivable balance is reclassified from Accounts Receivable to Notes Receivable in the Consolidated Balance Sheets. As of December 31, 2015 and 2014 , Notes Receivable within the Agency segment included $24.3 million and $22.7 million of amounts reclassified from Accounts Receivable. See discussion of Agency segment Notes Receivable below. Under the standard terms and conditions of its auction and private sales, Sotheby's is not obligated to pay the consignor for property that has not been paid for by the buyer. If a buyer defaults on payment, the sale may be cancelled, and the property will be returned to the consignor. Alternatively, the consignor may reoffer the property at a future Sotheby's auction or negotiate a private sale with Sotheby's acting as its agent. In certain instances and subject to management approval under Sotheby's internal corporate governance policy, the consignor may be paid the net sale proceeds before payment is collected from the buyer and/or the buyer may be allowed to take possession of the property before making payment. In situations when the buyer takes possession of the property before making payment, Sotheby's is liable to the seller for the net sales proceeds whether or not the buyer makes payment. As of December 31, 2015 and 2014 , Accounts Receivable (net) includes $165.2 million and $116 million , respectively, related to situations when Sotheby's paid the consignor all or a portion of the net sales proceeds before payment was collected from the buyer. As of December 31, 2015 and 2014 , Accounts Receivable (net) also includes $93.1 million and $96.5 million , respectively, related to situations in which the buyer has taken possession of the property before making payment to Sotheby's. Notes Receivable (Finance Segment) —The Finance segment provides certain collectors and art dealers with financing secured by works of art that Sotheby's either has in its possession or permits borrowers to possess. The Finance segment generally makes two types of secured loans: (1) advances secured by consigned property where the borrowers are contractually committed, in the near term, to sell the property through Sotheby's Agency segment (a "consignor advance") and (2) general purpose term loans secured by property not presently intended for sale (a "term loan"). Consignor advances allow sellers to receive funds upon consignment for an auction or private sale that will typically occur up to one year in the future and normally have short-term maturities. Term loans allow Sotheby's to establish or enhance mutually beneficial relationships with borrowers and may generate future auction or private sale consignments and/or purchases. In certain situations, term loans are also made to refinance accounts receivable generated by clients' auction and private sale purchases. Term loans normally have initial maturities of up to two years and typically carry a variable market rate of interest. Prior to 2014, the lending activities of the Finance segment were funded primarily by the operating cash flows of the Agency segment, with the ability to supplement those cash flows with revolving credit facility borrowings. In January 2014, in order to reduce the Finance segment's cost of capital and enhance returns, Sotheby's established a separate capital structure for the Finance segment through which client loans are predominantly funded with borrowings drawn from a dedicated revolving credit facility. The establishment of the Finance segment's dedicated revolving credit facility has allowed Sotheby's to finance a substantial portion of the Finance segment loan portfolio with debt. Cash balances are also used to fund a portion of the Finance segment loan portfolio, as appropriate. See Note 7 for information related to the Finance segment's dedicated revolving credit facility. As of December 31, 2015 and 2014 , Notes Receivable (net) related to the Finance segment consisted of the following (in thousands of dollars): December 31, 2015 2014 Consignor advances $ 30,180 $ 25,994 Term loans 652,078 618,447 Total Finance segment Notes Receivable (net) $ 682,258 $ 644,441 As of December 31, 2015 and 2014 , the table above includes $108.8 million and $90.4 million , respectively, of term loans made by the Finance segment to refinance clients' auction and private sale purchases. For the years ended December 31, 2015 and 2014 , the Finance Segment made $50.2 million and $65.6 million , respectively, of such loans. These loans are accounted for as non-cash transfers between Accounts Receivable (net) and Notes Receivable (net) and are, therefore, not reflected as the funding of Notes Receivable within Investing Activities in the Consolidated Statements of Cash Flows. Upon repayment, the cash received in settlement of such loans is classified within Operating Activities in the Consolidated Statements of Cash Flows. In 2015 and 2014 , such repayments totaled $31.8 million and $38.1 million , respectively. The collection of secured loans can be adversely impacted by a decline in the art market in general or in the value of the collateral, which is concentrated within certain collecting categories. In addition, in situations when there are competing claims on the collateral and/or when a borrower becomes subject to bankruptcy or insolvency laws, Sotheby's ability to realize on its collateral may be limited or delayed. Management aims to mitigate the risks associated with potential collateral devaluation by targeting a 50% loan-to-value ("LTV") ratio (i.e., the principal loan amount divided by the low auction estimate of the collateral). Loans may also be made with LTV ratios between 51% and 60% as the Finance segment credit facility permits borrowings on loans with an LTV of up to 60% . In rare circumstances, loans are also made at an initial LTV ratio higher than 60% . In addition, the LTV ratio of certain loans may increase above the 50% target due to decreases in the low auction estimates of the collateral. The revaluation of loan collateral is performed by Sotheby's specialists on an annual basis or more frequently if there is a material change in circumstances related to the loan, the value of the collateral, the disposal plans for the collateral, or if an event of default occurs. Management believes that the LTV ratio is a critical credit quality indicator for Finance segment secured loans. The table below provides the aggregate LTV ratio for the Finance segment loan portfolio of secured loans as of December 31, 2015 and 2014 (in thousands of dollars): December 31, 2015 2014 Finance segment secured loans $ 682,258 $ 644,441 Low auction estimate of collateral $ 1,380,022 $ 1,349,094 Aggregate LTV ratio 49 % 48 % The table below provides the aggregate LTV ratio for Finance segment secured loans with an LTV above 50% as of December 31, 2015 and 2014 (in thousands of dollars): December 31, 2015 2014 Finance segment secured loans with an LTV ratio above 50% $ 354,049 $ 329,135 Low auction estimate of collateral related to Finance segment secured loans with an LTV above 50% $ 626,829 $ 556,662 Aggregate LTV ratio of Finance segment secured loans with an LTV above 50% 56% 59% The table below provides other credit quality information regarding Finance segment secured loans as of December 31, 2015 and 2014 (in thousands of dollars): December 31, 2015 2014 Total secured loans $ 682,258 $ 644,441 Loans past due $ 11,819 $ 22,409 Loans more than 90 days past due $ 7,828 $ — Non-accrual loans $ — $ — Impaired loans $ — $ — Allowance for credit losses: Allowance for credit losses for impaired loans $ — $ — Allowance for credit losses based on historical data 1,458 1,166 Total allowance for credit losses - secured loans $ 1,458 $ 1,166 Management considers a loan to be past due when principal payments are not paid in accordance with the stated terms of the loan. As of December 31, 2015 , $11.8 million of the Notes Receivable (net) balance was considered to be past due, of which $7.8 million was more than 90 days past due. The collateral securing these loans has low auction estimates of approximately $28.5 million and $16.9 million , respectively, resulting in an LTV ratio for these loans of 41% and 46% , respectively. Sotheby's is continuing to accrue interest on these past due loans. In consideration of payments received to-date in the first quarter of 2016 , the collateral value related to these loans, current collateral disposal plans, and negotiations with the borrowers, management believes that the principal and interest amounts due for these loans will be collected. A non-accrual loan is a loan for which future Finance revenue is not recorded due to management's determination that it is probable that future interest on the loan is not collectible. Any cash receipts subsequently received on non-accrual loans are first applied to reduce the recorded principal balance of the loan, with any proceeds in excess of the principal balance then applied to interest owed by the borrower. The recognition of Finance revenue may resume on a non-accrual loan if sufficient additional collateral is provided by the borrower or if management becomes aware of other circumstances that indicate that it is probable that the borrower will make future interest payments on the loan. As of December 31, 2015 and 2014 , there were no non-accrual loans outstanding. A loan is considered to be impaired when management determines that it is probable that a portion of the principal and interest owed by the borrower will not be recovered after taking into account the estimated realizable value of the collateral securing the loan, as well as the ability of the borrower to repay any shortfall between the value of the collateral and the amount of the loan. If a loan is considered to be impaired, Finance Revenue is no longer recognized and bad debt expense is recorded for any principal or accrued interest that is deemed uncollectible. As of December 31, 2015 and 2014 , there were no impaired loans outstanding. During the period January 1, 2014 to December 31, 2015 , activity related to the Allowance for Credit Losses was as follows (in thousands of dollars): Allowance for Credit Losses as of January 1, 2014 $ 1,746 Change in loan loss provision (580 ) Allowance for Credit Losses as of December 31, 2014 1,166 Change in loan loss provision 292 Allowance for Credit Losses as of December 31, 2015 $ 1,458 As of December 31, 2015 , unfunded commitments to extend additional credit through Sotheby's Finance segment were $7.6 million . Notes Receivable (Agency Segment) —Sotheby's is obligated under the terms of certain auction guarantees to advance a portion of the guaranteed amount prior to the auction. In addition, in certain limited situations, the Agency segment will also provide advances to consignors that are secured by property scheduled to be offered at auction in the near term. Such auction guarantee and Agency segment consignor advances are recorded on the Consolidated Balance Sheets within Notes Receivable (net). As of December 31, 2014 , auction guarantee advances totaled $25 million . There were no auction guarantee advances or Agency segment consignor advances outstanding as of December 31, 2015. See Note 16 for information related to auction guarantees. In the limited circumstances when the payment due date for an auction or private sale receivable is extended to a date that is beyond one year from the sale date, if the consignor does not provide Sotheby's matched payment terms, the receivable balance is reclassified from Accounts Receivable to Notes Receivable in the Consolidated Balance Sheets. As of December 31, 2015 , Notes Receivable within the Agency segment included $24.3 million of amounts reclassified from Accounts Receivable against which Sotheby's holds $7.2 million of collateral. As of December 31, 2014 , Notes Receivable within the Agency segment included $22.7 million of such loans, against which Sotheby's held $3.9 million of collateral. These Notes Receivable are accounted for as non-cash transfers between Accounts Receivable (net) and Notes Receivable (net) and are, therefore, not reflected within Investing Activities in the Consolidated Statements of Cash Flows. Upon repayment, the cash received in settlement of such Notes Receivable is classified within Operating Activities in the Consolidated Statements of Cash Flows. Under certain circumstances, Sotheby's provides loans to certain art dealers to finance the purchase of works of art. In these situations, Sotheby's acquires a partial ownership interest or a security interest in the purchased property in addition to providing the loan. Upon the eventual sale of the property acquired, the loan is repaid. As of December 31, 2015 and 2014 , such unsecured loans totaled $4.2 million and $4.9 million , respectively. Sotheby's is no longer accruing interest with respect to one of these loans with a balance of $2.1 million , but management believes that this balance is collectible. Notes Receivable (Other) —In the second quarter of 2013, Sotheby's sold its interest in an equity method investee for $4.3 million , and, as a result, recognized a gain of $0.3 million in Other Income. The sale price was funded by an upfront cash payment to Sotheby's of $0.8 million and the issuance of a $3.5 million unsecured loan. This loan matures in December 2018, is being charged a variable market rate of interest, and requires monthly payments during the loan term. As of December 31, 2015 and 2014 , the carrying value of this loan was $2.4 million and $2.7 million .

Equity Method Investments

Equity Method Investments	12 Months Ended
	Dec. 31, 2015
Equity Method Investment, Summarized Financial Information [Abstract]
Equity Method Investments	Equity Method Investments Acquavella Modern Art ("AMA")— On May 23, 1990, Sotheby's purchased the common stock of the Pierre Matisse Gallery Corporation ("Matisse") for approximately $153 million . The assets of Matisse consisted of a collection of fine art (the "Matisse Inventory"). Upon consummation of the purchase, Sotheby's entered into an agreement with Acquavella Contemporary Art, Inc. ("ACA") to form AMA, a partnership through which the Matisse Inventory would be sold. Sotheby's contributed the Matisse Inventory to AMA in exchange for a 50% interest in the partnership. Although the original term of the AMA partnership agreement was for ten years and was due to expire in 2000, it has been renewed on an annual basis since then. Pursuant to the AMA partnership agreement, upon the death of the majority shareholder of ACA, the successors-in-interest to ACA have the right, but not the obligation, to require Sotheby's to purchase their interest in AMA at a price equal to the fair market value of such interest. The fair market value shall be determined pursuant to a process and a formula set forth in the partnership agreement that includes an appraisal of the works of art held by AMA at such time. Upon dissolution of AMA, if Sotheby's and ACA elect not to liquidate the property and assets of AMA, any assets remaining after the payment of expenses and any other liabilities of AMA will be distributed to Sotheby's and AMA as tenants-in-common or in some other reasonable manner. The net assets of AMA consist almost entirely of the Matisse Inventory. As of December 31, 2015 and 2014 , the carrying value of the Matisse Inventory was $41.4 million and $44.8 million , respectively. As of December 31, 2015 and 2014 , the carrying value of Sotheby's investment in AMA was $8.5 million and $10.2 million , respectively. In 2015, 2014, and 2013, Sotheby's results include $2.8 million , $0.7 million , and ($0.1) million , respectively, of equity earnings (losses) related to AMA. From time-to-time, Sotheby's transacts with the principal shareholder of ACA in the normal course of its business. RM Sotheby's— On February 18, 2015, Sotheby's acquired a 25% ownership interest in RM Auctions, an auction house for investment-quality automobiles, for $30.7 million . Following this investment, RM Auctions is now known as RM Sotheby's. In addition to the initial 25% ownership interest, Sotheby's has governance participation and a comprehensive partnership agreement to work together to drive growth in the business. Over time, Sotheby's will have opportunities to increase its ownership stake as the partnership evolves and grows. As of December 31, 2015 , the carrying value of Sotheby's investment in RM Sotheby's was $33.2 million . In 2015, Sotheby's results include $2.5 million of equity earnings related to RM Sotheby's. Other— In the second quarter of 2013, Sotheby's sold its interest in another equity method investee for $4.3 million and, as a result, recognized a gain of $0.3 million in Other Income. The sale price was funded by an upfront cash payment to Sotheby's of $0.8 million and the issuance of a $3.5 million unsecured loan (see Note 4).

Fixed Assets

Fixed Assets	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Fixed Assets	Fixed Assets As of December 31, 2015 and 2014 , Fixed Assets consisted of the following (in thousands of dollars): December 31, 2015 2014 Land $ 93,078 $ 93,353 Buildings and building improvements 226,530 226,465 Leasehold improvements 82,011 83,643 Computer hardware and software 73,728 71,422 Furniture, fixtures and equipment 78,529 78,182 Construction in progress 2,090 1,401 Other 2,015 1,176 Sub-total 557,981 555,642 Less: Accumulated depreciation and amortization (203,487 ) (191,260 ) Total Fixed Assets, net $ 354,494 $ 364,382 In 2015 , 2014 , and 2013 , Depreciation and Amortization related to Fixed Assets was $19.5 million , $20.6 million , and $19.4 million , respectively.

Debt

Debt	12 Months Ended
	Dec. 31, 2015
Debt Instruments [Abstract]
Debt	Debt Revolving Credit Facility —Sotheby's and certain of its wholly-owned subsidiaries are parties to a credit agreement with an international syndicate of lenders, which provides for separate dedicated revolving credit facilities for the Agency segment (the "Agency Credit Facility") and the Finance segment (the "Finance Credit Facility") (the "Credit Agreement"). On June 15, 2015, the Credit Agreement was amended to increase the commitments under the Finance Credit Facility in order to further support the lending activities of the Finance segment and to extend the maturity date of the Credit Agreement by one year to August 22, 2020. The Agency Credit Facility is an asset-based revolving credit facility the proceeds of which may be used primarily for the working capital and other general corporate needs of the Agency segment. The Finance Credit Facility is an asset-based revolving credit facility the proceeds of which may be used primarily for the working capital and other general corporate needs of the Finance segment, including the funding of client loans. The Credit Agreement allows Sotheby's to transfer the proceeds of borrowings under each of the revolving credit facilities between the Agency and Finance segments. The maximum aggregate borrowing capacity of the Credit Agreement, subject to a borrowing base, is approximately $1.335 billion , with $300 million committed to the Agency segment and $1.035 billion committed to the Finance segment, including a $485 million increase that was secured for the Finance segment in conjunction with the June 2015 amendment. The borrowing capacity of the Agency Credit Facility includes a $50 million incremental revolving credit facility with higher advance rates against certain assets and higher commitment and borrowing costs (the "Incremental Facility"). The Incremental Facility has a maturity date of August 22, 2016, which may be extended for an additional 365 days on an annual basis with the consent of the lenders who agree to extend their commitments under the Incremental Facility. The Credit Agreement has a sub-limit of $400 million for borrowings in the U.K. and Hong Kong, with up to $50 million available for foreign borrowings under the Agency Credit Facility and up to $350 million available for foreign borrowings under the Finance Credit Facility. The Credit Agreement also includes an accordion feature, which allows Sotheby's to seek an increase to the combined borrowing capacity of the Credit Agreement until February 23, 2020 by an amount not to exceed $150 million in the aggregate. Though new commitments would need to be obtained, the uncommitted accordion feature permits Sotheby's to seek an increase to the aggregate commitments of either or both of the Agency and Finance Credit Facilities under an expedited arrangement process. The borrowing base under the Agency Credit Facility is determined by a calculation that is primarily based upon a percentage of the carrying values of certain auction guarantee advances (see Note 4), a percentage of the carrying value of certain inventory, a percentage of the carrying value of certain extended payment term receivables arising from auction or private sale transactions (see Note 4), and the fair value of certain of Sotheby's trademarks. The borrowing base under the Finance Credit Facility is determined by a calculation that is primarily based upon a percentage of the carrying values of certain loans in the Finance segment loan portfolio and the fair value of certain of Sotheby's trademarks. The borrowing base of the Incremental Facility is determined by a calculation that is based on a percentage of the carrying value of certain inventory and the fair value of certain of Sotheby's trademarks. The obligations under the Credit Agreement are cross-guaranteed and cross-collateralized. Domestic borrowers are jointly and severally liable for all obligations under the Credit Agreement and, subject to certain limitations, borrowers in the U.K. and Sotheby's Hong Kong Limited are jointly and severally liable for all obligations of the foreign borrowers under the Credit Agreement. In addition, the obligations of the borrowers under the Credit Agreement are guaranteed by certain of their subsidiaries. Sotheby's obligations under the Credit Agreement are secured by liens on all or substantially all of the personal property of the entities that are borrowers and guarantors under the Credit Agreement. The Credit Agreement contains certain customary affirmative and negative covenants including, but not limited to, limitations on capital expenditures and limitations on the use of proceeds from borrowings under the Credit Agreement. The Credit Agreement also has a covenant that provides for a limitation on net outstanding auction guarantees (i.e., the aggregate financial exposure under outstanding auction guarantees less the impact of related risk and reward sharing arrangements). On September 16, 2015, the Credit Agreement was amended to temporarily increase this limit to $800 million until February 29, 2016, after which it reverts to $600 million for the duration of the Credit Agreement. The Credit Agreement does not limit dividend payments and Common Stock repurchases provided that, both before and after giving effect thereto: (i) there are no events of default, (ii) the aggregate available borrowing capacity equals or exceeds $100 million , and (iii) the Liquidity Amount, as defined in the Credit Agreement, equals or exceeds $200 million . The Credit Agreement also contains certain financial covenants, which are only applicable during certain defined compliance periods. These financial covenants were not applicable for the twelve month period ended December 31, 2015 . Since August 2009, Sotheby's has incurred aggregate fees of approximately $21.4 million in conjunction with the establishment of and subsequent amendments to its credit agreement with General Electric Capital Corporation. These fees are being amortized on a straight-line basis through the August 22, 2020 maturity date of the Credit Agreement. The following tables summarize information relevant to the Credit Agreement as of and for the years ended December 31, 2015 and 2014 (in thousands of dollars): December 31, 2015 Agency Credit Facility Finance Credit Facility Total Maximum borrowing capacity (a) $ 300,000 $ 1,035,000 $ 1,335,000 Borrowing base (b) $ 225,642 $ 547,586 $ 773,228 Borrowings outstanding $ — $ 541,500 $ 541,500 Available borrowing capacity (c) $ 225,642 $ 6,086 $ 231,728 Average borrowings outstanding $ — $ 541,004 $ 541,004 Borrowing Costs - interest $ — (d) $ 14,060 (e) $ 14,060 Borrowing Costs - fee amortization $ 2,752 (d) $ 1,720 (e) $ 4,472 December 31, 2014 Agency Credit Facility Finance Credit Facility Total Maximum borrowing capacity (a) $ 300,000 $ 550,000 $ 850,000 Borrowing base (b) $ 237,830 $ 519,255 $ 757,085 Borrowings outstanding $ — $ 445,000 $ 445,000 Available borrowing capacity (c) $ 237,830 $ 74,255 $ 312,085 Average borrowings outstanding $ — $ 306,448 $ 306,448 Borrowing Costs - interest $ — (d) $ 7,751 (e) $ 7,751 Borrowing Costs - fee amortization $ 2,240 (d) $ 989 (e) $ 3,229 Legend: (a) In June 2015, the Credit Agreement was amended to, among other things, increase the maximum borrowing capacity of the Credit Agreement from $850 million to approximately $1.335 billion . (b) The borrowing base under the Agency Credit Facility is determined by a calculation that is primarily based upon a percentage of the carrying values of certain auction guarantee advances (see Note 4), a percentage of the carrying value of certain inventory, a percentage of the carrying value of certain extended payment term receivables arising from auction or private sale transactions (see Note 4), and the fair value of certain of Sotheby's trademarks. The borrowing base under the Finance Credit Facility is determined by a calculation that is primarily based upon a percentage of the carrying values of certain loans in the Finance segment loan portfolio and the fair value of certain of Sotheby's trademarks. The borrowing base of the Incremental Facility is determined by a calculation that is based on a percentage of the carrying value of certain inventory and the fair value of certain of Sotheby's trademarks. (c) The available borrowing capacity is calculated as the borrowing base less borrowings outstanding. (d) Borrowing costs related to the Agency Credit Facility, which include interest and fee amortization, are reflected in the Consolidated Income Statements within Interest Expense. See the table below for additional information related to Interest Expense associated with the Agency Credit Facility. (e) Borrowing costs related to the Finance Credit Facility are reflected in the Consolidated Income Statements within Cost of Finance Revenues. For the years ended December 31, 2015 and 2014 , the weighted average cost of borrowings related to the Finance Credit Facility was approximately 2.9% . Long-Term Debt —As of December 31, 2015 and 2014 , Long-Term Debt consisted of the following (in thousands of dollars): December 31, 2015 2014 York Property Mortgage, net of unamortized discount of $0 and $1,782 $ 322,069 $ 218,728 2022 Senior Notes 300,000 300,000 Less current portion: York Property Mortgage (7,302 ) (218,728 ) Total Long-Term Debt $ 614,767 $ 300,000 See the captioned sections below for information related to the York Property Mortgage and the 2022 Senior Notes, as well as information on the other debt instruments that were outstanding during the periods covered by this report. York Property Mortgage —On February 6, 2009, Sotheby's purchased the land and building located at 1334 York Avenue, New York, New York (the "York Property") from RFR Holding Corp. ("RFR") for a purchase price of $370 million . The York Property is home to Sotheby's sole North American auction salesroom and principal North American exhibition space, including S|2, Sotheby's private sale exhibition gallery. The York Property is also home to the U.S. operations of the Finance segment, as well as its corporate offices. Sotheby's financed the $370 million purchase price through an initial $50 million cash payment made in conjunction with the signing of the related purchase and sale agreement on January 11, 2008, an $85 million cash payment made when the purchase was consummated on February 6, 2009, and the assumption of a $235 million mortgage that carried an initial annual rate of interest of approximately 5.6% (the "York Property Mortgage"). The York Property Mortgage was due to mature on July 1, 2035, but had an optional pre-payment date of July 1, 2015, after which the annual rate of interest was scheduled to increase to 10.6% . On July 1, 2015, Sotheby's entered into a seven -year, $325 million mortgage loan to refinance the original York Property Mortgage. After the repayment of the original York Property Mortgage and the funding of all closing costs, reserves, and expenses, Sotheby's received net cash proceeds of approximately $98 million . The new York Property Mortgage bears interest based on the one -month LIBOR rate (the "LIBOR rate") plus a spread of 2.25% and is being amortized based on a twenty-five -year mortgage-style amortization schedule over the seven -year term of the mortgage, with the then-remaining principal balance of $268.2 million due to be paid on the July 1, 2022 maturity date. In connection with the new York Property Mortgage, Sotheby's entered into interest rate protection agreements secured by the York Property, consisting of a two -year interest rate swap effective as of July 1, 2015 and a five -year interest rate collar effective as of July 1, 2017. Both instruments have a notional amount equal to the applicable principal balance of the York Property Mortgage and have an identical amortization schedule to that of the mortgage. These interest rate protection agreements effectively hedge the LIBOR rate on the entire outstanding principal balance of the York Property Mortgage at an annual rate equal to 0.877% for the first two years, and then at an annual rate of no less than 1.917% but no more than 3.75% for the remainder of the seven -year term. After taking into account the interest rate protection agreements, the annual interest rate for the first two years of the new York Property Mortgage will be approximately 3.127% and then will be between a floor of 4.167% and a cap of 6% for the remainder of the seven-year term. See Note 18 for additional information related to the interest rate protection agreements. The loan agreement governing the new York Property Mortgage contains the following financial covenants, which are subject to additional terms and conditions as provided in the underlying loan agreement: • As of July 1, 2020, the LTV ratio may not exceed 65% (the "Maximum LTV") based on the then-outstanding principal balance of the mortgage. If the LTV ratio exceeds the Maximum LTV, Sotheby's may, at its option, post cash or a letter of credit or pay down the mortgage without any prepayment penalty or premium, in an amount that will cause the LTV ratio not to exceed the Maximum LTV. • At all times during the term of the mortgage, the Debt Yield (as defined in the loan agreement governing the mortgage) will not be less than 8.5% (the "Minimum Debt Yield"). If the Debt Yield falls below the Minimum Debt Yield, Sotheby's has the option to post cash or a letter of credit or prepay the mortgage without any prepayment penalty or premium, in an amount that will cause the Debt Yield to exceed the Minimum Debt Yield. • If Sotheby's corporate credit rating from Standard & Poor's Rating Services ("S&P") is downgraded to BB-, cash management accounts (the "Cash Management Accounts") may be established under the control of the lender for monthly debt service, insurance, and tax payments. If the rating is downgraded to B+ or B, Sotheby's may be required to deposit a certain amount of debt service into the Cash Management Accounts (estimated to be approximately 6 to 12 months of debt service). If the rating is downgraded to lower than B, Sotheby's must make principal payments on the mortgage such that the LTV ratio does not exceed 65% . On February 9, 2016, Sotheby's corporate credit rating from S&P was downgraded to "BB-" from "BB". As a result, as discussed above, at Cash Management Accounts will be established under the control of the lender for monthly debt service, insurance, and tax payments. The lender will retain any excess cash after debt service, insurance, and taxes as security (estimated to be approximately $6 million annually). • At all times during the term of the mortgage, Sotheby's is required to maintain a net worth of at least $425 million , subject to a cure period. The York Property and the related mortgage are held by 1334 York, LLC, a separate legal entity of Sotheby's that maintains its own books and records and whose results are ultimately consolidated into Sotheby's financial statements. The assets of 1334 York, LLC are not available to satisfy the obligations of other Sotheby's affiliates or any other entity. As of December 31, 2015 , the fair value of the York Property Mortgage approximates its book value due to the variable interest rate associated with the mortgage. This fair value measurement is considered to be a Level 2 fair value measurement in the fair value hierarchy as per Accounting Standards Codification 820, Fair Value Measurements ("ASC 820"). 2022 Senior Notes —On September 27, 2012, Sotheby's issued $300 million aggregate principal amount of 5.25% Senior Notes, due October 1, 2022 (the "2022 Senior Notes"). The 2022 Senior Notes were offered only to qualified institutional buyers in accordance with Rule 144A and to non-U.S. Persons under Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). Holders of the 2022 Senior Notes do not have registration rights, and the 2022 Senior Notes have not been and will not be registered under the Securities Act. The net proceeds from the issuance of the 2022 Senior Notes were approximately $300 million , after deducting fees paid to the initial purchasers, and were principally used to retire $80 million of unsecured debt that was due in June 2015 and Sotheby's 3.125% Convertible Notes, as discussed below. The 2022 Senior Notes are guaranteed, jointly and severally, on a senior unsecured basis by certain of Sotheby's existing and future domestic subsidiaries to the extent and on the same basis that such subsidiaries guarantee borrowings under the New Credit Agreement. Interest on the 2022 Senior Notes is payable semi-annually in cash on April 1 and October 1 of each year. The 2022 Senior Notes are redeemable by Sotheby's, in whole or in part, on or after October 1, 2017, at specified redemption prices set forth in the underlying indenture, plus accrued and unpaid interest to, but excluding, the redemption date. Prior to October 1, 2017, the 2022 Senior Notes are redeemable, in whole or in part, at a redemption price equal to 100% of the principal amount to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date, plus a premium equal to the greater of 1% of the principal amount of the 2022 Senior Notes and a make-whole premium (as defined in the underlying indenture). The 2022 Senior Notes are not callable by holders unless Sotheby's is in default under the terms of the underlying indenture. As of December 31, 2015 , the $300 million principal amount of 2022 Senior Notes had a fair value of approximately $276 million based on a broker quoted price derived via a pricing model using observable and unobservable inputs. As such, this fair value measurement is considered to be a Level 3 fair value measurement in the fair value hierarchy as per ASC 820. Convertible Notes —On June 17, 2008, Sotheby's issued $200 million aggregate principal amount of 3.125% Convertible Notes, due June 15, 2013 . The net proceeds from the issuance of the Convertible Notes were approximately $194.3 million , after deducting transaction costs. The Convertible Notes were payable in cash, shares of Sotheby's Common Stock, or a combination thereof, at the option of Sotheby's, based on a conversion rate, as adjusted, of 29.5920 shares of Common Stock per $1,000 principal amount of Convertible Notes, which is equivalent to a conversion price, as adjusted, of approximately $33.79 per share. On January 1, 2009, upon the adoption of Accounting Standards Codification 470-20, Debt - Debt With Conversion and Other Options , the liability and equity components of the Convertible Notes were separately accounted for in Sotheby's financial statements. The liability component was initially valued at $161.8 million using Sotheby's nonconvertible debt borrowing rate, which was estimated to be 7.75% at the date of adoption, and was accounted for as Long-Term Debt. The equity component (i.e., the embedded conversion option) was initially valued at $38.2 million ( $21 million , net of tax) and was accounted for as a component of Additional Paid-In Capital within Shareholders' Equity. The corresponding debt discount was amortized to Interest Expense over the life of the Convertible Notes using the effective interest rate method. The Convertible Notes were convertible at the option of the bondholders for a period beginning on April 1, 2011 and ending on June 30, 2011 as a result of the stock price trigger in the underlying indenture being met in the first quarter of 2011. In June 2011, Sotheby's received conversion requests resulting in a conversion obligation of $22.5 million , which consisted of $18.1 million related to principal and approximately $4.4 million related to the conversion premium. This conversion obligation was settled entirely in cash in August 2011. As a result of the cash settlement of these conversion requests, $8.2 million ( $5.4 million , net of tax) of the amount originally attributed to the embedded conversion option and initially recorded within Shareholders' Equity no longer met the conditions for equity classification. Accordingly, this amount was reclassified to Other Current Liabilities on Sotheby's June 30, 2011 balance sheet prior to settlement of the conversion obligation in August 2011. In August 2011, simultaneous with the settlement of the June 2011 conversion requests, Sotheby's received $4.4 million in cash to fund the conversion premium through its exercise of a portion of the Convertible Note Hedges, as discussed below. In the third quarter of 2011, Sotheby's recognized a $1.5 million loss representing the write-off of a proportionate amount of the unamortized discount and deferred transaction costs related to the Convertible Notes redeemed. The remaining Convertible Notes became convertible on March 15, 2013, for a period ending on the close of business on June 14, 2013, when Sotheby's became obligated to pay the conversion obligation of $197.4 million , which consisted of $181.9 million related to principal and $15.5 million related to the conversion premium. As of March 31, 2013, management evaluated the remaining amount originally attributed to the embedded conversion option and initially recorded within Shareholders' Equity and concluded that it no longer met the conditions for equity classification as a result of Sotheby's irrevocable election in the first quarter of 2013 to settle any remaining conversion obligation related to the Convertible Notes solely in cash. Accordingly, as of March 31, 2013, the $21.8 million fair value of the embedded conversion option was reclassified to Other Current Liabilities, with a corresponding reduction to Shareholders' Equity of $12 million , net of tax. In June 2013, the conversion obligation was settled entirely in cash and Sotheby's simultaneously received $15.5 million in cash to offset the conversion premium through the exercise of its Convertible Note Hedges, as discussed below. Convertible Note Hedges and Warrant Transactions —On June 11, 2008, in conjunction with the issuance of the Convertible Notes, Sotheby's entered into convertible note hedge transactions (the "Convertible Note Hedges") at a cost of $40.6 million ( $22.5 million , net of tax) that allowed Sotheby's to purchase its Common Stock from affiliates of Bank of America and Goldman Sachs & Co. (collectively, the "Counterparties") at a price equal to the conversion price of the Convertible Notes. The Convertible Note Hedges were entered into to offset the impact of any premium paid, either in cash or in shares of Sotheby's Common Stock, upon the settlement of the Convertible Notes. The Convertible Note Hedges initially met the conditions for equity classification and, as a result, in June 2008, the related $40.6 million ( $22.5 million , net of tax) was recorded on Sotheby's balance sheet as a component of Additional Paid-In Capital within Shareholders' Equity. As previously discussed in this footnote, in June 2011, Sotheby's received conversion requests totaling a principal amount of $18.1 million from holders of the Convertible Notes. As a result, in June 2011, Sotheby's exercised the portion of the Convertible Note Hedges related to these conversion requests, which enabled it to receive $4.4 million in cash, which was equal to the amount of the conversion premium paid upon settlement of the conversion obligation in August 2011. As a result of the cash settlement of this portion of the Convertible Note Hedges, $8.2 million ( $5.3 million , net of tax) of the amount originally recorded in Shareholders' Equity no longer met the conditions for equity classification as of June 30, 2011. Accordingly, this amount was reclassified to Other Current Assets on Sotheby's June 30, 2011 balance sheet prior to settlement of the conversion obligation in August 2011. As of March 31, 2013, management evaluated the Convertible Note Hedges and concluded that the remaining amount in Shareholders' Equity no longer met the conditions for equity classification as a result of Sotheby's irrevocable election in the first quarter of 2013 to settle the remaining Convertible Note Hedges solely in cash. Accordingly, as of March 31, 2013, the $21.8 million fair value of the remaining Convertible Note Hedges was reclassified to Other Current Assets, with a corresponding increase to Shareholders' Equity of $12 million , net of tax. In June 2013, Sotheby's settled the remaining conversion obligation related to the Convertible Notes entirely in cash. As a result, the Convertible Note Hedges were exercised, and Sotheby's received $15.5 million in cash to offset the conversion premium related to the Convertible Notes. On June 11, 2008, Sotheby's also entered into warrant transactions, whereby it sold to the Counterparties warrants (the "Warrants") to acquire, subject to customary anti-dilution adjustments, approximately 5.9 million shares of Sotheby's Common Stock at a price of approximately $44.50 per share, as adjusted. The net proceeds received by Sotheby's in June 2008 from the sale of the Warrants was $22.3 million and was recorded as a component of Additional Paid-In Capital within Shareholders' Equity. The warrants were automatically exercisable subject to a limit of approximately 118,348 warrants per day for each day in the 50 trading days that began on September 17, 2013 and ended on November 25, 2013. The settlement of warrant exercises resulted in the issuance of 722,288 shares of Sotheby's Common Stock in the fourth quarter of 2013. Future Principal and Interest Payments —The aggregate future principal and interest payments due under the York Property Mortgage, the 2022 Senior Notes, and Sotheby's revolving credit facility during the five year period after the December 31, 2015 balance sheet date are as follows (in thousands of dollars): Year Amount 2016 $ 33,186 2017 $ 34,925 2018 $ 36,587 2019 $ 36,598 2020 $ 578,108 In consideration of the interest rate protection agreements relating to the York Property Mortgage, the table above assumes that the annual interest rate for the first two years of the mortgage will be approximately 3.127% , and then will be at the interest rate collar's floor rate of 4.167% for the remainder of the seven-year term. Interest Expense —For the years ended December 31, 2015 , 2014 , and 2013 , Interest Expense consisted of the following (in thousands of dollars): December 31, 2015 2014 2013 Agency Segment Credit Facility: Amendment and arrangement fees $ 1,167 $ 1,096 $ 1,279 Commitment fees 1,585 1,144 1,532 Sub-total 2,752 2,240 2,811 York Property Mortgage 13,537 16,335 16,512 2022 Senior Notes 16,394 16,394 16,394 Convertible Notes — — 6,894 Other interest expense 62 220 101 Total Interest Expense $ 32,745 $ 35,189 $ 42,712 In the table above, Interest Expense related to the York Property Mortgage, the 2022 Senior Notes, and the Convertible Notes includes the amortization of debt issuance costs and, when applicable, the amortization of discount. For the year ended December 31, 2013 , Interest Expense related to the Convertible Notes consisted of the following (in thousands of dollars): 2013 Contractual coupon interest expense $ 2,621 Discount amortization 3,796 Debt issuance cost amortization 477 Total $ 6,894 Interest Paid —In 2015 , 2014 , and 2013 , interest paid totaled $53.5 million , $42.4 million , and $33.2 million , respectively. Interest paid in 2015 and 2014 includes $36 million and $31.2 million , respectively, attributable to the Agency segment, which primarily relates to the York Property Mortgage (including $7.1 million of amounts paid to refinance the mortgage in July 2015), Sotheby's long-term debt securities, and revolving credit facility fees. Interest paid in 2015 and 2014 includes $17.5 million and $11.2 million , respectively, attributable to the Finance segment, which relates to revolving credit facility borrowings and fees.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the years ended December 31, 2015 , 2014 , and 2013 , the significant components of income tax expense consisted of the following (in thousands of dollars): December 31, 2015 2014 2013 Income before taxes: Domestic $ 11,414 $ 21,976 $ 45,093 Foreign 157,885 171,045 140,600 Total $ 169,299 $ 193,021 $ 185,693 Income tax expense—current: Domestic $ 10,455 $ 22,220 $ 8,131 State and local 5,958 6,946 8,301 Foreign 33,043 37,762 29,602 Sub-total 49,456 66,928 46,034 Income tax expense (benefit)—deferred: Domestic 69,835 5,406 2,543 State and local 6,378 6,314 (241 ) Foreign 5,476 (2,887 ) 7,366 Sub-total 81,689 8,833 9,668 Total $ 131,145 $ 75,761 $ 55,702 As of December 31, 2015 and 2014 , the components of Deferred Tax Assets and Deferred Tax Liabilities consisted of the following (in thousands of dollars): December 31, 2015 2014 Deferred Tax Assets: Asset provisions and liabilities $ 13,720 $ 10,452 Inventory writedowns 10,621 8,756 Tax loss and credit carryforwards 2,887 2,748 Difference between book and tax basis of depreciable and amortizable assets 17,857 18,737 Share-based payments and deferred compensation 34,165 36,494 Sub-total 79,250 77,187 Valuation allowance (2,437 ) (2,224 ) Total deferred tax assets 76,813 74,963 Deferred Tax Liabilities: Difference between book and tax basis of other assets and liabilities 2,361 3,323 Pension obligations 11,231 3,921 Basis differences in equity method investments 3,805 3,884 Undistributed earnings of foreign subsidiaries 91,924 16,432 Total deferred tax liabilities 109,321 27,560 Total net deferred tax (liabilities) assets $ (32,508 ) $ 47,403 In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes , which requires entities to present deferred tax assets and liabilities as non-current in a classified balance sheet, instead of separating into current and non-current amounts. ASU 2015-17 is effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods, on a prospective or retrospective basis. Early adoption is permitted for all companies in any interim or annual period. Sotheby's early adopted ASU 2015-17 as of December 31, 2015 on a prospective basis. Accordingly, prior period information has not been adjusted to reflect the new presentation of deferred tax assets and liabilities. As of December 31, 2015, Sotheby's had deferred tax assets related to various foreign and state loss and tax credit carryforwards totaling $2.9 million that begin to expire in 2020. As of December 31, 2015 and 2014, Sotheby's had provided valuation allowances of $2.4 million and $2.2 million , respectively, relating to net operating loss carryforwards. The net increase in the valuation allowance in 2015 is due to an increase in losses in certain jurisdictions, partially offset by a decrease in the valuation allowance due to changes in foreign exchange rates. For the years ended December 31, 2015 , 2014 , and 2013 , the effective income tax rate varied from the statutory tax rate as follows: 2015 2014 2013 Statutory federal income tax rate 35.0 % 35.0 % 35.0 % State and local taxes, net of federal tax benefit 2.3 % 2.5 % 2.8 % Foreign taxes at rates different from U.S. rates (14.9 %) (13.5 %) (11.1 %) Tax effect of undistributed earnings of foreign subsidiaries 48.2 % 9.6 % 11.0 % Deemed income from foreign subsidiaries, net 2.3 % 3.0 % 2.2 % Valuation allowance 0.3 % (0.2 %) (4.5 %) Effect of enacted tax legislation 2.5 % 2.0 % 0.1 % Worthless stock deduction 0.0 % 0.0 % (3.7 %) Other 1.8 % 0.8 % (1.8 %) Effective income tax rate 77.5 % 39.2 % 30.0 % The comparison of the effective income tax rate between periods is significantly influenced by the level and mix of earnings and losses by taxing jurisdiction, foreign tax rate differentials, the relative impact of permanent book to tax differences (e.g., non-deductible expenses) on pre-tax results by taxing jurisdiction, new tax legislation, and changes in valuation allowances and tax reserves. Sotheby's effective income tax rate was 77.5% in 2015 , compared to 39.2% in 2014 . The increase in the effective income tax rate is primarily due to income tax expense of $65.7 million recorded in the fourth quarter of 2015 to recognize a deferred tax liability for incremental taxes associated with accumulated foreign earnings relating to years prior to 2014 that are no longer deemed to be indefinitely reinvested outside of the U.S. (see “Repatriation of Foreign Earnings” below). In 2015 and 2014, income tax expense of approximately $14.2 million and $18.6 million , respectively, was recorded to recognize deferred tax liabilities for incremental taxes associated with Sotheby’s foreign earnings in those years that were deemed to not be indefinitely reinvested outside of the U.S. The effective income tax rate for the current year also includes income tax expense of approximately $4 million to write-down certain deferred tax assets as a result of New York City tax legislation enacted in April 2015. The legislation reduced the amount of Sotheby’s taxable income apportioned to New York City, thereby reducing Sotheby’s state and local effective income tax rate. This income tax expense was recorded discretely in the second quarter of 2015 and reduced the value of certain deferred tax assets to the amount that will be recognized in the future as a result of the reduction of the New York City effective income tax rate. The effective income tax rate for 2014 included income tax expense of approximately $3.9 million related to the write-down of certain deferred tax assets as a result of the New York State 2014-2015 Budget Act that was enacted in 2014. In 2014, the effective income tax rate increased as compared to 2013 due to the effect of the New York State 2014-2015 Budget Act and two tax benefits that were recorded in 2013 for which there were no comparable benefits in 2014. In 2013, a $10 million income tax benefit was recorded to reverse a valuation allowance recorded against foreign tax credits which management determined were more likely than not to be realized as a result of a repatriation of earnings from Sotheby’s foreign subsidiaries that were previously considered to be indefinitely reinvested. In 2013, a $6.8 million income tax benefit was recorded, net of a related liability for uncertain tax benefits, for a worthless stock deduction Sotheby’s claimed on its 2013 U.S. federal income tax return related to the tax basis of a foreign subsidiary. Also in 2013, net income tax expense of $8.7 million was recorded as a result of management's decision to repatriate $250 million of accumulated foreign earnings related to periods prior to 2014 to help fund a $300 million special dividend that was paid to shareholders in the first quarter of 2014. Repatriation of Foreign Earnings —In prior periods, based on Sotheby’s projections and planned uses of U.S. and foreign earnings, management had intended that approximately $400 million of accumulated foreign earnings relating to years prior to 2014 would be indefinitely reinvested outside of the U.S. As a result, Sotheby’s did not record deferred income taxes on these earnings in its financial statements. Due to the resignation of William F. Ruprecht as Sotheby’s President and Chief Executive Officer in November 2014 and the subsequent hiring of Thomas S. Smith, Jr. as his replacement in March 2015, and the resulting reevaluation of the Company's strategic priorities, the Board of Directors and management reassessed Sotheby’s U.S. and foreign cash needs in the fourth quarter of 2015. As a result of this reassessment and in consideration of the recent expansion of Sotheby's Common Stock repurchase program (see Note 11), as well as the need for cash in the U.S. to fund other corporate strategic initiatives, in the fourth quarter of 2015, it became apparent that these foreign earnings will instead be repatriated to the U.S. in the foreseeable future. Consequently, in the fourth quarter of 2015, Sotheby's recognized a non-cash income tax charge of $65.7 million (net of foreign tax credits) for the deferred income taxes on these foreign earnings. The specific timing of the repatriation of these foreign earnings and cash payment of the associated taxes is currently being evaluated. Total net income tax payments during 2015 , 2014 , and 2013 were $53.9 million , $60.3 million , and $36.2 million , respectively.

Uncertain Tax Positions

Uncertain Tax Positions	12 Months Ended
	Dec. 31, 2015
Income Tax Uncertainties [Abstract]
Uncertain Tax Positions	Uncertain Tax Positions As of December 31, 2015 , 2014 , and 2013 , the liability for unrecognized tax benefits, excluding interest and penalties, was $22 million , $22.8 million , and $25.4 million , respectively, and is recorded within long-term Accrued Income Taxes on the Consolidated Balance Sheets. As of December 31, 2015 and 2014 , the total amount of unrecognized tax benefits that, if recognized, would favorably affect Sotheby's effective income tax rate was $12.8 million and $12.3 million , respectively. The table below presents a reconciliation of the beginning and ending balances of the liability for unrecognized tax benefits, excluding interest and penalties, for the years ended December 31, 2015 , 2014 , and 2013 (in thousands of dollars): 2015 2014 2013 Balance at January 1 $ 22,798 $ 25,423 $ 35,400 Increases in unrecognized tax benefits related to the current year 2,917 2,229 8,999 Increases in unrecognized tax benefits related to prior years 2,276 167 9 Decreases in unrecognized tax benefits related to prior years (1,973 ) (134 ) (16,651 ) Decreases in unrecognized tax benefits related to settlements (437 ) (590 ) (555 ) Decreases in unrecognized tax benefits due to the lapse of the applicable statute of limitations (3,539 ) (4,297 ) (1,779 ) Balance at December 31 $ 22,042 $ 22,798 $ 25,423 In 2015 and 2014, the net decreases to the liability for unrecognized tax benefits are primarily attributable to the expiration of the statute of limitations for certain tax years, the closing of tax audits in the current year, and the settlement of an audit in the prior year, partially offset by the accrual of tax reserves related to transfer pricing and other U.S. federal and state and foreign matters. In 2013, the net decrease to the liability for unrecognized tax benefits is primarily attributable to the settlement of an audit and the expiration of the statute of limitations for certain tax years. The decrease is partially offset by a liability recognized for a portion of a tax benefit recorded during the year related to a worthless stock deduction Sotheby’s claimed on its 2013 U.S. federal income tax return related to the tax basis of a foreign subsidiary. Sotheby's recognizes interest expense and penalties related to unrecognized tax benefits as a component of income tax expense in the Consolidated Income Statements. During 2015 , 2014 , and 2013 , Sotheby's recognized a net benefit of $38 thousand , a net expense of $0.2 million , and a net benefit of $0.2 million , respectively, for interest expense and penalties related to unrecognized tax benefits. As of December 31, 2015 , 2014 , and 2013 , the liability for tax-related interest and penalties included on the Consolidated Balance Sheets was $1.8 million , $1.8 million , and $1.6 million , respectively. The net decrease in 2015 is primarily attributable to the closing of certain tax audits, partially offset by the accrual of tax reserves related to transfer pricing. The net increase in 2014 is due primarily to the accrual of additional interest, partially offset by the reversal of the interest accrued on unrecognized tax benefits that were recognized during the year. Sotheby’s is subject to taxation in the U.S. and various state and foreign jurisdictions and, as a result, is subject to ongoing tax audits in various jurisdictions. Sotheby’s is currently under examination by various U.S. state and foreign taxing authorities. The earliest open tax year for the major jurisdictions in which Sotheby’s does business, which includes the U.S. (including various state and local jurisdictions), the U.K., and Hong Kong, is 2007. Management believes it is reasonably possible that a decrease of $5.1 million in the balance of unrecognized tax benefits can occur within 12 months of the December 31, 2015 balance sheet date primarily as a result of the expiration of statutes of limitation and the expected settlements of ongoing tax audits.

Lease Commitments

Lease Commitments	12 Months Ended
	Dec. 31, 2015
Leases, Operating [Abstract]
Lease Commitments	Lease Commitments Sotheby's conducts business on premises leased in various locations under long-term operating leases expiring at various dates through 2060. In 2015 , 2014 , and 2013 , net rental expense under Sotheby's operating leases was $17.5 million , $18.2 million , and $17.8 million , respectively, which was recorded in General and Administrative Expenses in the Consolidated Income Statements. Future minimum lease payments due under non-cancellable operating leases in effect at December 31, 2015 were as follows (in thousands of dollars): 2016 $ 17,288 2017 13,730 2018 6,718 2019 5,983 2020 5,539 Thereafter 34,705 Total future minimum lease payments $ 83,963 The future minimum lease payments in the table above exclude future minimum sublease rental receipts of $1.9 million owed to Sotheby's under noncancellable subleases. In addition to the operating lease payments in the table above, under the terms of certain leases, Sotheby's is required to pay real estate taxes and utility costs and may be subject to escalations in the amount of future minimum lease payments based on certain contractual provisions.

Shareholders' Equity and Divide

Shareholders' Equity and Dividends	12 Months Ended
	Dec. 31, 2015
Shareholders' Equity and Dividends [Abstract]
Shareholders' Equity and Dividends	Shareholders' Equity and Dividends Common Stock —The principal U.S. market for Sotheby's Common Stock is the New York Stock Exchange (the "NYSE") (Symbol: BID). Each share of Sotheby's Common Stock has a par value of $0.01 per share and is entitled to one vote. Preferred Stock —Sotheby's has the authority to issue 50 million shares of no par value preferred stock. No shares of preferred stock were outstanding as of December 31, 2015 , 2014 , and 2013 . Quarterly Cash Dividends —The following table summarizes regular quarterly cash dividends declared and paid during the years ended December 31, 2015 , 2014 , and 2013 (in thousands of dollars, except per share amounts): Year Dividends Per Common Share Total Dividends 2015 $ 0.40 $ 27,107 2014 $ 0.40 $ 27,636 2013 $ 0.20 $ 13,754 In December 2012, the Board of Directors declared and Sotheby's paid accelerated first and second quarter of 2013 cash dividends of $13.6 million ( $0.20 per common share). These accelerated dividends were paid in lieu of quarterly dividends that would have otherwise been declared and paid in the first and second quarters of 2013. On January 21, 2016, in light of management's recent capital allocation analysis, the Board of Directors decided to eliminate Sotheby's $0.10 per share quarterly cash dividend and allocate the capital instead to repurchase shares of Common Stock, as discussed in more detail below under "Common Stock Repurchase Program." Special Dividend —In January 2014, the Board of Directors declared a special dividend of $300 million ( $4.34 per share) that was paid on March 17, 2014. The special dividend was funded principally by the repatriation of $250 million of cash from Sotheby's foreign subsidiaries, with the remaining $50 million funded by then existing domestic cash balances (see Note 8). In conjunction with this special dividend, dividend equivalents of approximately $11 million were accrued on share-based payments to Sotheby's employees and charged against retained earnings. Through December 31, 2015, approximately $5.8 million of such dividends has been paid to employees, with $2 million being paid in March 2015 and $3.8 million being paid in March 2014. Common Stock Repurchase Program —In January 2014, the Board of Directors authorized a 5 -year, $150 million Common Stock repurchase program. In March 2014, Sotheby's repurchased 558,171 shares of its Common Stock for an aggregate purchase price of $25 million ( $44.79 per share) pursuant to an accelerated stock repurchase ("ASR") agreement. On August 6, 2015, the Board of Directors approved an increase of $125 million to Sotheby's share repurchase authorization, which resulted in a total share repurchase authorization of $250 million as of that date. On August 13, 2015, Sotheby's entered into an ASR agreement (the "August 2015 ASR Agreement") pursuant to which it received an initial delivery of 2,667,378 shares of its Common Stock for an initial purchase price of $125 million . The initial shares received by Sotheby's on August 13, 2015 had a value of $100 million , or $37.49 per share. In November 2015, the counterparty to the August 2015 ASR Agreement elected to conclude the agreement, and Sotheby's received an additional 1,038,280 shares of its Common Stock. Accordingly, the August 2015 ASR Agreement resulted in the total repurchase of 3,705,658 shares of Sotheby's Common Stock for an average price of $33.73 per share. On January 21, 2016, in light of management's recent capital allocation analysis, the Board of Directors approved a $200 million increase to Sotheby's remaining $125 million share repurchase authorization, resulting in an updated total share repurchase authorization of $325 million . Through February 25, 2016, Sotheby's has repurchased 3,998,381 shares of its Common Stock for $90.9 million at an average price of $22.74 per share under this authorization through open market purchases. Management expects to continue to repurchase shares of Common Stock under this authorization through additional open market purchases and/or accelerated share repurchase agreements, subject to the factors described in the following paragraph. The timing of share repurchases and the actual amount purchased will depend on a variety of factors including the market price of Sotheby's Common Stock, general market and economic conditions, and other corporate considerations. Repurchases may be made pursuant to plans intended to comply with Rule 10b5-1 under the Exchange Act, which could allow Sotheby's to purchase its shares during periods when it otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods. The repurchase authorization does not require the purchase of a specific number of shares and is subject to suspension or termination by the Board of Directors at any time.

Share-Based Payments

Share-Based Payments	12 Months Ended
	Dec. 31, 2015
Dividends, Share-based Compensation [Abstract]
Share-Based Payments	Share-Based Payments Share-Based Payments —Share-based payments to employees include performance-based stock unit awards, market-based stock unit awards, restricted stock units, restricted stock shares, and stock options. A description of each of these share-based payments is provided below. For the years ended December 31, 2015 , 2014 , and 2013 , compensation expense related to share-based payments was reflected in the following accounts in the Consolidated Income Statements (in thousands of dollars): 2015 2014 2013 Salaries and related costs $ 28,632 $ 23,470 $ 22,350 Voluntary separation incentive programs (see Note 19) 3,068 — — CEO separation and transition costs (see Note 20) 2,000 3,591 — Total share-based payment expense (pre-tax) $ 33,700 $ 27,061 $ 22,350 Total share-based payment expense (after-tax) $ 22,992 $ 17,683 $ 15,299 In 2015 , 2014 , and 2013 , Sotheby's realized $1.1 million , $3.6 million , and $3.5 million , respectively, of excess tax benefits related to share-based payment arrangements. These tax benefits represent the amount by which the tax deduction resulting from the exercise or vesting of share-based payments exceeded the tax benefit initially recognized in Sotheby's financial statements upon the amortization of compensation expense for these awards. Such excess tax benefits are recognized in the Consolidated Balance Sheets as an increase to Additional Paid-in Capital and are classified within Financing Activities in the Consolidated Statements of Cash Flows. As of December 31, 2015 , unrecognized compensation expense related to the unvested portion of share-based payments was $26.3 million . This compensation expense is expected to be amortized over a weighted-average period of approximately 2.4 years. Sotheby's does not capitalize any compensation expense related to share-based payments to employees. Sotheby's Restricted Stock Unit Plan —Sotheby's Second Amended and Restated Restricted Stock Unit Plan (the "Restricted Stock Unit Plan") provides for the issuance of Restricted Stock Units ("RSU's") to employees, subject to the approval of the Compensation Committee of the Board of Directors (the "Compensation Committee"). In making awards under the Restricted Stock Unit Plan, the Compensation Committee takes into account the nature of the services rendered by employees, their present and potential future contributions to Sotheby's success, and such other factors as the Compensation Committee in its discretion deems relevant. RSU's issued under the Restricted Stock Unit Plan generally vest evenly over a three -year service period. Prior to vesting, holders of RSU's do not have voting rights, but are entitled to receive dividend equivalents if, when, and at the same rate as dividends are paid on Sotheby's Common Stock. Dividend equivalents paid to holders of unvested RSU's are not forfeitable. RSU's may not be sold, assigned, transferred, pledged or otherwise encumbered until they vest. Performance Share Units (or "PSU's") are RSU's that are generally earned over three or four years, subject to the achievement of certain profitability targets (for awards granted prior to 2016) or certain return on invested capital targets (for awards granted in February 2016). Prior to being earned, holders of PSU's do not have voting rights and are not entitled to receive dividends or dividend equivalents. Dividend equivalents are generally credited to holders of PSU's if, when, and at the same rate as dividends are paid on Sotheby's Common Stock, but are only paid for PSU's that vest and become shares of Common Stock. PSU's may not be sold, assigned, transferred, pledged, or otherwise encumbered until they vest. As discussed in more detail below, in the first quarter of 2015, Sotheby's awarded Thomas S. Smith, Jr. 94,140 PSU's under the Restricted Stock Unit Plan upon the commencement of his employment as Sotheby's President and CEO. These PSU's have a single vesting opportunity after a five -year service period contingent upon the achievement of pre-determined levels of Sotheby's stock price appreciation. These PSU's do not have any voting or dividend equivalent rights. In addition, as discussed in more detail below under "CEO Share-Based Payment Awards," in the first quarter of 2015, Sotheby's also granted to Mr. Smith 158,638 restricted stock shares and 47,070 fully-vested RSU's outside of the Restricted Stock Unit Plan. For the year ended December 31, 2015 , in addition to the PSU's granted to Mr. Smith, Sotheby's issued share-based payment awards under the Restricted Stock Unit Plan with a total grant date fair value of $29.3 million , as follows: • 384,664 PSU's with a grant date fair value of $16.9 million and a single vesting opportunity after a three -year service period, including: ◦ 304,882 PSU's with a grant date fair value of $13.4 million , and ◦ 79,782 PSU's with a grant date fair value of $3.5 million issued to William F. Ruprecht, Sotheby's former President and CEO. In accordance with the terms of his amended employment agreement, upon the termination of his employment on March 31, 2015, Mr. Ruprecht forfeited 60,109 PSU's from this award. Accordingly, Mr. Ruprecht ultimately retained 19,673 PSU's with a fair value of $0.9 million . • 289,065 RSU's with annual vesting over a three -year service period and a grant date fair value of $12.4 million . CEO Share-Based Payment Awards —In the first quarter of 2015, share-based payment awards with a grant date fair value of $16.5 million were granted to Thomas S. Smith, Jr. upon the commencement of his employment as Sotheby's President and CEO on March 31, 2015. These awards consist of the following: • An inducement award of 158,638 shares of restricted stock with a grant date fair value of $6.5 million , with periodic vesting opportunities between March 4, 2016 and September 1, 2017, which substantially correspond to the times when forfeited opportunities at Mr. Smith's previous employer would otherwise have become eligible to vest. These restricted stock shares were not issued pursuant to the Restricted Stock Unit Plan and have not been registered with the Securities and Exchange Commission. These shares have voting rights and a non-forfeitable right to dividends. • An inducement award of 47,070 fully-vested RSU's with a grant date fair value of $2 million aw arded to Mr. Smith to compensate him for a portion of the annual bonus that he would have received from his previous employer. The Common Stock shares associated with this award will be distributed in three approximately equal installments on the third, fourth, and fifth anniversaries of the grant date. These RSU's were not issued pursuant to the Restricted Stock Unit Plan and have not been registered with the Securities and Exchange Commission. These RSU's will be credited with dividend equivalents in the form of additional RSU's if, when, and at the same rate as dividends are paid on Sotheby's Common Stock. • An award of 94,140 PSU's under the Restricted Stock Unit Plan with a grant date fair value of $8 million and with a single vesting opportunity after a five -year service period contingent upon the achievement of pre-determined levels of Sotheby's stock price appreciation. This award provides opportunities to vest in incremental PSU's up to 350% of the initial award, such that the maximum number of shares that may be payable with respect to this award is 329,490 shares. These PSU's do not have a right to earn dividend equivalents. Subsequent Event: February 2016 Share-Based Payment Awards —On February 9, 2016, Sotheby's Compensation Committee approved share-based payment awards with a total grant date fair value of $22.5 million , as follows: • 604,297 PSU's with a grant date fair value of $14.2 million and a single vesting opportunity after a three -year service period, consisting of 123,352 PSU's with a grant date fair value of $2.9 million to Sotheby's CEO, Thomas S. Smith, Jr., and 480,945 PSU's with a grant date fair value of $11.3 million to other officers of Sotheby's. These PSU awards provide opportunities to vest in incremental PSU's of up to 200% of the initial awards subject to the achievement of certain return on invested capital targets. The maximum number of shares of Common Stock that may be payable with respect to these awards is 1,208,594 . • 352,914 RSU's with annual vesting over a three -year service period and a grant date fair value of $8.3 million . Summary of Outstanding Share-Based Payment Awards —For the year ended December 31, 2015 , changes to the number of outstanding RSU's, PSU's, and Restricted Stock were as follows (shares in thousands): Restricted Weighted Average Grant Date Fair Value Outstanding at January 1, 2015 1,806 $ 40.32 Granted 973 $ 47.02 Vested (549 ) $ 39.31 Canceled (211 ) $ 41.63 Outstanding at December 31, 2015 2,019 $ 43.61 As of December 31, 2015 , 3.2 million shares were available for future awards pursuant to the Restricted Stock Unit Plan. The aggregate fair value of RSU's and PSU's that vested during 2015 , 2014 , and 2013 was $22.9 million , $28.1 million , and $26.9 million , respectively, based on the closing stock price on the dates the shares vested. Stock Options —Stock options issued pursuant to the Sotheby's 1997 Stock Option Plan are exercisable into authorized but unissued shares of Common Stock. Stock options vest evenly over four years and generally expire 10 years after the date of grant. As of December 31, 2015 , 104,100 shares of Common Stock were available for the issuance of stock options under the Stock Option Plan. As of December 31, 2015 , 50,000 stock options were outstanding and exercisable with a weighted average exercise price of $22.11 per share, a weighted average remaining contractual term of 4.1 years , and an aggregate intrinsic value of $0.2 million . No stock options were exercised or granted during 2015. The aggregate intrinsic value of options exercised during 2014 and 2013 was $1.2 million and $3.5 million , respectively. Cash received from stock options that were exercised during 2014 and 2013 totaled $1 million and $4 million , respectively. In 2014 and 2013 , the related excess tax benefit realized from the exercise of stock options was $0.3 million and $0.7 million , respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2015
Other Comprehensive Income (Loss) [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following is a summary of the changes in Accumulated Other Comprehensive Loss during the period January 1, 2013 to December 31, 2015 (in thousands of dollars): Foreign Currency Items Defined Benefit Pension Items Derivative Financial Instruments Total Balance at January 1, 2013 $ (16,084 ) $ (34,291 ) $ — $ (50,375 ) Other comprehensive income (loss) before reclassifications 14,732 (858 ) — 13,874 Net unrecognized loss — (4,065 ) — (4,065 ) Amounts reclassified from accumulated other comprehensive loss — 1,113 — 1,113 Net other comprehensive income (loss) 14,732 (3,810 ) — 10,922 Balance at December 31, 2013 (1,352 ) (38,101 ) — (39,453 ) Other comprehensive (loss) income before reclassifications (33,929 ) 2,468 — (31,461 ) Net unrecognized loss — (9,787 ) — (9,787 ) Amounts reclassified from accumulated other comprehensive loss 2,058 1,877 — 3,935 Net other comprehensive loss (31,871 ) (5,442 ) — (37,313 ) Balance at December 31, 2014 (33,223 ) (43,543 ) — (76,766 ) Other comprehensive (loss) income before reclassifications (18,951 ) 1,097 (4,994 ) (22,848 ) Net unrecognized gain — 29,363 — 29,363 Amounts reclassified from accumulated other comprehensive loss (105 ) 3,464 688 4,047 Net other comprehensive (loss) income (19,056 ) 33,924 (4,306 ) 10,562 Balance at December 31, 2015 $ (52,279 ) $ (9,619 ) $ (4,306 ) $ (66,204 ) In 2015 , 2014 , and 2013, included in Other Comprehensive Income (Loss) before reclassifications are $1.1 million , $2.5 million , and ($0.9) million , respectively, related to changes in the foreign currency translation adjustment account associated with accumulated unrealized losses related to the U.K. Pension Plan. In 2015 , 2014 , and 2013, $3.5 million , $1.9 million , and $1.1 million (each net of tax), respectively, were reclassified from Accumulated Other Comprehensive Loss and recognized on a pre-tax basis within Salaries and Related Costs in the Consolidated Income Statements as a result of the amortization of actuarial losses related to Sotheby's defined benefit pension plan in the U.K. In 2015 and 2014, ($0.1) million and $2.1 million , respectively, were reclassified from Accumulated Other Comprehensive Loss to Other (Expense) Income in the Consolidated Income Statements as a result of the cumulative translation adjustment that was recognized upon the liquidation of foreign subsidiaries.

Commitments And Contingencies

Commitments And Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Compensation Arrangements —As of December 31, 2015 , Sotheby's had employment arrangements with certain senior employees, which expire at various points between February 29, 2016 and March 31, 2020. Such arrangements may provide, among other benefits, for minimum salary levels and for compensation under Sotheby's incentive compensation programs that are payable only if specified Company and individual goals are attained. Additionally, under certain circumstances, certain of these arrangements provide annual share-based payments, severance payments, and other cash compensation. The aggregate remaining commitment for salaries and other cash compensation related to these compensation arrangements, excluding any participation in Sotheby's incentive compensation programs, was approximately $14.5 million as of December 31, 2015 . Legal Actions —Sotheby's becomes involved in various claims and lawsuits incidental to the ordinary course of its business, including the matters described below. Management is required to assess the likelihood of any adverse judgments or outcomes in these matters, as well as potential ranges of probable or reasonably possible losses. A determination of the amount of losses, if any, to be recorded or disclosed as a result of these contingencies is based on a careful analysis of each individual exposure with, in some cases, the assistance of outside legal counsel. The amount of losses recorded or disclosed for such contingencies may change in the future due to new developments in each matter or a change in settlement strategy. Management does not believe that the outcome of any of these pending claims or proceedings, individually and in the aggregate, will have a material adverse effect on Sotheby's consolidated results of operations, financial condition and/or cash flows. Estate of Robert Graham, et al. v. Sotheby's, Inc. is a purported class action commenced in the U.S. District Court for the Central District of California in October 2011 on behalf of U.S. artists (and their estates) whose artworks were sold by Sotheby's in the State of California or at auction by California sellers and for which a royalty was allegedly due under the California Resale Royalties Act (the "Resale Royalties Act"). Plaintiffs seek unspecified damages, punitive damages and injunctive relief for alleged violations of the Resale Royalties Act and the California Unfair Competition Law. In January 2012, Sotheby's filed a motion to dismiss the action on the grounds, among others, that the Resale Royalties Act violates the U.S. Constitution and is preempted by the U.S. Copyright Act of 1976. In February 2012, the plaintiffs filed their response to Sotheby's motion to dismiss. The court heard oral arguments on the motion to dismiss on March 12, 2012. On May 17, 2012, the court issued an order dismissing the action on the ground that the Resale Royalties Act violated the Commerce Clause of the U.S. Constitution. The plaintiffs appealed this ruling. On May 5, 2015, an en banc panel of the U.S. Court of Appeals for the Ninth Circuit issued a decision affirming the lower court decision that the Resale Royalties Act was unconstitutional insofar as it sought to apply to sales outside of the state of California. The plaintiffs filed a motion for certiorari to the U.S. Supreme Court, which was denied on January 11, 2016. The plaintiffs filed a motion on February 1, 2016 seeking the dismissal of the remaining claims in the action, which relate to sales that occurred in California. See Note 4 for information related to unfunded commitments to extend additional credit through Sotheby's Finance segment. See Note 5 for information on a contingent obligation related to Sotheby's interest in an equity method investment. See Note 7 for information related to debt commitments. See Note 9 for information related to income tax contingencies. See Note 10 for information related to lease commitments. See Note 16 for information related to Sotheby's auction guarantees.

Pension Arrangements

Pension Arrangements	12 Months Ended
	Dec. 31, 2015
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Pension Arrangements	Pension Arrangements Retirement Savings Plan —Sotheby's sponsors a qualified defined contribution plan for its U.S. employees (the "Retirement Savings Plan"). Participants in the Retirement Savings Plan may elect to contribute between 2% and 50% of their eligible compensation, on a pre-tax or after-tax Roth basis. Participant savings are matched by a contribution from Sotheby's of up to 3% of eligible compensation. Sotheby's may also contribute an annual discretionary amount to the Retirement Savings Plan, which varies as a percentage of each participant's eligible compensation depending on Company profitability. In 2015 , 2014 , and 2013 , Sotheby's accrued discretionary contributions of $1.3 million , $1.3 million , and $1.2 million , respectively, related to the Retirement Savings Plan, which is equal to 2% of eligible compensation paid during those years. In 2015 , 2014 , and 2013 , total pension expense related to matching and discretionary contributions to the Retirement Savings Plan, net of forfeitures, was $2.4 million , $2.4 million , and $2.3 million , respectively. Both participant and Company contributions to the Retirement Savings Plan are subject to limitations under Internal Revenue Service ("IRS") regulations. Deferred Compensation Plan —Sotheby's sponsors the non-qualified Deferred Compensation Plan (the "DCP") which is available to certain U.S. officers for whom contributions to the Retirement Savings Plan are limited by IRS regulations. The DCP provides participants with a menu of investment crediting options which track a portfolio of various deemed investment funds. Sotheby's credits participant accounts on the same basis as matching and discretionary contributions to the Retirement Savings Plan, as discussed above. In 2015 , 2014 , and 2013 , Sotheby's recorded discretionary accruals of $0.3 million , $0.4 million , and $0.4 million , respectively, related to the DCP, which is equal to 2% of eligible compensation paid during those years. In 2015 , 2014 , and 2013 , total pension expense related to Sotheby's matching and discretionary DCP accruals was $0.8 million , $0.9 million , and $0.9 million , respectively. Employee deferrals and Sotheby's accruals to the DCP are informally funded into a rabbi trust which provides benefit security by sheltering assets in the event of a change-in-control of Sotheby's and certain other situations. DCP liabilities are financed through the trust almost entirely by using company-owned variable life insurance ("COLI"), and, to a much lesser extent, investments in money market mutual funds. As of December 31, 2015 and 2014 , the DCP liability was $39 million and $49.6 million , respectively, and the assets held in the rabbi trust consisted of the following (in thousands of dollars): December 31, 2015 2014 Company-owned variable life insurance $ 37,155 $ 45,895 Money market mutual fund investments 688 4,595 Total $ 37,843 $ 50,490 The decrease in the DCP assets and liabilities when compared to 2014 is due in large part to distributions made to employees who separated from service. The COLI and money market mutual fund investments are aggregated and recorded on the Consolidated Balance Sheets within Trust Assets Related to Deferred Compensation Liability. The COLI is reflected at its cash surrender value. The money market mutual fund investments are classified as trading securities and reflected at their fair value. Changes in the fair value of the DCP liability, which result from gains and losses in deemed participant investments, are recognized in earnings within Salaries and Related Costs in the period in which they occur. Gains in deemed participant investments increase the DCP liability, as well as Salaries and Related Costs. Losses in deemed participant investments decrease the DCP liability, as well as Salaries and Related Costs. In 2015 , 2014 , and 2013 , net (losses) gains in deemed participant investments totaled ($0.5) million , $1.9 million , and $5.1 million , respectively. Gains and losses resulting from changes in the cash surrender value of the COLI and the fair value of the money market mutual fund investments, as well as related COLI expenses, are recognized in earnings below Operating Income within Other (Expense) Income in the period in which they occur. In 2015 , 2014 , and 2013 , net (losses) gains related to the COLI and the money market mutual fund investments were ($2.7) million , $0.3 million , and $3.7 million , respectively. In 2015, Other (Expense) Income also includes a $1.6 million death benefit recognized in the fourth quarter of 2015 under the COLI policy. U.K. Defined Contribution Plan —Beginning on April 1, 2004, a defined contribution plan was made available to employees in the U.K. (the "U.K. Defined Contribution Plan"). Beginning in 2015, Sotheby's may also contribute an annual discretionary amount to the U.K. Defined Contribution Plan, which varies as a percentage of each participant's eligible compensation depending on Company profitability. In 2015 , Sotheby's accrued discretionary contributions of $0.7 million related to the U.K. Defined Contribution Plan, which is equal to 2% of eligible compensation paid during the year. In 2015 , 2014 , and 2013 , pension expense related to the U.K. Defined Contribution Plan was $3.1 million , $2.2 million , and $1.3 million , respectively. U.K. Defined Benefit Plan —Sotheby's sponsors a defined benefit pension plan in the U.K. (the "U.K. Pension Plan"). Effective April 1, 2004, participation in the U.K. Pension Plan was closed to new employees. Management is currently in consultation with active participants regarding an amendment to the U.K. Pension Plan, which would close the plan to accrual of future service costs for these employees. This consultation process is being conducted in accordance with local statutory requirements, and the resulting amendment is expected to be enacted in the first quarter of 2016. The tables below present detailed information related to the U.K. Pension Plan, including the recognition of a $17.9 million curtailment gain resulting from this expected plan amendment. Benefit Obligation, Plan Assets, and Funded Status The table below details the changes in the projected benefit obligation, plan assets, and funded status of the U.K. Pension Plan, as well as the net pension asset recognized on the Consolidated Balance Sheets, as of December 31, 2015 and 2014 (in thousands of dollars): December 31, 2015 2014 Reconciliation of benefit obligation Benefit obligation at beginning of year $ 381,935 $ 360,185 Service cost 4,497 4,499 Interest cost 12,923 15,633 Contributions by plan participants 877 1,164 Actuarial (gain) loss (27,885 ) 33,568 Curtailment gain (17,895 ) — Benefits paid (10,745 ) (11,128 ) Foreign currency exchange rate changes (17,464 ) (21,986 ) Projected benefit obligation at end of year 326,243 381,935 Reconciliation of plan assets Fair value of plan assets at beginning of year 410,928 397,469 Actual return on plan assets 9,996 44,343 Employer contributions 2,163 2,740 Contributions by plan participants 877 1,164 Benefits paid (10,745 ) (11,128 ) Foreign currency exchange rate changes (20,117 ) (23,660 ) Fair value of plan assets at end of year 393,102 410,928 Funded Status Net pension asset $ 66,859 $ 28,993 As of December 31, 2015 and 2014 , the accumulated benefit obligation for the U.K. Pension Plan was $325.8 million and $367.2 million , respectively. Components of Net Pension Cost (Benefit) For the years ended December 31, 2015 , 2014 , and 2013 , the components of the net pension cost (benefit) related to the U.K. Pension Plan were (in thousands of dollars): 2015 2014 2013 Service cost $ 4,497 $ 4,499 $ 3,682 Interest cost 12,923 15,633 13,359 Expected return on plan assets (20,174 ) (23,166 ) (19,659 ) Amortization of actuarial loss 3,967 2,346 1,458 Amortization of prior service cost 364 — — Net pension cost (benefit) $ 1,577 $ (688 ) $ (1,160 ) Net Gain (Loss) Recognized in Other Comprehensive Income (Loss) The net gain (loss) related to the U.K. Pension Plan, which is recognized net of tax in Other Comprehensive Income (Loss), is generally the result of: (i) actual results being different from previous actuarial assumptions (for example, the expected return on plan assets), (ii) changes in actuarial assumptions between balance sheet dates (for example, the discount rate), and/or (iii) curtailment gains. In 2015 and 2014 , the net gain (loss) related to the U.K. Pension Plan was $29.4 million and ($9.8) million , respectively. Net Loss Included in Accumulated Other Comprehensive Loss Net gains and (losses) related to the U.K. Pension Plan recognized in Other Comprehensive Income (Loss) are recorded net of tax in the Shareholders' Equity section of the Consolidated Balance Sheets within Accumulated Other Comprehensive Loss. If the amount recorded in Accumulated Other Comprehensive Loss exceeds 10% of the greater of (i) the market-related value of plan assets or (ii) the benefit obligation, that excess amount is amortized as a component of future net pension cost or benefit over the average expected remaining service period of active plan participants, which is approximately 12.4 years. The market-related value of plan assets adjusts the market value of plan assets by recognizing changes in fair value over a period of five years. As of December 31, 2015 and 2014 , the net loss related to the U.K. Pension Plan recorded in Accumulated Other Comprehensive Loss was ($10) million and ($44) million , respectively. Assumptions In 2015 , 2014 , and 2013 , the following assumptions were used in determining the benefit obligation and net pension cost (benefit) related to the U.K. Pension Plan: Benefit Obligation 2015 2014 Weighted average discount rate 3.7% 3.5% Weighted average rate of compensation increase —% 4.1% Net Pension Cost (Benefit) 2015 2014 2013 Weighted average discount rate 3.5% 4.4% 4.4% Weighted average rate of compensation increase 4.1% 4.6% 4.0% Weighted average expected long-term rate of return on plan assets 5.4% 6.1% 6.2% The discount rate represents the approximate weighted average rate at which the obligations of the U.K. Pension Plan could be effectively settled and is based on a yield curve for a selection of high-quality corporate bonds with maturity dates approximating the length of time remaining until individual benefit payment dates. The assumption for future annual compensation increases is determined after considering historical salary data for Sotheby's U.K. employees and management's expectations for future salary growth, as well as current economic data for inflation. The measurement of the benefit obligation as of December 31, 2015 does not include an assumption for future annual compensation increases due to the expected closure of the U.K. Pension Plan to the accrual of future service costs, as discussed above. The expected long-term rate of return is weighted according to the composition of invested assets and is based on expected future appreciation, as well as dividend and interest yields currently available in the equity and bond markets. In particular, the expected rate of return for growth assets represents management's estimate of median annualized returns by asset class. The expected rate of return on debt securities is based on interest yields currently available on long-dated U.K. government bonds and highly-rated corporate bonds. No allowance is made in the expected rate of return for potential market out-performance by fund managers. Plan Assets The investment policy for the U.K. Pension Plan is established by its Trustees in consultation with Sotheby's management. The Trustees' investment objective is to maximize the return on assets while controlling the level of risk so as to ensure that sufficient assets are available to pay participants' benefits as and when they arise. In order to avoid an undue concentration of risk, a diverse spread of assets is held within the portfolio. The diversification is both within and across asset categories. Professional investment managers are provided target allocation percentages for different categories within each asset class; actual allocation percentages are permitted to fall within a reasonable range of these targets. In setting specific asset allocation targets, the Trustees take advice as required from professional investment advisors and require that the majority of the assets be realizable at short notice. In 2014, the Trustees altered the asset allocation so that approximately 60% was allocated to growth assets and approximately 40% was allocated to debt securities and cash. In conjunction with the expected closure of the U.K. Pension Plan to the accrual of future service costs, as discussed above, and a resulting improvement in funded status, it is likely that a further change in asset allocation will be implemented in mid-2016. This change in asset allocation is intended to reduce investment risk and is expected to result in an approximate allocation of 50% to growth assets and 50% to debt securities and cash. A small holding in real estate will be retained and is not subject to this allocation methodology. The investment managers for the U.K. Pension Plan have full discretion in making investment decisions, subject to broad guidelines established by the Trustees. It is the Trustees' policy not to invest in shares of Sotheby's or any of its subsidiaries. The performance of the investment managers is benchmarked against suitable indices. The table below presents the fair value of U.K. Pension Plan assets, by investment category, as of December 31, 2015 and 2014 (in thousands of dollars): December 31, 2015 % of Total 2014 % of Total Growth assets $ 240,214 61.1 % $ 247,393 60.2 % Debt securities : Corporate 36,772 9.4 % 37,929 9.2 % Index-linked 112,049 28.5 % 120,507 29.3 % Total debt securities 148,821 37.9 % 158,436 38.6 % Real estate mutual funds 3,148 0.8 % 2,976 0.7 % Cash and cash equivalents 919 0.2 % 2,123 0.5 % Total fair value of plan assets $ 393,102 $ 410,928 The assets of the U.K. Pension Plan, which are measured at fair value, are classified and disclosed according to one of the following categories: • Level 1—Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Level 1 inputs generally provide the most reliable evidence of fair value. • Level 2—Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value may be determined through the use of models or other valuation methodologies. • Level 3—Pricing inputs are unobservable for the asset or liability and include situations where there is little, if any, market activity for the investment. The inputs into the determination of fair value require significant management judgment or estimation. The table below provides fair value measurement information for the U.K. Pension Plan assets as of December 31, 2015 (in thousands of dollars): Fair Value Measurements Using: Total Fair Value Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Growth assets $ 240,214 $ 165,891 $ 74,323 $ — Debt securities: Corporate 36,772 12,023 24,749 — Index-linked 112,049 112,049 — — Total debt securities 148,821 124,072 24,749 — Real estate mutual funds 3,148 — 3,148 — Cash and cash equivalents 919 919 — — Total fair value of plan assets $ 393,102 $ 290,882 $ 102,220 $ — As of December 31, 2015 , the following U.K. Pension Plan assets are classified as Level 1 fair value measurements: Growth Assets —Includes investments in publicly-traded mutual funds and other publicly-traded stocks, the fair values of which are based on exchange quoted prices in active markets. Debt Securities —Includes investments in publicly-traded bond mutual funds and other publicly-traded bonds, the fair values of which are based on exchange quoted prices in active markets. Cash and Cash Equivalents —Includes investments in cash and money market instruments that are highly liquid and for which book value approximates fair value. As of December 31, 2015 , the following U.K. Pension Plan assets are classified as Level 2 fair value measurements: Growth Assets —Includes investments in pooled funds which do not have directly observable quoted market prices, but for which the underlying value is determined by publicly-traded stocks that have directly observable exchange quoted prices in active markets. Debt Securities —Includes investments in pooled funds which do not have directly observable quoted market prices, but for which the underlying value is determined by publicly-traded bonds that have directly observable exchange quoted prices in active markets. Real Estate Mutual Funds —Includes investments in real estate mutual funds, the fair value of which are based on directly and indirectly observable real estate prices, including comparable prices. Estimated Future Benefit Payments Estimated future benefit payments related to the U.K. Pension Plan, which reflect expected future service, as appropriate, are as follows (in thousands of dollars): Year Benefit Payments 2016 $ 11,006 2017 $ 9,557 2018 $ 10,610 2019 $ 10,748 2020 $ 12,759 2021 to 2025 $ 69,460 Contributions In 2015 , Sotheby's contributed $2.2 million to the U.K. Pension Plan. Sotheby's currently expects to contribute approximately $1.9 million to the U.K. Pension Plan in 2016 .

Auction Guarantees

Auction Guarantees	12 Months Ended
	Dec. 31, 2015
Auction Guarantees [Abstract]
Auction Guarantees	Auction Guarantees From time-to-time in the ordinary course of its business, Sotheby's will guarantee to a consignor a minimum sale price in connection with the sale of property at auction (an "auction guarantee"). Sotheby's is generally entitled to a share of the excess proceeds (the "overage") if the property under the auction guarantee sells above the guaranteed price. In the event that the property sells for less than the guaranteed price, Sotheby's must perform under the auction guarantee by funding the difference between the sale price at auction and the amount of the auction guarantee. The amount of any such shortfall recorded in Sotheby's financial statements is reduced by any auction commissions earned on property sold under the auction guarantee. If the property does not sell, the amount of the auction guarantee must be paid, but Sotheby's takes ownership of the unsold property and may recover the amount paid through its future sale. Depending on the mix of items subject to a guarantee, in advance of peak selling seasons, a small number of guaranteed items may represent a substantial portion of the aggregate amount of outstanding auction guarantees. In situations when guaranteed property does not sell, the property is recorded as Inventory on the Consolidated Balance Sheets at the lower of cost (i.e., the amount paid under the auction guarantee) or management's estimate of the property's net realizable value (i.e., the expected sale price upon its eventual disposition). The proceeds ultimately realized by Sotheby's on the sale of previously guaranteed property may equal, exceed, or be less than the estimated net realizable value recorded as Inventory on the Consolidated Balance Sheets. Sotheby's may reduce its financial exposure under auction guarantees through contractual risk and reward sharing arrangements. Such auction guarantee risk and reward sharing arrangements include irrevocable bids and partner sharing arrangements. An irrevocable bid is an arrangement under which a counterparty commits to bid a predetermined price on the guaranteed property. If the irrevocable bid is the winning bid, the counterparty purchases the property at the predetermined price plus the applicable buyer's premium, which is the same amount that any other successful bidder would pay at that price. If the irrevocable bid is not the winning bid, the counterparty is generally entitled to receive a share of the auction commission earned on the sale and/or a share of any overage. In a partner sharing arrangement, a counterparty commits to fund: (i) a share of the difference between the sale price at auction and the amount of the auction guarantee if the property sells for less than the minimum guaranteed price or (ii) a share of the minimum guaranteed price if the property does not sell while taking ownership of a proportionate share of the unsold property. In exchange for accepting a share of the financial exposure under the auction guarantee, the counterparty in a partner sharing arrangement is generally entitled to receive a share of the auction commission earned if the property sells and/or a share of any overage. The counterparties to Sotheby's auction guarantee risk and reward sharing arrangements are typically major international art dealers or major art collectors. Sotheby's could be exposed to losses in the event any of these counterparties do not perform according to the terms of these contractual arrangements. Although irrevocable bid and partner sharing arrangements may be used to reduce the risk associated with auction guarantees, Sotheby's may also enter into auction guarantees without securing such arrangements. In these circumstances, Sotheby's could be exposed to auction guarantee losses and/or deterioration in auction commission margins if the underlying property fails to sell at the minimum guaranteed price. Furthermore, in such situations, Sotheby's liquidity could be reduced. Sotheby's credit agreement has a covenant that imposes a limitation on net outstanding auction guarantees (i.e., the aggregate financial exposure under outstanding auction guarantees less the impact of related risk and reward sharing arrangements). On September 16, 2015, the Credit Agreement was amended to temporarily increase this limit to $800 million until February 29, 2016, after which it reverts to $600 million for the duration of the Credit Agreement (see Note 7). In addition to compliance with this covenant, Sotheby's use of auction guarantees and related risk and reward sharing arrangements is also subject to management and, in some cases, Board of Directors, approval. As of December 31, 2015 , Sotheby's had outstanding auction guarantees totaling $62.1 million . Sotheby's financial exposure under these auction guarantees is reduced by irrevocable bids totaling $28.7 million . Each of these auction guarantees has a minimum guaranteed price that is within the range of the pre-sale auction estimates for the underlying property. The property related to these auction guarantees is being offered at auctions in 2016. Sotheby's is obligated under the terms of certain auction guarantees to advance all or a portion of the guaranteed amount prior to auction. As of December 31, 2015, there were no auction guarantee advances outstanding. As of December 31, 2015 and 2014, the carrying value of the liability representing the estimated fair value of Sotheby's obligation to perform under its auction guarantees totaled $1 million and $5.3 million , respectively, and is recorded within Accounts Payable and Accrued Liabilities on the Consolidated Balance Sheets. On September 2, 2015, Sotheby's entered into an arrangement with the Estate of A. Alfred Taubman (the "Estate") under which Sotheby's is selling works of art from the collection of A. Alfred Taubman (the "Taubman Collection"). Robert S. Taubman, a director of Sotheby's, is a trustee and beneficiary of the Estate. In connection with this arrangement, Sotheby's provided an auction guarantee of $509 million , which takes into account items withdrawn by the Estate prior to sale. As of December 31, 2015 , outstanding auction guarantees included $33.3 million related to this arrangement. The remaining outstanding auction guarantee attributable to the Taubman Collection as of February 24, 2016 is $3.4 million , relating to property scheduled to be offered at auction in 2016. See Note 17 for additional information related to this related party auction guarantee. As of February 24, 2016, Sotheby's had outstanding auction guarantees totaling $59.7 million . Each of the auction guarantees outstanding as of February 24, 2016 had a minimum guaranteed price that was within the range of the pre-sale auction estimates for the underlying property. The property related to these auction guarantees is being offered at auctions in the second and third quarters of 2016.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions From time-to-time, in the ordinary course of business, related parties, such as members of the Board of Directors and employees, transact with Sotheby's to buy and sell property at auction and through private sales. For the years ended December 31, 2015 , 2014 , and 2013 , Sotheby's recognized Agency Commissions and Fees of $2.7 million , $3.1 million , and $4.8 million , respectively, for property consigned or purchased by related parties. On September 2, 2015, Sotheby's entered into an arrangement with the Estate of A. Alfred Taubman under which Sotheby's is selling works of art from the collection of A. Alfred Taubman. Robert S. Taubman, a director of Sotheby's, is a trustee and beneficiary of the Estate. In connection with this arrangement, Sotheby's provided an auction guarantee of $509 million , which takes into account items withdrawn by the Estate prior to sale. Through February 24, 2016, total aggregate proceeds (i.e., the hammer price plus buyer's premium) from sales of Taubman Collection property were $470 million . The results of these sales, combined with the estimated value of items which were taken into inventory after failing to sell at auction ( $33 million ) and the estimated aggregate proceeds of the remaining property to be offered at future auctions ( $3 million ), result in a projected loss on the auction guarantee of approximately $3 million , which was recognized in the fourth quarter of 2015. Also, because the sale results will fall short of the guaranteed amount, Sotheby's will not recognize any net auction commission revenue from this consignment. As of December 31, 2015 , Sotheby's owed $285.4 million to the Estate for property offered for sale through the end of the year. As of February 24, 2016, $221.7 million of this amount was paid to the Estate. The remaining outstanding auction guarantee attributable to the Taubman Collection as of February 24, 2016 is $3.4 million , relating to property scheduled to be offered at auction in 2016.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2015
Summary of Derivative Instruments [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments Derivative Financial Instruments Designated as Cash Flow Hedges —On July 1, 2015, Sotheby's entered into a seven -year, $325 million mortgage loan to refinance the York Property Mortgage. The new York Property Mortgage bears interest based on the one -month LIBOR rate plus a spread of 2.25% and is being amortized based on a 25 -year mortgage-style amortization schedule over the seven -year term of the mortgage. In connection with the new York Property Mortgage, Sotheby's entered into interest rate protection agreements secured by the York Property, consisting of a two -year interest rate swap (the "Swap"), effective as of July 1, 2015 , and a five -year interest rate collar (the "Collar"), effective as of July 1, 2017 . Both of these instruments have a notional amount equal to the applicable principal balance of the new York Property Mortgage and have an identical amortization schedule to that of the mortgage. See Note 7 for information related to the York Property Mortgage. As of December 31, 2015 , the notional value of the Swap was equal to the $322.1 million principal balance of the new York Property Mortgage on that date, and the notional value of the Collar was $310.3 million , which is equal to the forecasted principal mortgage balance as of the Collar's effective date. These interest rate protection agreements effectively hedge the LIBOR rate on the entire outstanding principal balance of the new York Property Mortgage at an annual rate equal to 0.877% for the first two years, and then at an annual rate of no less than 1.917% , but no more than 3.75% , for the remainder of the seven -year term. After taking into account the interest rate protection agreements, the annual interest rate for the first two years of the new York Property Mortgage will be approximately 3.127% and then will be between a floor of 4.167% and a cap of 6% for the remainder of the seven -year term. At their inception, the Swap and the Collar were each individually designated as cash flow hedges of the risk associated with the variability in expected cash outflows related to the monthly one-month LIBOR-indexed interest payments on the new York Property Mortgage. Accordingly, to the extent that the Swap and the Collar are effective, any unrealized gains and losses related to changes in their fair value are recorded to Accumulated Other Comprehensive Loss on the Consolidated Balance Sheets and then reclassified to Interest Expense in the Consolidated Income Statements as interest expense related to the mortgage is recorded. Any hedge ineffectiveness is immediately recognized in Interest Expense. There was no hedge ineffectiveness related to the Swap or the Collar during the year ended December 31, 2015 . Sotheby's performs a quarterly assessment to determine whether the Swap and the Collar continue to be highly effective in hedging the risk associated with the variability in expected cash outflows related to the monthly one-month LIBOR-indexed interest payments on the new York Property Mortgage. As of December 31, 2015 , the fair value of the Swap recorded in Other Current Liabilities on the Consolidated Balance Sheets was $0.4 million . For the year ended December 31, 2015 , the loss in fair value associated with the Swap recognized in Other Comprehensive Loss was $0.8 million (net of tax) and the amount reclassified to Interest Expense during the period was $0.7 million (net of tax). As of December 31, 2015 , the fair value of the Collar recorded in Other Long-Term Liabilities on the Consolidated Balance Sheets was $6.8 million . For the year ended December 31, 2015 , the loss in fair value associated with the Collar recognized in Other Comprehensive Loss was $4.2 million (net of tax). The Swap and the Collar liabilities have been designated as Level 2 fair value measurements within the fair value hierarchy provided by ASC 820. Level 2 fair value measurements have pricing inputs other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value may be determined through the use of models or other valuation methodologies. The fair value of the Swap is based on a discounted cash flow methodology using the contractual terms of the instrument and observable LIBOR-curve rates that are consistent with the frequency of the interest cash flows of the new York Property Mortgage. The fair value of the Collar is based on an option pricing model using observable LIBOR-curve rates for each forecasted monthly settlement, with the projected cash flows discounted using the contractual terms of the instrument, which are consistent with the frequency of the interest cash flows of the new York Property Mortgage. Derivative Financial Instruments Not Designated as Hedging Instruments —Sotheby's utilizes forward exchange contracts to hedge cash flow exposures related to foreign currency exchange rate movements, which primarily arise from short-term foreign currency denominated intercompany balances and, to a much lesser extent, foreign currency denominated client payable balances, as well as foreign currency denominated auction guarantee obligations. Such forward exchange contracts are typically short-term with settlement dates less than six months from their inception. Additionally, on rare occasions, Sotheby's may purchase foreign currency option contracts to hedge risks associated with foreign currency denominated client payable balances. All instruments used to offset cash flow exposures related to foreign currency exchange rate movements are not designated as hedging instruments for accounting purposes. Accordingly, changes in the fair value of these instruments are recognized in the Income Statements in Other (Expense) Income. As of December 31, 2015 , the notional value of outstanding forward exchange contracts was $64.4 million . Notional values do not quantify risk or represent assets or liabilities of Sotheby's, but are used to calculate cash settlements under outstanding forward exchange contracts. Sotheby's is exposed to credit-related risks in the event of nonperformance by the two counterparties to its outstanding forward exchange contracts. Sotheby's does not expect either of these counterparties to fail to meet their obligations, given their high short-term (A1/P1) credit ratings. As of December 31, 2015 , the fair values of these contracts were not material to Sotheby's consolidated financial statements.

Voluntary Separation Incentive

Voluntary Separation Incentive Programs	12 Months Ended
	Dec. 31, 2015
Restructuring and Related Activities [Abstract]
Voluntary Separation Incentive Programs	Voluntary Separation Incentive Programs On November 13, 2015, Sotheby's announced a series of regional voluntary separation incentive programs (the "Programs") aimed at reducing headcount and associated compensation costs. The Programs were offered to Sotheby's employees in jurisdictions where it was practical to do so. Employees who elected to participate in the Programs were accepted only upon approval by Sotheby's management. In the fourth quarter of 2015, Sotheby's recognized a charge of $36.9 million as a result of the Programs, consisting of $33.8 million in cash severance benefits and $3.1 million in accelerated equity compensation expense related to awards that will continue to vest after termination of employment, subject to Sotheby's achievement of the underlying profitability targets, when applicable. The liability related to the $33.8 million in cash severance benefits is recorded on the December 31, 2015 Consolidated Balance Sheet within Accounts Payable and Accrued Liabilities and includes $4.7 million related to 2015 incentive compensation that would have been paid to participants had they not participated in the Programs. This liability is expected to be settled through cash payments made principally in the first half of 2016. Employee transitions under the Programs commenced on December 31, 2015 and will occur throughout 2016. Management currently expects that the Programs will result in a net reduction of approximately 5% of its global headcount of approximately 1,600 employees prior to the implementation of the Programs. Restructuring Charges (Net) On July 16, 2014, the Board of Directors approved a restructuring plan (the "2014 Restructuring Plan") principally impacting Sotheby's operations in the United States and the U.K. The 2014 Restructuring Plan resulted in net Restructuring Charges of $14.2 million recognized in 2014, consisting of $13.9 million in employee termination benefits and approximately $0.3 million in lease exit costs. In 2015, Sotheby's recognized a benefit of $1 million in Restructuring Charges (net) as a result of adjustments to the initial accrual for employee termination benefits. The headcount reductions resulting from the 2014 Restructuring Plan were completed in the third quarter of 2015 and the associated liability has been fully settled.

CEO Separation and Transition C

CEO Separation and Transition Costs	12 Months Ended
	Dec. 31, 2015
Compensation Related Costs [Abstract]
CEO Separation and Transition Costs	CEO Separation and Transition Costs CEO Separation and Transition Costs consist of compensation-related charges of $7.6 million recognized in the fourth quarter of 2014, related to the resignation of William F. Ruprecht as Sotheby's President and Chief Executive Officer, and charges of $4.2 million recognized in the first quarter of 2015, associated with the subsequent hiring of Thomas S. Smith, Jr. as his replacement. The charges recognized in the fourth quarter of 2014 consist of the accrual of a $4 million cash severance benefit and $3.6 million in accelerated equity compensation expense triggered by the terms of Mr. Ruprecht's employment agreement. The charges recognized in the first quarter of 2015 principally relate to compensation of $3.1 million owed to Mr. Smith to replace incentive compensation that he expected to receive from his previous employer, consisting of a fully-vested restricted stock unit award with a fair value of $2 million granted on March 31, 2015 and a $1.1 million cash payment that was paid in September 2015. There was no required service period associated with this compensation. The CEO Separation and Transition Costs recognized in the first quarter of 2015 also include approximately $1.1 million in recruitment and other professional fees associated with the CEO hiring process.

Restructuring Charges (Net)

Restructuring Charges (Net)	12 Months Ended
	Dec. 31, 2015
Restructuring and Related Activities [Abstract]
Restructuring Charges (Net)	Voluntary Separation Incentive Programs On November 13, 2015, Sotheby's announced a series of regional voluntary separation incentive programs (the "Programs") aimed at reducing headcount and associated compensation costs. The Programs were offered to Sotheby's employees in jurisdictions where it was practical to do so. Employees who elected to participate in the Programs were accepted only upon approval by Sotheby's management. In the fourth quarter of 2015, Sotheby's recognized a charge of $36.9 million as a result of the Programs, consisting of $33.8 million in cash severance benefits and $3.1 million in accelerated equity compensation expense related to awards that will continue to vest after termination of employment, subject to Sotheby's achievement of the underlying profitability targets, when applicable. The liability related to the $33.8 million in cash severance benefits is recorded on the December 31, 2015 Consolidated Balance Sheet within Accounts Payable and Accrued Liabilities and includes $4.7 million related to 2015 incentive compensation that would have been paid to participants had they not participated in the Programs. This liability is expected to be settled through cash payments made principally in the first half of 2016. Employee transitions under the Programs commenced on December 31, 2015 and will occur throughout 2016. Management currently expects that the Programs will result in a net reduction of approximately 5% of its global headcount of approximately 1,600 employees prior to the implementation of the Programs. Restructuring Charges (Net) On July 16, 2014, the Board of Directors approved a restructuring plan (the "2014 Restructuring Plan") principally impacting Sotheby's operations in the United States and the U.K. The 2014 Restructuring Plan resulted in net Restructuring Charges of $14.2 million recognized in 2014, consisting of $13.9 million in employee termination benefits and approximately $0.3 million in lease exit costs. In 2015, Sotheby's recognized a benefit of $1 million in Restructuring Charges (net) as a result of adjustments to the initial accrual for employee termination benefits. The headcount reductions resulting from the 2014 Restructuring Plan were completed in the third quarter of 2015 and the associated liability has been fully settled.

Special Charges (Net)

Special Charges (Net)	12 Months Ended
	Dec. 31, 2015
Special Charges [Abstract]
Special Charges (Net)	Special Charges (Net) In 2014 and 2013, Sotheby's recognized Special Charges (net) of $20 million and $1.4 million , respectively, related to third party advisory, legal, and other professional service fees directly associated with issues related to shareholder activism, the resulting proxy contest with Third Point LLC ("Third Point"), and the litigation concerning Sotheby's former shareholder rights plan and the change in control provision in its credit agreement. The amount recognized in 2014 is net of a $4.6 million insurance recovery pertaining to certain professional services fees incurred in defense of the litigation concerning the former shareholder rights plan and the change in control provision in Sotheby's credit agreement. Included in Special Charges (net) in 2014 is a $10 million charge related to the reimbursement by Sotheby's of Third Point's documented, out-of-pocket expenses incurred in connection with the proxy contest and the litigation concerning Sotheby's former shareholder rights plan. This reimbursement is part of a support agreement Sotheby's entered into with Third Point, Daniel S. Loeb, Olivier Reza, Harry J. Wilson and other entities affiliated with Third Point (together with Third Point, the "Third Point Entities") on May 4, 2014 pursuant to which Sotheby's and Third Point settled the previously pending proxy contest for the election of directors (the "Support Agreement"). Pursuant to the Support Agreement, on May 4, 2014, Mr. Loeb, Mr. Reza, and Mr. Wilson (the "Third Point Nominees") were appointed to Sotheby's Board of Directors. The Support Agreement also contains various other terms and provisions, including with respect to standstill and voting commitments entered into by Third Point, Third Point's withdrawal of the litigation concerning Sotheby's former shareholder rights plan, and the accelerated expiration of Sotheby's former shareholder rights plan.

Recently Issued Accounting Stan

Recently Issued Accounting Standards	12 Months Ended
	Dec. 31, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which introduces a new five-step framework for revenue recognition. The core principal of the standard is that entities should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services. This ASU also requires enhanced disclosures regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from an entity's contracts with customers. This standard can be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. On August 12, 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers - Deferral of Effective Date , which defers the effective date of ASU 2014-09 to January 1, 2018 with early adoption beginning January 1, 2017. Management is currently assessing the potential impact of adopting this new accounting standard on Sotheby’s financial statements. In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis , which eliminates the deferral of the requirements of ASU 2009-17, Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities , for certain interests in investment funds and provides a scope exception from Accounting Standards Codification Topic 810 for certain investments in money market funds. ASU 2015-02 also makes several modifications to the consolidation guidance for variable interest entities ("VIEs") and general partners' investments in limited partnerships, as well as modifications to the evaluation of whether limited partnerships are VIEs or voting interest entities. ASU 2015-02 is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. Management is currently assessing the potential impact of adopting this new accounting standard on Sotheby's financial statements. In March 2015 and August 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs , and ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements , respectively, which change the presentation of debt issuance costs on the balance sheet. These standards require unamortized debt issuance costs to be included as a direct deduction from the related debt liability on the balance sheet, but permit companies to continue to record unamortized debt issuance costs related to revolving credit arrangements as assets. Under the current guidance, all unamortized debt issuance costs are reported as assets in the balance sheet. Sotheby's will adopt and apply these standards retrospectively on their January 1, 2016 effective date. In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes , which requires entities to present deferred tax assets and liabilities as non-current in a classified balance sheet, instead of separating into current and non-current amounts. ASU 2015-17 is effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods, on a prospective or retrospective basis. Early adoption is permitted for all companies in any interim or annual period. Sotheby's early adopted ASU 2015-17 as of December 31, 2015 on a prospective basis. Accordingly, prior period information has not been adjusted to reflect the new presentation of deferred tax assets and liabilities.

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On January 11, 2016, Sotheby's acquired certain entities comprising the business of Art Agency, Partners ("AAP"), a firm that provides a range of art-related services to art collectors, for initial cash consideration of $50 million . Sotheby's has agreed to make earn-out payments not to exceed $35 million in the aggregate over the course of the next four to five years that are contingent on the achievement of a minimum level of financial performance. Through this acquisition, Sotheby's aims to grow its auction and private sale revenues by enhancing its relationships with art collectors and improving its position in the fine art market, particularly in Impressionist, Modern and Contemporary Art. Also, as a result of this acquisition, Sotheby's will add a new revenue stream by assimilating AAP's existing art advisory services, providing a new avenue for growth.

Quarterly Results (Unaudited)

Quarterly Results (Unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results (Unaudited)	Quarterly Results (Unaudited) The worldwide 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 Sales 1 represented 78% and 79% of total annual Net Auction Sales in 2015 and 2014 , respectively, with auction commission revenues comprising approximately 75% and 81% , respectively, of Sotheby's total revenues in these years. Accordingly, Sotheby's 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 Sotheby's expenses. First Quarter Second Quarter Third Quarter Fourth Quarter (In thousands, except per share data) Year Ended December 31, 2015 Net Auction Sales $ 755,817 $ 1,856,643 $ 370,928 $ 2,033,350 Income Statement Data: Revenues: Agency commissions and fees $ 127,882 $ 310,377 $ 69,222 $ 284,439 Inventory sales 12,983 7,005 53,226 35,485 Finance 12,687 11,970 12,933 12,899 License fees 1,974 2,468 2,539 2,839 Other 149 186 72 159 Total revenues $ 155,675 $ 332,006 $ 137,992 $ 335,821 Operating income (loss) $ 18,404 $ 116,458 $ (21,707 ) $ 88,566 Net income (loss) attributable to Sotheby's $ 5,202 $ 67,572 $ (17,894 ) $ (11,153 ) Per Share Amounts: Basic earnings (loss) per share - Sotheby's common shareholders $ 0.07 $ 0.97 $ (0.26 ) $ (0.17 ) Diluted earnings (loss) per share - Sotheby's common shareholders $ 0.07 $ 0.96 $ (0.26 ) $ (0.17 ) Shares Outstanding: Basic 69,090 69,332 67,946 66,118 Diluted 69,705 69,884 67,946 66,118 Year Ended December 31, 2014 Net Auction Sales $ 734,370 $ 1,971,338 $ 322,973 $ 2,122,738 Income Statement Data: Revenues: Agency commissions and fees $ 123,128 $ 316,187 $ 76,229 $ 309,582 Inventory sales 26,001 8,733 6,273 28,951 Finance 5,682 8,140 8,917 10,274 License fees 1,697 2,462 2,376 1,949 Other 303 295 406 468 Total revenues $ 156,811 $ 335,817 $ 94,201 $ 351,224 Operating income (loss) $ 4,091 $ 130,431 $ (37,469 ) $ 128,991 Net (loss) income attributable to Sotheby's $ (6,114 ) $ 77,632 $ (27,726 ) $ 74,003 Per Share Amounts: Basic (loss) earnings per share - Sotheby's common shareholders $ (0.09 ) $ 1.12 $ (0.40 ) $ 1.07 Diluted (loss) earnings per share - Sotheby's common shareholders $ (0.09 ) $ 1.11 $ (0.40 ) $ 1.06 Shares Outstanding: Basic 69,143 68,938 68,990 68,992 Diluted 69,143 69,491 68,990 69,707 __________________________________________________________________ 1 Net Auction Sales represents the hammer or sale price of property sold at auction.

Schedule II Valuation and Quali

Schedule II Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2015
Valuation and Qualifying Accounts [Abstract]
Schedule II Valuation and Qualifying Accounts	SCHEDULE II SOTHEBY'S VALUATION AND QUALIFYING ACCOUNTS YEARS ENDED DECEMBER 31, 2015 , 2014 , AND 2013 Column A Column B Column C Column D Column E Description Balance at Beginning of Period Charged to Costs and Expenses Charged to Other Accounts Deductions Balance at End of Period (Thousands of dollars) Valuation reserve deducted in the balance sheet from the asset to which it applies: Receivables: 2015 Allowance for doubtful accounts and credit losses $ 8,484 $ 2,607 $ — $ 992 $ 10,099 2014 Allowance for doubtful accounts and credit losses $ 8,685 $ 1,893 $ — $ 2,094 $ 8,484 2013 Allowance for doubtful accounts and credit losses $ 7,969 $ 1,444 $ — $ 728 $ 8,685 Deferred tax assets: 2015 Valuation allowance $ 2,224 $ 461 $ — $ 248 $ 2,437 2014 Valuation allowance $ 3,227 $ 29 $ — $ 1,032 $ 2,224 2013 Valuation allowance $ 10,235 $ 1,735 $ 66 $ 8,809 $ 3,227

Summary of Significant Accoun36

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation —The Consolidated Financial Statements included herein have been prepared by Sotheby's (the "Company" or "Sotheby's") pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC") and are in conformity with generally accepted accounting principles ("GAAP") in the United States (the "U.S."). In the Consolidated Financial Statements, unless otherwise stated, the terms "art" or "works of art" or "artwork" or "property" refer to authenticated fine art, decorative art, jewelry, wine, and collectibles.
Adjustments to Prior Period Presentation	Adjustments to Prior Period Presentation —See Note 3 for information regarding a change in Sotheby's segment reporting that became effective in the second quarter of 2015. All prior period segment information has been updated to reflect this change.
Principles of Consolidation	Principles of Consolidation —The Consolidated Financial Statements include the accounts of Sotheby's wholly-owned subsidiaries and Sotheby's Beijing Auction Co., Ltd. ("Sotheby's Beijing"), a joint venture formed in September 2012 in which Sotheby's has a controlling 80% ownership interest. The net income attributable to the minority owner of Sotheby's Beijing is reported as "Net (Loss) Income Attributable to Noncontrolling Interest" in the Consolidated Income Statements and the non-controlling 20% ownership interest is recorded as "Noncontrolling Interest" within the Equity section of the Consolidated Balance Sheets. Intercompany transactions and balances among Sotheby's subsidiaries have been eliminated. Equity investments through which Sotheby's exercises significant influence over the investee, but does not control, are accounted for using the equity method. Under the equity method, Sotheby's share of investee earnings or losses is recorded within Equity in Earnings of Investees in the Consolidated Income Statements. Sotheby's interest in the net assets of the investee is recorded within Equity Method Investments on the Consolidated Balance Sheets. Sotheby's equity method investees include RM Sotheby's and Acquavella Modern Art. See Note 5 for information related to Sotheby's equity method investments.
Foreign Currency Translation	Foreign Currency Translation —Assets and liabilities recorded in foreign currencies are translated at the exchange rate on the balance sheet date. Revenues, expenses, gains, and losses recorded in foreign currencies are translated using the monthly average exchange rates prevailing during the period in which they are recognized. Translation adjustments resulting from this process are recorded to Other Comprehensive Income (Loss) and reported on the Consolidated Balance Sheets within Accumulated Other Comprehensive Loss until the subsidiary is sold or liquidated.
Restricted Cash	Restricted Cash —Restricted Cash includes net auction proceeds owed to consignors in certain foreign jurisdictions where such funds are legally required to be maintained in segregated bank accounts, as well as other cash deposits whose use is restricted by law, contract or management statement of intention.
Valuation of Inventory and Loan Collateral	Valuation of Inventory and Loan Collateral —The market for art is not a highly liquid trading market. As a result, the valuation of art is inherently subjective and the realizable value of art often fluctuates over time. In estimating the realizable value of art held in inventory and art pledged as collateral for Finance segment loans, management considers the following complex array of factors: (i) whether the property is expected to be offered at auction or sold privately, and the timing of any such sale; (ii) the supply and demand for the property, taking into account current art market conditions, as well as changing trends as to which collecting categories and artists are most sought after; (iii) recent sale prices achieved for comparable items within a particular collecting category and/or by a particular artist; (iv) the state of the global economy and financial markets; and (v) management's intent and ability to hold the property in order to maximize the realizable value. Due to the inherent subjectivity involved in estimating the realizable value of art held in inventory and art pledged as collateral for Finance segment loans, management's estimates of realizable value may prove, with the benefit of hindsight, to be different than the amount ultimately realized upon sale. See below for a detailed discussion of Sotheby's accounting policies with respect to Notes Receivable and Inventory.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts —Accounts Receivable principally includes amounts due from buyers as a result of auction and private sale transactions. The recorded amount reflects the purchase price of the property, including Sotheby's commission. The Allowance for Doubtful Accounts principally includes estimated losses associated with situations when Sotheby's has paid the net sale proceeds to the seller, also known as a consignor, and it is probable that payment will not be collected from the buyer. The Allowance for Doubtful Accounts also includes an estimate of probable losses inherent in the remainder of the Accounts Receivable balance. The amount of the required allowance is based on the facts available to management, including the value of any property held as collateral, and is reevaluated and adjusted as additional facts become known. Based on all available information, management believes that the Allowance for Doubtful Accounts is adequate as of December 31, 2015 ; however, actual losses may ultimately exceed the recorded allowance.
Notes Receivable and Allowance for Credit Losses	Notes Receivable and Allowance for Credit Losses —Notes Receivable principally includes secured loans issued by the Finance segment. The classification of a loan as current or non-current on the Consolidated Balance Sheets takes into account the contractual maturity date of the loan, as well as the likelihood of renewing the loan on or before its contractual maturity. The determination of whether a specific loan is impaired and the amount of any required allowance is based on the facts available to management and is reevaluated and adjusted as additional facts become known. A loan is considered to be impaired when management determines that it is probable that a portion of the principal and interest owed by the borrower will not be recovered after taking into account the estimated realizable value of the collateral securing the loan, as well as the ability of the borrower to repay any shortfall between the value of the collateral and the amount of the loan. An allowance is also established for probable losses inherent in the remainder of the loan portfolio based on historical data related to loan losses.
Inventory	Inventory —Inventory consists of artworks owned by Sotheby's and includes the following general classifications: (i) art that has been obtained as a result of the failure of guaranteed property to sell at auction (see Note 16), (ii) art that has been purchased opportunistically, including property acquired for sale at auction, and (iii) other objects obtained incidental to the auction process (e.g., as a result of buyer default). Inventory is valued on a specific identification basis at the lower of cost or management's estimate of realizable value (i.e., the expected sale price upon disposition). If there is evidence that the estimated realizable value of a specific item held in Inventory is less than its carrying value, a writedown is recorded to reflect management's revised estimate of realizable value. In 2015, 2014, and 2013, inventory writedowns totaled $20.1 million , $10 million , and $8.8 million , respectively. Although all of the items held in Inventory are available for immediate sale, the timing of eventual sale is difficult to predict due to the high value and unique nature of each item, as well as the cyclical nature of the global art market. Management expects that the items held in Inventory will be sold in the ordinary course of Sotheby's business during the normal operating cycle for such items.
Fixed Assets	Fixed Assets —Fixed Assets are stated at cost less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful life of the asset. Buildings are depreciated over a useful life of up to 50 years . Building improvements are depreciated over a useful life of up to 20 years . Furniture and fixtures are depreciated over a useful life of up to 7 years. Leasehold improvements are amortized using the straight-line method over the lesser of the term of the related lease or the estimated useful life of the improvement. Computer software consists of the capitalized cost of purchased computer software, as well as direct external and internal computer software development costs incurred in the acquisition or development of software for internal use. These costs are amortized on a straight-line basis over the estimated useful life of the software, which is typically between 7 to 10 years for enterprise systems and 3 years for other types of software.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets —Goodwill represents the excess of the purchase price paid over the fair value of net assets acquired in a business combination. Goodwill is not amortized, but it is tested annually for impairment at the reporting unit level as of October 31 and between annual tests if indicators of potential impairment exist. These indicators could include a decline in Sotheby's stock price and market capitalization, a significant change in the outlook for the reporting unit's business, lower than expected operating results, increased competition, legal factors, or the sale or disposition of a significant portion of a reporting unit. An impairment loss is recognized for any amount by which the carrying value of a reporting unit's goodwill exceeds its fair value. The fair value of a reporting unit is estimated by management using a discounted cash flow methodology. Goodwill is attributable to reporting units in the Agency segment and totaled $13.6 million and $14 million as of December 31, 2015 and 2014 , respectively, with the changes in the carrying value being attributable solely to foreign currency exchange rate movements. Other intangible assets include an indefinite lived license obtained in conjunction with Sotheby's purchase of a retail wine business in 2008.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets —Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. In such situations, long-lived assets are considered impaired when estimated future cash flows (undiscounted and without interest charges) resulting from the use of the asset and its eventual disposition are less than the asset's carrying amount. In such situations, the asset is written down to the present value of the estimated future cash flows. Factors that are considered when evaluating long-lived assets for impairment include a current expectation that it is more likely than not that the long-lived asset will be sold significantly before the end of its useful life, a significant decrease in the market price of the long-lived asset, and a significant change in the extent or manner in which the long-lived asset is being used.
Valuation of Deferred Tax Assets	Valuation of Deferred Tax Assets —A valuation allowance is recorded to reduce Sotheby's deferred tax assets to the amount that is more likely than not to be realized. In assessing the need for the valuation allowance, management considers, among other things, projections of future taxable income and ongoing prudent and feasible tax planning strategies. If management determines that sufficient negative evidence exists (for example, if Sotheby's experiences cumulative three-year losses in a certain jurisdiction), then management will consider recording a valuation allowance against a portion or all of the deferred tax assets in that jurisdiction. If, after recording a valuation allowance, management's projections of future taxable income and other positive evidence considered in evaluating the need for a valuation allowance prove, with the benefit of hindsight, to be inaccurate, it could prove to be more difficult to support the realization of Sotheby's deferred tax assets. As a result, an additional valuation allowance could be required, which would have an adverse impact on Sotheby's effective income tax rate and results. Conversely, if, after recording a valuation allowance, management determines that sufficient positive evidence exists in the jurisdiction in which it recorded the valuation allowance (for example, if Sotheby's is no longer in a three-year cumulative loss position in the jurisdiction, and management expects to have future taxable income in that jurisdiction based upon its forecasts and the expected timing of deferred tax asset reversals), management may reverse a portion or all of the valuation allowance in that jurisdiction. In such situations,
Auction Guarantees	Auction Guarantees —From time-to-time in the ordinary course of its business, Sotheby's will guarantee to a consignor a minimum sale price in connection with the sale of property at auction (an "auction guarantee"). In the event that the property sells for less than the guaranteed price, Sotheby's must perform under the auction guarantee by funding the difference between the sale price at auction and the amount of the auction guarantee. If the property does not sell, the amount of the auction guarantee must be paid, but Sotheby's takes ownership of the unsold property and may recover the amount paid through its future sale. The estimated fair value of Sotheby's obligation to perform under its auction guarantees is recorded on the Consolidated Balance Sheets within Accounts Payable and Accrued Liabilities. This estimated fair value is based on an analysis of historical loss experience related to auction guarantees and does not include the impact of risk-sharing arrangements that may have mitigated all or a portion of any historical losses.
Financial Instruments	Financial Instruments —Sotheby's material financial instruments include: (i) Cash and Cash Equivalents, (ii) Restricted Cash, (iii) Notes Receivable, (iv) credit facility borrowings, (v) the York Property Mortgage, (vi) the interest rate swap and interest rate collar associated with the York Property Mortgage, (vii) other long-term debt, (viii) the Deferred Compensation Liability and related trust assets, and (ix) outstanding forward exchange contracts. The carrying amounts of Cash and Cash Equivalents, Restricted Cash, Notes Receivable, the York Property Mortgage, and credit facility borrowings do not materially differ from their estimated fair values due to their nature and the variable interest rates associated with each of these financial instruments.
Revenue Recognition	Revenue Recognition (Agency Commissions and Fees) —Through its Agency segment, Sotheby's accepts property on consignment, stimulates buyer interest through professional marketing techniques, and matches sellers, also known as consignors, to buyers through the auction or private sale process. Prior to offering a work of art for sale, Sotheby's specialists perform significant due diligence activities to authenticate and determine the ownership history of the property being sold. The revenue recognition policy for each of the principal components of Agency Commissions and Fees is described below. (1) Auction Commission Revenues —In its role as auctioneer, Sotheby's accepts property on consignment and matches sellers to buyers through the auction process. Following the auction, Sotheby's invoices the buyer for the purchase price of the property (including the commission owed by the buyer), collects payment from the buyer, and remits to the consignor the net sale proceeds after deducting its commissions, expenses and applicable taxes and royalties. Sotheby's auction commissions include those paid by the buyer ("buyer's premium") and those paid by the seller ("seller's commission") (collectively, "auction commission revenue"), both of which are calculated as a percentage of the hammer price of the property sold at auction. On the fall of the auctioneer's hammer, the highest bidder becomes legally obligated to pay the full purchase price, which includes the hammer price of the property purchased plus the buyer's premium, and the seller is legally obligated to relinquish the property in exchange for the hammer price less any seller's commissions. Auction commission revenue is recognized on the date of the auction sale upon the fall of the auctioneer's hammer, which is the point in time when Sotheby's has substantially accomplished what it must do to be entitled to the benefits represented by the auction commission revenue. Subsequent to the date of the auction sale, Sotheby's remaining obligations for its auction services relate only to the collection of the purchase price from the buyer and the remittance of the net sale proceeds to the seller. These remaining service obligations are not an essential part of the auction services provided by Sotheby's. Under the standard terms and conditions of its auction sales, Sotheby's is not obligated to pay the consignor for property that has not been paid for by the buyer. If a buyer defaults on payment, the sale may be cancelled, and the property will be returned to the consignor. Management continually evaluates the collectability of amounts due from individual buyers and only recognizes auction commission revenue when the collection of the amount due from the buyer is reasonably assured. If management determines that it is probable that the buyer will default, a cancelled sale is recorded in the period in which that determination is made and the associated Accounts Receivable balance, including Sotheby's auction commission, is reversed. Management's judgments regarding the collectability of Accounts Receivable are based on an assessment of the buyer's payment history, discussions with the buyer, and the value of any property held as security against the buyer's payment obligation. Management's judgments with respect to the collectability of amounts due from buyers for auction purchases may prove, with the benefit of hindsight, to be incorrect. Historically, cancelled sales have not been material in relation to the aggregate hammer price of property sold at auction. Auction commission revenues are recorded net of commissions owed to third parties, which are principally the result of situations when the buyer's premium is shared with the consignor or with the counterparty in an auction guarantee risk and reward sharing arrangement (see Note 16 ). Additionally, in certain situations, auction commissions are shared with third parties who introduce Sotheby's to consignors who sell property at auction or otherwise facilitate the sale of property at auction. (2) Private Sale Commission Revenues —Private sale commission revenues are earned through the direct brokering of purchases and sales of art. Similar to auction sales, the primary service that Sotheby's provides in a private sale transaction is the matching of the seller to a buyer in a legally binding transaction. Private sales are initiated either by a client wishing to sell property with Sotheby's acting as its exclusive agent in the transaction or a prospective buyer who is interested in purchasing a certain work of art privately. Such arrangements are evidenced by a legally binding agreement between Sotheby's and the seller (a "Seller Agreement"), which outlines the terms of the arrangement, including the desired sale price and the amount or rate of commission to be earned. In certain situations, Sotheby's may also execute a legally binding agreement with the buyer stipulating the terms of the transaction (a "Buyer Agreement"). The timing of revenue recognition for private sale commissions is evaluated on a case-by-case basis, and in large part, is dependent upon whether a Buyer Agreement has been executed. Additionally, a careful analysis of the individual facts and circumstances is performed for each transaction to fully understand Sotheby's obligations and performance requirements related to the transaction. In transactions with a Buyer Agreement, Sotheby's services are performed on the date that the Buyer Agreement is executed. At this point, any remaining service obligations are considered to be inconsequential and perfunctory. Such remaining service obligations normally relate only to the collection of the purchase price from the buyer and the remittance of the net sale proceeds to the seller. These remaining service obligations are not an essential part of the services that Sotheby's provides in a private sale transaction. In the absence of an executed Buyer Agreement, revenue recognition is deferred until Sotheby's has performed its substantive service obligations in the transaction and the buyer has paid the full purchase price thereby evidencing the terms of the arrangement. Private sale commission revenues are recorded within Agency Commissions and Fees in the Consolidated Income Statements. Private sale commission revenues are recorded net of commissions owed to third parties. In certain situations, commissions are shared with third parties who introduce Sotheby's to consignors who sell property through a private sale transaction. (3) Auction Guarantees, Net —This component of Agency Commissions and Fees includes Sotheby's share of overage or shortfall related to guaranteed property offered or sold at auction. The overage or shortfall related to guaranteed property is generally recognized in the period in which the property is offered at auction. However, a shortfall is recognized prior to the date of the auction if management determines that a loss related to an auction guarantee is probable. In such situations, the amount of the loss is estimated by management based on the difference between the amount of the auction guarantee and the expected selling price of the property, including buyer's premium. Revenue Recognition (Inventory Sales) —Inventory sales are recognized in the period in which the sale is completed, title to the property passes to the purchaser and Sotheby's has fulfilled any other obligations that may be relevant to the transaction, including, but not limited to, delivery of the property. In instances when Inventory is sold at auction, the associated buyer's premium is recorded within Inventory Sales. The carrying value of Inventory sold during a period is recorded within Cost of Inventory Sales. Revenue Recognition (Finance Revenues) —Finance revenues consist principally of interest income earned on Notes Receivable. Such interest income is recognized when earned, based on the amount of the outstanding loan, the applicable interest rate on the loan, and the length of time the loan is outstanding during the period. A non-accrual loan is a loan for which future Finance revenue is not recorded due to management's determination that it is probable that future interest on the loan is not collectible. Any cash receipts subsequently received on non-accrual loans are first applied to reduce the recorded principal balance of the loan, with any proceeds in excess of the principal balance then applied to interest owed by the borrower. The recognition of Finance revenue may resume on a non-accrual loan if sufficient additional collateral is provided by the borrower or if management becomes aware of other circumstances that indicate that it is probable that the borrower will make future interest payments on the loan.
Sales, Use and Value-Added Taxes	Sales, Use and Value-Added Taxes —Sales, use and value-added taxes assessed by governmental authorities that are both imposed on and concurrent with revenue-producing transactions between Sotheby's and its clients are reported on a net basis within revenues.
Agency Direct Costs	Agency Direct Costs —A large portion of Agency Direct Costs relate to sale marketing expenses such as catalogue production and distribution, advertising and promotion costs, and traveling exhibition costs. Such costs are deferred and recorded on the Consolidated Balance Sheets within Prepaid Expenses and Other Current Assets until the date of the sale when they are recognized in the Consolidated Income Statements.
Cost of Finance Revenues	Cost of Finance Revenues —The Cost of Finance Revenues includes borrowing costs related to the Finance segment's revolving credit facility, including interest expense, commitment fees, and the amortization of amendment and arrangement fees. See Note 7
Share-Based Payments	Share-Based Payments —Sotheby's grants share-based payment awards as compensation to certain employees. The amount of compensation expense recognized for share-based payments is based on management's estimate of the number of shares ultimately expected to vest as a result of employee service. For share-based payment awards that vest annually over a multi-year period of service, compensation expense is amortized over the requisite service period according to a graded vesting schedule. For share-based payment awards that vest at the end of a service period, compensation expense is amortized on a straight-line basis over the requisite service period. A substantial portion of the share-based payment awards vest only if Sotheby's achieves established profitability targets. The amount and timing of compensation expense recognized for such performance-based awards is dependent upon management's quarterly assessment of the likelihood and timing of achieving these future profitability targets. Accordingly, if management's projections of future profitability prove, with the benefit of hindsight, to be inaccurate, the amount of life-to-date and future compensation expense related to share-based payments could significantly increase or decrease. In 2015, Sotheby's granted a share-based payment award to Thomas S. Smith, Jr., its President and Chief Executive Officer, with a single vesting opportunity after a five -year service period contingent upon the achievement of pre-determined levels of Sotheby's stock price appreciation. The compensation expense recognized for this share-based payment is based on management's estimate of the grant date fair value of the award. In developing this estimate, management considers current market conditions, historical data, and any other relevant data. Dividend equivalents related to share-based payments to employees are charged to Retained Earnings.
Use of Estimates	Use of Estimates —The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates and could change in the short-term.
Earnings Per Share	Basic earnings per share —Basic earnings per share attributable to Sotheby's common shareholders is computed under the two-class method using the weighted average number of common shares outstanding during the period. The two-class method requires that the amount of net income attributable to participating securities be deducted from consolidated net income in the computation of basic earnings per share. In periods with a net loss, the net loss attributable to participating securities is not deducted from consolidated net loss in the computation of basic loss per share as the impact would be anti-dilutive. Sotheby's participating securities include unvested restricted stock units and unvested restricted stock shares, both of which have non-forfeitable rights to dividends. Diluted earnings per share —Diluted earnings per share attributable to Sotheby's common shareholders is computed in a similar manner to basic earnings per share under the two-class method, using the weighted average number of common shares outstanding during the period and, if dilutive, the weighted average number of potential common shares outstanding during the period. Sotheby's potential common shares include unvested performance share units held by employees, incremental common shares issuable upon the exercise of employee stock options, and deferred stock units held by members of the Board of Directors. In 2013, Sotheby's potential common shares also included the net shares that would have been delivered to settle the premium upon conversion of then-outstanding convertible debt, as well as the net shares that would have been issued upon the exercise of then-outstanding common stock warrants. See Note 7 for information on Sotheby's 3.125% Convertible Notes, which were settled in June 2013, and the related common stock warrants that were settled in the fourth quarter of 2013. See Note 12 for information on Sotheby's share-based payment programs.
Segment Reporting	otheby's is a global art business whose operations are organized under two segments—Agency and Finance. The Agency segment earns commissions by matching buyers and sellers of authenticated works of art through the auction or private sale process. To a much lesser extent, Agency segment activities also include the sale of artworks that are principally acquired incidental to the auction process and the activities of RM Sotheby's, an equity investee that operates as an auction house for investment-quality automobiles (see Note 5). The Finance segment earns interest income through art-related financing activities by making loans that are secured by works of art (see Note 4). Prior to the second quarter of 2015, Sotheby's also separately reported the results of the Principal segment, which consisted of its dealer-related activities and primarily included the sale of artworks purchased opportunistically by Sotheby's. In the second quarter of 2015, Sotheby's transitioned to its new CEO (and chief operating decision maker), and the information regularly reviewed for the purpose of allocating resources and assessing performance was updated to reflect a simplified internal reporting structure. As a result, beginning in the second quarter of 2015, the sale of artworks purchased opportunistically by Sotheby's is reported as part of the Agency segment. The remaining activities of the former Principal segment are reported within All Other. Such activities include Sotheby's retail wine operations, Acquavella Modern Art ("AMA"), an equity investee (see Note 5), and sales of the remaining inventory of Noortman Master Paintings, an art dealer that was owned and operated by Sotheby's from its acquisition in June 2006 until its closure in December 2013. Prior period amounts have been restated to reflect this new segment presentation. Agency Segment —Through the Agency segment, Sotheby's accepts property on consignment, stimulates buyer interest through professional marketing techniques, and matches sellers, also known as consignors, to buyers through the auction or private sale process. Prior to offering a work of art for sale, Sotheby's specialists perform significant due diligence activities to authenticate and determine the ownership history of the property being sold. To a much lesser extent, Agency segment activities also include the sale of artworks that are principally acquired incidental to the auction process (see Note 1). The Agency segment is an aggregation of the auction, private sale, and other related activities conducted by Sotheby's operating segments in the Americas, Europe, and Asia, which have similar economic characteristics and are similar in their services, customers, and the manner in which their services are provided. Finance Segment —The Finance segment provides certain collectors and art dealers with financing secured by works of art that Sotheby's either has in its possession or permits borrowers to possess. The Finance segment generally makes two types of secured loans: (1) advances secured by consigned property where the borrowers are contractually committed, in the near term, to sell the property through the Agency segment (a "consignor advance"); and (2) general purpose term loans secured by property not presently intended for sale (a "term loan"). All Other —All Other includes the remaining activities of the former Principal segment, as discussed above, as well as the results of Sotheby's brand licensing activities and other ancillary businesses, which are not material to Sotheby's consolidated financial statements. The accounting policies of Sotheby's segments are the same as those described in Note 1. For auction commissions, revenues are attributed to geographic areas based on the location of the auction. For private sale commissions, revenues are attributed to geographic areas based on the location of the entities which significantly contributed to the completion of the sale. For inventory activities, revenues are attributed to geographic areas based on the location of the entity that holds legal title to the property sold. Finance segment revenues are attributed to geographic areas based on the location of the entity that originated the loan.
Recently Issued Accounting Standards	In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which introduces a new five-step framework for revenue recognition. The core principal of the standard is that entities should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services. This ASU also requires enhanced disclosures regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from an entity's contracts with customers. This standard can be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. On August 12, 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers - Deferral of Effective Date , which defers the effective date of ASU 2014-09 to January 1, 2018 with early adoption beginning January 1, 2017. Management is currently assessing the potential impact of adopting this new accounting standard on Sotheby’s financial statements. In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis , which eliminates the deferral of the requirements of ASU 2009-17, Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities , for certain interests in investment funds and provides a scope exception from Accounting Standards Codification Topic 810 for certain investments in money market funds. ASU 2015-02 also makes several modifications to the consolidation guidance for variable interest entities ("VIEs") and general partners' investments in limited partnerships, as well as modifications to the evaluation of whether limited partnerships are VIEs or voting interest entities. ASU 2015-02 is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. Management is currently assessing the potential impact of adopting this new accounting standard on Sotheby's financial statements. In March 2015 and August 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs , and ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements , respectively, which change the presentation of debt issuance costs on the balance sheet. These standards require unamortized debt issuance costs to be included as a direct deduction from the related debt liability on the balance sheet, but permit companies to continue to record unamortized debt issuance costs related to revolving credit arrangements as assets. Under the current guidance, all unamortized debt issuance costs are reported as assets in the balance sheet. Sotheby's will adopt and apply these standards retrospectively on their January 1, 2016 effective date. In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes , which requires entities to present deferred tax assets and liabilities as non-current in a classified balance sheet, instead of separating into current and non-current amounts. ASU 2015-17 is effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods, on a prospective or retrospective basis. Early adoption is permitted for all companies in any interim or annual period. Sotheby's early adopted ASU 2015-17 as of December 31, 2015 on a prospective basis. Accordingly, prior period information has not been adjusted to reflect the new presentation of deferred tax assets and liabilities.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Computation Of Basic And Diluted Earnings Per Share	The table below summarizes the computation of basic and diluted earnings per share for the years ended December 31, 2015 , 2014 , and 2013 (in thousands of dollars, except per share amounts): 2015 2014 2013 Basic: Numerator: Net income attributable to Sotheby's $ 43,727 $ 117,795 $ 130,006 Less: Net income attributable to participating securities 354 1,047 60 Net income attributable to Sotheby's common shareholders $ 43,373 $ 116,748 $ 129,946 Denominator: Weighted average common shares outstanding 68,121 69,016 68,374 Basic earnings per share - Sotheby's common shareholders $ 0.64 $ 1.69 $ 1.90 Diluted: Numerator: Net income attributable to Sotheby's $ 43,727 $ 117,795 $ 130,006 Less: Net income attributable to participating securities 354 1,047 60 Net income attributable to Sotheby's common shareholders $ 43,373 $ 116,748 $ 129,946 Denominator: Weighted average common shares outstanding 68,121 69,016 68,374 Weighted average effect of dilutive potential common shares: Convertible debt — — 97 Performance share units 438 407 428 Deferred stock units 167 162 150 Stock options 18 21 77 Warrants — — 49 Weighted average dilutive potential common shares outstanding 623 590 801 Weighted average diluted shares outstanding 68,744 69,606 69,175 Diluted earnings per share - Sotheby's common shareholders $ 0.63 $ 1.68 $ 1.88

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Reporting, Measurement Disclosures [Abstract]
Schedule of Segment Information	The following table presents Sotheby's segment information for 2015 , 2014 , and 2013 (in thousands of dollars): Year ended December 31, 2015 Agency Finance All Other Reconciling items Total Revenues $ 892,030 $ 65,248 $ 18,975 $ (14,759 ) (a) $ 961,494 Interest income $ 1,773 $ 3 $ — $ — $ 1,776 Interest expense $ 32,745 $ — $ — $ — $ 32,745 Depreciation and amortization $ 19,233 $ 124 $ 124 $ — $ 19,481 Segment income before taxes $ 139,942 $ 41,303 $ 10,864 $ (22,810 ) $ 169,299 Year ended December 31, 2014 Revenues $ 885,293 $ 47,290 $ 19,747 $ (14,277 ) (a) $ 938,053 Interest income $ 1,857 $ 18 $ 8 $ — $ 1,883 Interest expense $ 35,189 $ — $ — $ — $ 35,189 Depreciation and amortization $ 20,110 $ 130 $ 335 $ — $ 20,575 Segment income before taxes $ 182,763 $ 31,763 (b) $ 7,424 $ (28,929 ) $ 193,021 Year ended December 31, 2013 Revenues $ 799,886 $ 32,792 $ 32,515 $ (11,515 ) (a) $ 853,678 Interest income $ 3,860 $ — $ 31 $ (1,090 ) (c) $ 2,801 Interest expense $ 42,636 $ 67 $ 9 $ — $ 42,712 Depreciation and amortization $ 19,072 $ 125 $ 238 $ — $ 19,435 Segment income (loss) before taxes $ 164,348 $ 23,009 (b) $ (265 ) $ (1,399 ) $ 185,693 (a) The reconciling items related to Revenues consist principally of amounts charged by the Finance segment to the Agency segment, including interest and facility fees related to certain loans made to Agency segment clients, as well as, beginning on January 1, 2015, fees charged for term loan collateral sold at auction or privately through the Agency segment. In 2015, fees related to such collateral sales totaled $7.8 million . Prior period segment results for 2014 and 2013 have been adjusted to include $5.3 million and $1.6 million , respectively, of such fees. (b) In 2014 and 2013, Finance segment income before taxes includes $2.1 million and $2.7 million , respectively, of intercompany charges from Sotheby's global treasury function. Beginning in 2015, these charges are no longer applicable due to the financing of the Finance segment's loan portfolio with debt. See Notes 3 and 7 for information on the capital structure of the Finance segment and the financing of client loans with debt. (c) In 2013, the reconciling item related to Interest Income relates to charges from the Agency segment to the Finance segment for intercompany borrowing costs. Beginning in 2014, these charges are no longer applicable due to the financing of the Finance segment's loan portfolio with debt. See Notes 3 and 7 for information on the capital structure of the Finance segment and the financing of client loans with debt.
Schedule of Agency Segment Revenue	For the years ended December 31, 2015 , 2014 , and 2013 Agency segment revenues consisted of the following (in thousands of dollars): 2015 2014 2013 Auction commissions $ 719,152 $ 758,213 $ 687,853 Private sale commissions 61,256 60,183 88,171 Auction guarantees (net) (11,567 ) (15,462 ) (2,186 ) Other (a) 23,079 22,192 19,801 Total Agency commissions and fees 791,920 825,126 793,639 Inventory Sales 100,110 60,167 6,247 Total Agency segment revenues $ 892,030 $ 885,293 $ 799,886 (a) Includes commissions and other fees earned by Sotheby's on sales brokered by third parties, fees charged to consignors for property withdrawn prior to auction and for catalogue production and insurance, and catalogue subscription and advertising revenues.
Reconciliation from Segments to Consolidated Revenues	The table below provides a reconciliation of segment revenues to consolidated revenues for the years ended December 31, 2015 , 2014 , and 2013 (in thousands of dollars): 2015 2014 2013 Agency $ 892,030 $ 885,293 $ 799,886 Finance 65,248 47,290 32,792 All Other 18,975 19,747 32,515 Segment revenues 976,253 952,330 865,193 Reconciling items: Intercompany charges from Finance to Agency (a) (14,759 ) (14,277 ) (11,515 ) Total revenues $ 961,494 $ 938,053 $ 853,678 (a) Includes interest charged for secured loans issued with an interest rate below the Finance segment's target rate, as well as facility fees charged for secured loans where the facility fee owed by the borrower is either reduced or waived. The reduction or waiver of such interest and fees is done as an accommodation to the Agency segment to secure a consignment or enhance a client relationship. Also, beginning on January 1, 2015, this reconciling item includes fees charged for term loan collateral sold at auction or privately through the Agency segment. Such fees are paid to compensate the Finance segment for generating auction and private sale consignments.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The table below details the unallocated amounts and reconciling items related to segment income before taxes and provides a reconciliation of segment income before taxes to consolidated income before taxes for the years ended December 31, 2015 , 2014 , and 2013 (in thousands of dollars): 2015 2014 2013 Agency $ 139,942 $ 182,763 $ 164,348 Finance 41,303 31,763 23,009 All Other 10,864 7,424 (265 ) Segment income before taxes 192,109 221,950 187,092 Unallocated amounts and reconciling items: Leadership transition severance costs (a) (13,251 ) — — CEO separation and transition costs (see Note 20) (4,232 ) (7,591 ) — Special charges (net) (see Note 22) — (20,008 ) (1,372 ) Equity in earnings of investees (b) (5,327 ) (1,330 ) (27 ) Income before taxes $ 169,299 $ 193,021 $ 185,693 (a) In 2015, Sotheby's incurred severance costs of $13.3 million associated with the termination of certain executive officers, including its former Chief Financial Officer and former Chief Operating Officer, in conjunction with Sotheby's recent leadership transition. (b) For segment reporting purposes, Sotheby's share of earnings related to its equity investees is included as part of income before taxes. However, such earnings are reported separately below income before taxes in the Consolidated Income Statements. In 2015, Agency segment results includes $2.5 million of equity earnings related to RM Sotheby's. In 2015 and 2014, All Other includes $2.8 million and $1.3 million , respectively, of equity earnings related to Acquavella Modern Art. See Note 5 for information related to Sotheby's equity method investments.
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area	The table below presents geographic information about revenues for the years ended December 31, 2015 , 2014 , and 2013 for all countries which exceeded 5% of total revenues (in thousands of dollars): 2015 2014 2013 United States $ 463,129 $ 402,385 $ 353,474 United Kingdom (the "U.K.") 257,336 271,505 230,304 Hong Kong and China 146,262 165,066 153,909 Switzerland 50,134 46,226 41,150 France 41,803 48,032 46,891 Other countries 17,589 19,116 39,465 Reconciling item: Intercompany revenue (14,759 ) (14,277 ) (11,515 ) Total $ 961,494 $ 938,053 $ 853,678
Reconciliation Of Segment Assets To Consolidated Assets	The table below presents assets for Sotheby's segments, as well as a reconciliation of segment assets to consolidated assets as of December 31, 2015 , 2014 and 2013 (in thousands of dollars): December 31, 2015 2014 2013 Agency $ 2,510,257 $ 2,391,763 $ 2,314,356 Finance 721,781 658,710 480,103 All Other 25,178 29,067 31,182 Total segment assets 3,257,216 3,079,540 2,825,641 Unallocated amounts: Deferred tax assets and income tax receivable 16,913 55,280 67,905 Consolidated assets $ 3,274,129 $ 3,134,820 $ 2,893,546

Receivables (Tables)

Receivables (Tables)	12 Months Ended
	Dec. 31, 2015
Accounts and Notes Receivable, Net [Abstract]
Schedule Of Notes Receivable by Segment	As of December 31, 2015 and 2014 , Notes Receivable (net) related to the Finance segment consisted of the following (in thousands of dollars): December 31, 2015 2014 Consignor advances $ 30,180 $ 25,994 Term loans 652,078 618,447 Total Finance segment Notes Receivable (net) $ 682,258 $ 644,441
Financing Receivable Credit Quality Indicators	The table below provides the aggregate LTV ratio for the Finance segment loan portfolio of secured loans as of December 31, 2015 and 2014 (in thousands of dollars): December 31, 2015 2014 Finance segment secured loans $ 682,258 $ 644,441 Low auction estimate of collateral $ 1,380,022 $ 1,349,094 Aggregate LTV ratio 49 % 48 % The table below provides the aggregate LTV ratio for Finance segment secured loans with an LTV above 50% as of December 31, 2015 and 2014 (in thousands of dollars): December 31, 2015 2014 Finance segment secured loans with an LTV ratio above 50% $ 354,049 $ 329,135 Low auction estimate of collateral related to Finance segment secured loans with an LTV above 50% $ 626,829 $ 556,662 Aggregate LTV ratio of Finance segment secured loans with an LTV above 50% 56% 59%
Summary Of Other Credit Quality Information Regarding Finance Segment Secured Loans	The table below provides other credit quality information regarding Finance segment secured loans as of December 31, 2015 and 2014 (in thousands of dollars): December 31, 2015 2014 Total secured loans $ 682,258 $ 644,441 Loans past due $ 11,819 $ 22,409 Loans more than 90 days past due $ 7,828 $ — Non-accrual loans $ — $ — Impaired loans $ — $ — Allowance for credit losses: Allowance for credit losses for impaired loans $ — $ — Allowance for credit losses based on historical data 1,458 1,166 Total allowance for credit losses - secured loans $ 1,458 $ 1,166
Activity Related To Allowance For Credit Losses	During the period January 1, 2014 to December 31, 2015 , activity related to the Allowance for Credit Losses was as follows (in thousands of dollars): Allowance for Credit Losses as of January 1, 2014 $ 1,746 Change in loan loss provision (580 ) Allowance for Credit Losses as of December 31, 2014 1,166 Change in loan loss provision 292 Allowance for Credit Losses as of December 31, 2015 $ 1,458

Fixed Assets (Tables)

Fixed Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Summary Of Fixed Assets	As of December 31, 2015 and 2014 , Fixed Assets consisted of the following (in thousands of dollars): December 31, 2015 2014 Land $ 93,078 $ 93,353 Buildings and building improvements 226,530 226,465 Leasehold improvements 82,011 83,643 Computer hardware and software 73,728 71,422 Furniture, fixtures and equipment 78,529 78,182 Construction in progress 2,090 1,401 Other 2,015 1,176 Sub-total 557,981 555,642 Less: Accumulated depreciation and amortization (203,487 ) (191,260 ) Total Fixed Assets, net $ 354,494 $ 364,382

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Instruments [Abstract]
Schedule of Credit Agreements	The following tables summarize information relevant to the Credit Agreement as of and for the years ended December 31, 2015 and 2014 (in thousands of dollars): December 31, 2015 Agency Credit Facility Finance Credit Facility Total Maximum borrowing capacity (a) $ 300,000 $ 1,035,000 $ 1,335,000 Borrowing base (b) $ 225,642 $ 547,586 $ 773,228 Borrowings outstanding $ — $ 541,500 $ 541,500 Available borrowing capacity (c) $ 225,642 $ 6,086 $ 231,728 Average borrowings outstanding $ — $ 541,004 $ 541,004 Borrowing Costs - interest $ — (d) $ 14,060 (e) $ 14,060 Borrowing Costs - fee amortization $ 2,752 (d) $ 1,720 (e) $ 4,472 December 31, 2014 Agency Credit Facility Finance Credit Facility Total Maximum borrowing capacity (a) $ 300,000 $ 550,000 $ 850,000 Borrowing base (b) $ 237,830 $ 519,255 $ 757,085 Borrowings outstanding $ — $ 445,000 $ 445,000 Available borrowing capacity (c) $ 237,830 $ 74,255 $ 312,085 Average borrowings outstanding $ — $ 306,448 $ 306,448 Borrowing Costs - interest $ — (d) $ 7,751 (e) $ 7,751 Borrowing Costs - fee amortization $ 2,240 (d) $ 989 (e) $ 3,229 Legend: (a) In June 2015, the Credit Agreement was amended to, among other things, increase the maximum borrowing capacity of the Credit Agreement from $850 million to approximately $1.335 billion . (b) The borrowing base under the Agency Credit Facility is determined by a calculation that is primarily based upon a percentage of the carrying values of certain auction guarantee advances (see Note 4), a percentage of the carrying value of certain inventory, a percentage of the carrying value of certain extended payment term receivables arising from auction or private sale transactions (see Note 4), and the fair value of certain of Sotheby's trademarks. The borrowing base under the Finance Credit Facility is determined by a calculation that is primarily based upon a percentage of the carrying values of certain loans in the Finance segment loan portfolio and the fair value of certain of Sotheby's trademarks. The borrowing base of the Incremental Facility is determined by a calculation that is based on a percentage of the carrying value of certain inventory and the fair value of certain of Sotheby's trademarks. (c) The available borrowing capacity is calculated as the borrowing base less borrowings outstanding. (d) Borrowing costs related to the Agency Credit Facility, which include interest and fee amortization, are reflected in the Consolidated Income Statements within Interest Expense. See the table below for additional information related to Interest Expense associated with the Agency Credit Facility. (e) Borrowing costs related to the Finance Credit Facility are reflected in the Consolidated Income Statements within Cost of Finance Revenues. For the years ended December 31, 2015 and 2014 , the weighted average cost of borrowings related to the Finance Credit Facility was approximately 2.9% .
Schedule of Debt	As of December 31, 2015 and 2014 , Long-Term Debt consisted of the following (in thousands of dollars): December 31, 2015 2014 York Property Mortgage, net of unamortized discount of $0 and $1,782 $ 322,069 $ 218,728 2022 Senior Notes 300,000 300,000 Less current portion: York Property Mortgage (7,302 ) (218,728 ) Total Long-Term Debt $ 614,767 $ 300,000
Aggregate Future Principal And Interest Payments	The aggregate future principal and interest payments due under the York Property Mortgage, the 2022 Senior Notes, and Sotheby's revolving credit facility during the five year period after the December 31, 2015 balance sheet date are as follows (in thousands of dollars): Year Amount 2016 $ 33,186 2017 $ 34,925 2018 $ 36,587 2019 $ 36,598 2020 $ 578,108
Components Of Interest Expense	For the years ended December 31, 2015 , 2014 , and 2013 , Interest Expense consisted of the following (in thousands of dollars): December 31, 2015 2014 2013 Agency Segment Credit Facility: Amendment and arrangement fees $ 1,167 $ 1,096 $ 1,279 Commitment fees 1,585 1,144 1,532 Sub-total 2,752 2,240 2,811 York Property Mortgage 13,537 16,335 16,512 2022 Senior Notes 16,394 16,394 16,394 Convertible Notes — — 6,894 Other interest expense 62 220 101 Total Interest Expense $ 32,745 $ 35,189 $ 42,712 In the table above, Interest Expense related to the York Property Mortgage, the 2022 Senior Notes, and the Convertible Notes includes the amortization of debt issuance costs and, when applicable, the amortization of discount.
Convertible Note Interest Expenses	For the year ended December 31, 2013 , Interest Expense related to the Convertible Notes consisted of the following (in thousands of dollars): 2013 Contractual coupon interest expense $ 2,621 Discount amortization 3,796 Debt issuance cost amortization 477 Total $ 6,894

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	For the years ended December 31, 2015 , 2014 , and 2013 , the significant components of income tax expense consisted of the following (in thousands of dollars): December 31, 2015 2014 2013 Income before taxes: Domestic $ 11,414 $ 21,976 $ 45,093 Foreign 157,885 171,045 140,600 Total $ 169,299 $ 193,021 $ 185,693 Income tax expense—current: Domestic $ 10,455 $ 22,220 $ 8,131 State and local 5,958 6,946 8,301 Foreign 33,043 37,762 29,602 Sub-total 49,456 66,928 46,034 Income tax expense (benefit)—deferred: Domestic 69,835 5,406 2,543 State and local 6,378 6,314 (241 ) Foreign 5,476 (2,887 ) 7,366 Sub-total 81,689 8,833 9,668 Total $ 131,145 $ 75,761 $ 55,702
Schedule of Deferred Tax Assets and Liabilities	As of December 31, 2015 and 2014 , the components of Deferred Tax Assets and Deferred Tax Liabilities consisted of the following (in thousands of dollars): December 31, 2015 2014 Deferred Tax Assets: Asset provisions and liabilities $ 13,720 $ 10,452 Inventory writedowns 10,621 8,756 Tax loss and credit carryforwards 2,887 2,748 Difference between book and tax basis of depreciable and amortizable assets 17,857 18,737 Share-based payments and deferred compensation 34,165 36,494 Sub-total 79,250 77,187 Valuation allowance (2,437 ) (2,224 ) Total deferred tax assets 76,813 74,963 Deferred Tax Liabilities: Difference between book and tax basis of other assets and liabilities 2,361 3,323 Pension obligations 11,231 3,921 Basis differences in equity method investments 3,805 3,884 Undistributed earnings of foreign subsidiaries 91,924 16,432 Total deferred tax liabilities 109,321 27,560 Total net deferred tax (liabilities) assets $ (32,508 ) $ 47,403
Schedule of Effective Income Tax Rate Reconciliation	For the years ended December 31, 2015 , 2014 , and 2013 , the effective income tax rate varied from the statutory tax rate as follows: 2015 2014 2013 Statutory federal income tax rate 35.0 % 35.0 % 35.0 % State and local taxes, net of federal tax benefit 2.3 % 2.5 % 2.8 % Foreign taxes at rates different from U.S. rates (14.9 %) (13.5 %) (11.1 %) Tax effect of undistributed earnings of foreign subsidiaries 48.2 % 9.6 % 11.0 % Deemed income from foreign subsidiaries, net 2.3 % 3.0 % 2.2 % Valuation allowance 0.3 % (0.2 %) (4.5 %) Effect of enacted tax legislation 2.5 % 2.0 % 0.1 % Worthless stock deduction 0.0 % 0.0 % (3.7 %) Other 1.8 % 0.8 % (1.8 %) Effective income tax rate 77.5 % 39.2 % 30.0 %

Uncertain Tax Positions (Tables

Uncertain Tax Positions (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Uncertainties [Abstract]
Summary of Income Tax Contingencies	The table below presents a reconciliation of the beginning and ending balances of the liability for unrecognized tax benefits, excluding interest and penalties, for the years ended December 31, 2015 , 2014 , and 2013 (in thousands of dollars): 2015 2014 2013 Balance at January 1 $ 22,798 $ 25,423 $ 35,400 Increases in unrecognized tax benefits related to the current year 2,917 2,229 8,999 Increases in unrecognized tax benefits related to prior years 2,276 167 9 Decreases in unrecognized tax benefits related to prior years (1,973 ) (134 ) (16,651 ) Decreases in unrecognized tax benefits related to settlements (437 ) (590 ) (555 ) Decreases in unrecognized tax benefits due to the lapse of the applicable statute of limitations (3,539 ) (4,297 ) (1,779 ) Balance at December 31 $ 22,042 $ 22,798 $ 25,423

Lease Commitments Lease Commitm

Lease Commitments Lease Commitments (Tables)	12 Months Ended
	Dec. 31, 2015
Leases, Operating [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	Future minimum lease payments due under non-cancellable operating leases in effect at December 31, 2015 were as follows (in thousands of dollars): 2016 $ 17,288 2017 13,730 2018 6,718 2019 5,983 2020 5,539 Thereafter 34,705 Total future minimum lease payments $ 83,963

Shareholders' Equity and Divi45

Shareholders' Equity and Dividends (Tables)	12 Months Ended
	Dec. 31, 2015
Shareholders' Equity and Dividends [Abstract]
Schedule of Quarterly Dividends Declared and Paid	The following table summarizes regular quarterly cash dividends declared and paid during the years ended December 31, 2015 , 2014 , and 2013 (in thousands of dollars, except per share amounts): Year Dividends Per Common Share Total Dividends 2015 $ 0.40 $ 27,107 2014 $ 0.40 $ 27,636 2013 $ 0.20 $ 13,754

Share-Based Payments (Tables)

Share-Based Payments (Tables)	12 Months Ended
	Dec. 31, 2015
Dividends, Share-based Compensation [Abstract]
Compensation Expense Related To Share-Based Payments	For the years ended December 31, 2015 , 2014 , and 2013 , compensation expense related to share-based payments was reflected in the following accounts in the Consolidated Income Statements (in thousands of dollars): 2015 2014 2013 Salaries and related costs $ 28,632 $ 23,470 $ 22,350 Voluntary separation incentive programs (see Note 19) 3,068 — — CEO separation and transition costs (see Note 20) 2,000 3,591 — Total share-based payment expense (pre-tax) $ 33,700 $ 27,061 $ 22,350 Total share-based payment expense (after-tax) $ 22,992 $ 17,683 $ 15,299
Changes In Number Of Outstanding Restricted Stock, RSU's And PSU's	For the year ended December 31, 2015 , changes to the number of outstanding RSU's, PSU's, and Restricted Stock were as follows (shares in thousands): Restricted Weighted Average Grant Date Fair Value Outstanding at January 1, 2015 1,806 $ 40.32 Granted 973 $ 47.02 Vested (549 ) $ 39.31 Canceled (211 ) $ 41.63 Outstanding at December 31, 2015 2,019 $ 43.61

Accumulated Other Comprehensi47

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2015
Other Comprehensive Income (Loss) [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following is a summary of the changes in Accumulated Other Comprehensive Loss during the period January 1, 2013 to December 31, 2015 (in thousands of dollars): Foreign Currency Items Defined Benefit Pension Items Derivative Financial Instruments Total Balance at January 1, 2013 $ (16,084 ) $ (34,291 ) $ — $ (50,375 ) Other comprehensive income (loss) before reclassifications 14,732 (858 ) — 13,874 Net unrecognized loss — (4,065 ) — (4,065 ) Amounts reclassified from accumulated other comprehensive loss — 1,113 — 1,113 Net other comprehensive income (loss) 14,732 (3,810 ) — 10,922 Balance at December 31, 2013 (1,352 ) (38,101 ) — (39,453 ) Other comprehensive (loss) income before reclassifications (33,929 ) 2,468 — (31,461 ) Net unrecognized loss — (9,787 ) — (9,787 ) Amounts reclassified from accumulated other comprehensive loss 2,058 1,877 — 3,935 Net other comprehensive loss (31,871 ) (5,442 ) — (37,313 ) Balance at December 31, 2014 (33,223 ) (43,543 ) — (76,766 ) Other comprehensive (loss) income before reclassifications (18,951 ) 1,097 (4,994 ) (22,848 ) Net unrecognized gain — 29,363 — 29,363 Amounts reclassified from accumulated other comprehensive loss (105 ) 3,464 688 4,047 Net other comprehensive (loss) income (19,056 ) 33,924 (4,306 ) 10,562 Balance at December 31, 2015 $ (52,279 ) $ (9,619 ) $ (4,306 ) $ (66,204 )

Pension Arrangements (Tables)

Pension Arrangements (Tables)	12 Months Ended
	Dec. 31, 2015
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Trust assets related to deferred compensation liability	As of December 31, 2015 and 2014 , the DCP liability was $39 million and $49.6 million , respectively, and the assets held in the rabbi trust consisted of the following (in thousands of dollars): December 31, 2015 2014 Company-owned variable life insurance $ 37,155 $ 45,895 Money market mutual fund investments 688 4,595 Total $ 37,843 $ 50,490
Change In Benefit Obligation, Change in Fair Value of Plan Assets, and Funded Status	The table below details the changes in the projected benefit obligation, plan assets, and funded status of the U.K. Pension Plan, as well as the net pension asset recognized on the Consolidated Balance Sheets, as of December 31, 2015 and 2014 (in thousands of dollars): December 31, 2015 2014 Reconciliation of benefit obligation Benefit obligation at beginning of year $ 381,935 $ 360,185 Service cost 4,497 4,499 Interest cost 12,923 15,633 Contributions by plan participants 877 1,164 Actuarial (gain) loss (27,885 ) 33,568 Curtailment gain (17,895 ) — Benefits paid (10,745 ) (11,128 ) Foreign currency exchange rate changes (17,464 ) (21,986 ) Projected benefit obligation at end of year 326,243 381,935 Reconciliation of plan assets Fair value of plan assets at beginning of year 410,928 397,469 Actual return on plan assets 9,996 44,343 Employer contributions 2,163 2,740 Contributions by plan participants 877 1,164 Benefits paid (10,745 ) (11,128 ) Foreign currency exchange rate changes (20,117 ) (23,660 ) Fair value of plan assets at end of year 393,102 410,928 Funded Status Net pension asset $ 66,859 $ 28,993
Pension Benefit Plan	For the years ended December 31, 2015 , 2014 , and 2013 , the components of the net pension cost (benefit) related to the U.K. Pension Plan were (in thousands of dollars): 2015 2014 2013 Service cost $ 4,497 $ 4,499 $ 3,682 Interest cost 12,923 15,633 13,359 Expected return on plan assets (20,174 ) (23,166 ) (19,659 ) Amortization of actuarial loss 3,967 2,346 1,458 Amortization of prior service cost 364 — — Net pension cost (benefit) $ 1,577 $ (688 ) $ (1,160 )
Benefit Obligation And Net Pension Benefit	In 2015 , 2014 , and 2013 , the following assumptions were used in determining the benefit obligation and net pension cost (benefit) related to the U.K. Pension Plan: Benefit Obligation 2015 2014 Weighted average discount rate 3.7% 3.5% Weighted average rate of compensation increase —% 4.1% Net Pension Cost (Benefit) 2015 2014 2013 Weighted average discount rate 3.5% 4.4% 4.4% Weighted average rate of compensation increase 4.1% 4.6% 4.0% Weighted average expected long-term rate of return on plan assets 5.4% 6.1% 6.2%
Components Of Net Pension Benefits Related To U.K. Pension Plan Assets	The table below presents the fair value of U.K. Pension Plan assets, by investment category, as of December 31, 2015 and 2014 (in thousands of dollars): December 31, 2015 % of Total 2014 % of Total Growth assets $ 240,214 61.1 % $ 247,393 60.2 % Debt securities : Corporate 36,772 9.4 % 37,929 9.2 % Index-linked 112,049 28.5 % 120,507 29.3 % Total debt securities 148,821 37.9 % 158,436 38.6 % Real estate mutual funds 3,148 0.8 % 2,976 0.7 % Cash and cash equivalents 919 0.2 % 2,123 0.5 % Total fair value of plan assets $ 393,102 $ 410,928
Fair Value Measurement Information U.K. Pension Plan Assets	The table below provides fair value measurement information for the U.K. Pension Plan assets as of December 31, 2015 (in thousands of dollars): Fair Value Measurements Using: Total Fair Value Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Growth assets $ 240,214 $ 165,891 $ 74,323 $ — Debt securities: Corporate 36,772 12,023 24,749 — Index-linked 112,049 112,049 — — Total debt securities 148,821 124,072 24,749 — Real estate mutual funds 3,148 — 3,148 — Cash and cash equivalents 919 919 — — Total fair value of plan assets $ 393,102 $ 290,882 $ 102,220 $ —
Estimated Future Benefit Payments	Estimated future benefit payments related to the U.K. Pension Plan, which reflect expected future service, as appropriate, are as follows (in thousands of dollars): Year Benefit Payments 2016 $ 11,006 2017 $ 9,557 2018 $ 10,610 2019 $ 10,748 2020 $ 12,759 2021 to 2025 $ 69,460

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule Of Quarterly Results	First Quarter Second Quarter Third Quarter Fourth Quarter (In thousands, except per share data) Year Ended December 31, 2015 Net Auction Sales $ 755,817 $ 1,856,643 $ 370,928 $ 2,033,350 Income Statement Data: Revenues: Agency commissions and fees $ 127,882 $ 310,377 $ 69,222 $ 284,439 Inventory sales 12,983 7,005 53,226 35,485 Finance 12,687 11,970 12,933 12,899 License fees 1,974 2,468 2,539 2,839 Other 149 186 72 159 Total revenues $ 155,675 $ 332,006 $ 137,992 $ 335,821 Operating income (loss) $ 18,404 $ 116,458 $ (21,707 ) $ 88,566 Net income (loss) attributable to Sotheby's $ 5,202 $ 67,572 $ (17,894 ) $ (11,153 ) Per Share Amounts: Basic earnings (loss) per share - Sotheby's common shareholders $ 0.07 $ 0.97 $ (0.26 ) $ (0.17 ) Diluted earnings (loss) per share - Sotheby's common shareholders $ 0.07 $ 0.96 $ (0.26 ) $ (0.17 ) Shares Outstanding: Basic 69,090 69,332 67,946 66,118 Diluted 69,705 69,884 67,946 66,118 Year Ended December 31, 2014 Net Auction Sales $ 734,370 $ 1,971,338 $ 322,973 $ 2,122,738 Income Statement Data: Revenues: Agency commissions and fees $ 123,128 $ 316,187 $ 76,229 $ 309,582 Inventory sales 26,001 8,733 6,273 28,951 Finance 5,682 8,140 8,917 10,274 License fees 1,697 2,462 2,376 1,949 Other 303 295 406 468 Total revenues $ 156,811 $ 335,817 $ 94,201 $ 351,224 Operating income (loss) $ 4,091 $ 130,431 $ (37,469 ) $ 128,991 Net (loss) income attributable to Sotheby's $ (6,114 ) $ 77,632 $ (27,726 ) $ 74,003 Per Share Amounts: Basic (loss) earnings per share - Sotheby's common shareholders $ (0.09 ) $ 1.12 $ (0.40 ) $ 1.07 Diluted (loss) earnings per share - Sotheby's common shareholders $ (0.09 ) $ 1.11 $ (0.40 ) $ 1.06 Shares Outstanding: Basic 69,143 68,938 68,990 68,992 Diluted 69,143 69,491 68,990 69,707 __________________________________________________________________ 1 Net Auction Sales represents the hammer or sale price of property sold at auction.

Summary of Significant Accoun50

Summary of Significant Accounting Policies (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)segment	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Number of operating segments (in segment) | segment	2
Controlling ownership interest percentage by parent	80.00%
Noncontrolling ownership interest percentage	20.00%
Allowance for doubtful accounts receivable	$ 8.6	$ 7.3
Inventory Write-down	20.1	10	$ 8.8
Goodwill	13.6	14
Net book value of other intangible assets	0.3
Accumulated amortization related to other intangible assets	$ 5.1	$ 6.1
Building
Fixed assets useful life	50 years
Building Improvements
Fixed assets useful life	20 years
Furniture and Fixtures
Fixed assets useful life	7 years
Enterprise Systems | Minimum
Fixed assets useful life	7 years
Enterprise Systems | Maximum
Fixed assets useful life	10 years
Software
Fixed assets useful life	3 years

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share [Abstract]
Debt instrument stated interest percentage		3.125%
Potential common share excluded from computation of diluted earnings per share (shares)	0.9	1.1	1

Earnings Per Share (Computation

Earnings Per Share (Computation Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Jun. 11, 2008	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share [Abstract]
Net income attributable to Sotheby's		$ (11,153)	$ (17,894)	$ 67,572	$ 5,202	$ (27,726)	$ 77,632	$ (6,114)	$ 74,003	$ 43,727	$ 117,795	$ 130,006
Less: Net income attributable to participating securities										354	1,047	60
Net income attributable to Sotheby's common shareholders										$ 43,373	$ 116,748	$ 129,946
Weighted average common shares outstanding (shares)		66,118	67,946	69,332	69,090	68,990	68,938	69,143	68,992	68,121	69,016	68,374
Basic earnings per share - Sotheby's common shareholders		$ (0.17)	$ (0.26)	$ 0.97	$ 0.07	$ (0.40)	$ 1.12	$ (0.09)	$ 1.07	$ 0.64	$ 1.69	$ 1.90
Less: Net income attributable to participating securities										$ 354	$ 1,047	$ 60
Net income attributable to Sotheby's common shareholders										$ 43,373	$ 116,748	$ 129,946
Convertible debt (shares)										0	0	97
Performance share units (shares)										438	407	428
Deferred stock units (shares)										167	162	150
Stock options (shares)										18	21	77
Warrants (shares)	5,900									0		49
Weighted average dilutive potential common shares outstanding (shares)										623	590	801
Denominator for calculation of diluted earnings per share (shares)		66,118	67,946	69,884	69,705	68,990	69,491	69,143	69,707	68,744	69,606	69,175
Diluted earnings (loss) per share - Sotheby’s common shareholders (usd per share)		$ (0.17)	$ (0.26)	$ 0.96	$ 0.07	$ (0.40)	$ 1.11	$ (0.09)	$ 1.06	$ 0.63	$ 1.68	$ 1.88

Segment Reporting (Narrative) (

Segment Reporting (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)segment	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Segment Reporting Information [Line Items]
Number of operating segments (in segment) | segment	2
NMP's remaining inventory carrying value	$ 215,020	$ 217,132
Segment income (loss) before taxes	169,299	193,021	$ 185,693
Increase (Decrease) in Inventories	$ 18,828	59,475	83,237
Revenue from external customers as a percentage of total revenue	5.00%
Intercompany charges | Finance
Segment Reporting Information [Line Items]
Segment income (loss) before taxes		$ 2,100	$ 2,700

Segment Reporting (Schedule Of

Segment Reporting (Schedule Of Revenue And (Loss) Income Before Taxes by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting [Line Items]
Revenues	$ 335,821	$ 137,992	$ 332,006	$ 155,675	$ 94,201	$ 335,817	$ 156,811	$ 351,224	$ 961,494	$ 938,053	$ 853,678
Interest income									1,776	1,883	2,801
Interest expense									32,745	35,189	42,712
Depreciation and amortization									19,481	20,575	19,435
Segment income (loss) before taxes									169,299	193,021	185,693
Intersegment Eliminations [Member]
Segment Reporting [Line Items]
Revenues									(14,759)	(14,277)	(11,515)
Intersegment Eliminations [Member] | Agency
Segment Reporting [Line Items]
Revenues									7,800	5,300	1,600
Intersegment Eliminations [Member] | Finance
Segment Reporting [Line Items]
Segment income (loss) before taxes										2,100	2,700
Operating Segments
Segment Reporting [Line Items]
Revenues									976,253	952,330	865,193
Operating Segments | Agency
Segment Reporting [Line Items]
Revenues									892,030	885,293	799,886
Interest income									1,773	1,857	3,860
Interest expense									32,745	35,189	42,636
Depreciation and amortization									19,233	20,110	19,072
Segment income (loss) before taxes									139,942	182,763	164,348
Operating Segments | Finance
Segment Reporting [Line Items]
Revenues									65,248	47,290	32,792
Interest income									3	18
Interest expense											67
Depreciation and amortization									124	130	125
Segment income (loss) before taxes									41,303	31,763	23,009
Operating Segments | All Other
Segment Reporting [Line Items]
Revenues									18,975	19,747	32,515
Interest income										8	31
Interest expense										0	9
Depreciation and amortization									124	335	238
Segment income (loss) before taxes									10,864	7,424	(265)
Reconciling Items
Segment Reporting [Line Items]
Revenues									(14,759)	(14,277)	(11,515)
Interest income									0	0	(1,090)
Segment income (loss) before taxes									$ (22,810)	$ (28,929)	$ (1,399)

Segment Reporting (Schedule o55

Segment Reporting (Schedule of Auction Segment Revenues) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Agency commissions and fees	$ 284,439	$ 69,222	$ 310,377	$ 127,882	$ 76,229	$ 316,187	$ 123,128	$ 309,582	$ 791,920	$ 825,126	$ 793,639
Inventory sales	35,485	53,226	7,005	12,983	6,273	8,733	26,001	28,951	108,699	69,958	30,638
Revenues	$ 335,821	$ 137,992	$ 332,006	$ 155,675	$ 94,201	$ 335,817	$ 156,811	$ 351,224	961,494	938,053	853,678
Operating Segments
Segment Reporting Information [Line Items]
Revenues									976,253	952,330	865,193
Reconciling Items
Segment Reporting Information [Line Items]
Revenues									(14,759)	(14,277)	(11,515)
Agency | Operating Segments
Segment Reporting Information [Line Items]
Auction commissions									719,152	758,213	687,853
Private sale commissions									61,256	60,183	88,171
Auction guarantees (net)									(11,567)	(15,462)	(2,186)
Other Agency revenues									23,079	22,192	19,801
Agency commissions and fees									791,920	825,126	793,639
Inventory sales									100,110	60,167	6,247
Revenues									$ 892,030	$ 885,293	$ 799,886

Segment Reporting Segment Repor

Segment Reporting Segment Reporting (Reconciliation of Segment Revenues to Consolidated Revenues) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 335,821	$ 137,992	$ 332,006	$ 155,675	$ 94,201	$ 335,817	$ 156,811	$ 351,224	$ 961,494	$ 938,053	$ 853,678
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									976,253	952,330	865,193
Operating Segments | Agency
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									892,030	885,293	799,886
Operating Segments | Finance
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									65,248	47,290	32,792
Operating Segments | All Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									18,975	19,747	32,515
Intercompany charges
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									(14,759)	(14,277)	(11,515)
Intercompany charges | Agency
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									$ 7,800	$ 5,300	$ 1,600

Segment Reporting (Reconciliati

Segment Reporting (Reconciliation Of Segment (Loss) Income Before Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting [Line Items]
Special charges (net) (see Note 22)		$ 0	$ (20,008)	$ (1,372)
CEO separation and transition costs (see Note 20)	$ (4,200)	(4,232)	(7,591)	0
Equity in earnings of investees		(5,327)	(732)	(15)
Income before taxes		169,299	193,021	185,693
Corporate, Non-Segment [Member]
Segment Reporting [Line Items]
Severance Costs		(13,251)
Operating Segments
Segment Reporting [Line Items]
Segment (loss) income before taxes		192,109	221,950	187,092
Operating Segments | Agency
Segment Reporting [Line Items]
Segment (loss) income before taxes		139,942	182,763	164,348
Income before taxes		139,942	182,763	164,348
Operating Segments | Finance
Segment Reporting [Line Items]
Segment (loss) income before taxes		41,303	31,763	23,009
Income before taxes		41,303	31,763	23,009
Operating Segments | All Other
Segment Reporting [Line Items]
Segment (loss) income before taxes		10,864	7,424	(265)
Income before taxes		10,864	7,424	(265)
Reconciling Items
Segment Reporting [Line Items]
Special charges (net) (see Note 22)		0	20,008	1,372
CEO separation and transition costs (see Note 20)		(4,232)	(7,591)	0
Leadership transition severance costs		(13,251)	0	0
Equity in earnings of investees		(5,327)	1,330	(27)
Income before taxes		(22,810)	(28,929)	(1,399)
RM Auctions
Segment Reporting [Line Items]
Equity in earnings of investees		(2,500)
AMA
Segment Reporting [Line Items]
Equity in earnings of investees		$ (2,800)	(700)	$ 100
Acquavella Modern Art [Member]
Segment Reporting [Line Items]
Equity in earnings of investees			$ 1,300

Segment Reporting (Schedule o58

Segment Reporting (Schedule of Revenues by Geographic Region) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Agency commissions and fees	$ 335,821	$ 137,992	$ 332,006	$ 155,675	$ 94,201	$ 335,817	$ 156,811	$ 351,224	$ 961,494	$ 938,053	$ 853,678
Reconciling Items Member
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Agency commissions and fees									(14,759)	(14,277)	(11,515)
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Agency commissions and fees									463,129	402,385	353,474
United Kingdom (the U.K.)
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Agency commissions and fees									257,336	271,505	230,304
Hong Kong and China
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Agency commissions and fees									146,262	165,066	153,909
Switzerland
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Agency commissions and fees									50,134	46,226	41,150
France
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Agency commissions and fees									41,803	48,032	46,891
Other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Agency commissions and fees									$ 17,589	$ 19,116	$ 39,465

Segment Reporting (Reconcilia59

Segment Reporting (Reconciliation Of Segment Assets To Consolidated Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting [Line Items]
Assets	$ 3,274,129	$ 3,134,820	$ 2,893,546
Deferred tax assets and income tax receivable	16,913	55,280	67,905
Operating Segments
Segment Reporting [Line Items]
Assets	3,257,216	3,079,540	2,825,641
Operating Segments | Agency
Segment Reporting [Line Items]
Assets	2,510,257	2,391,763	2,314,356
Operating Segments | Finance
Segment Reporting [Line Items]
Assets	721,781	658,710	480,103
Operating Segments | All Other
Segment Reporting [Line Items]
Assets	$ 25,178	$ 29,067	$ 31,182

Receivables (Narrative) (Detail

Receivables (Narrative) (Details)	3 Months Ended	12 Months Ended
	Jun. 30, 2013USD ($)	Dec. 31, 2015USD ($)loan	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum buyer payment term		30 days
Consignor payment term		35 days
Buyer receivables classified within other long term assets		$ 24,300,000	$ 22,700,000
Net accounts receivable		$ 875,265,000	913,743,000
Number of types of secured loans (in loan) | loan		2
Number of years for consignor advance sale		1 year
Term loan, maturity		2 years
Balance of secured loan to refinance auction or private sale receivable		$ 108,800,000	90,400,000
Secured loan issued to refinance auction or private sale receivable		50,200,000	65,600,000
Collections of loans originally issued to refinance auction or private sale		$ 31,800,000	38,100,000
Loan-to-value ratio		50.00%
Loans past due		$ 11,819,000	22,409,000
Loans more than 90 days past due accruing interest		7,828,000	0
Non-accrual loans		0	0
Impaired loan		0	0
Unfunded lending commitment to extend additional credit		7,600,000
Equity method investment gain on disposal	$ 300,000
Equity interest sold	4,300,000
Proceeds from the sale of equity method investment		275,000	300,000	$ 1,225,000
Unsecured Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Equity interest sold	3,500,000
Proceeds from the sale of equity method investment	4,300,000
Up-front Payment Arrangement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from the sale of equity method investment	$ 800,000
All Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unsecured loan		$ 2,425,000	$ 2,700,000
Finance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan to Value (LTV) Ratio		60.00%
Loan-to-value ratio		49.00%	48.00%
Low auction estimate of collateral		$ 1,380,022,000	$ 1,349,094,000
Non-accrual loans		0	0
Impaired loan		0	0
Agency
Accounts, Notes, Loans and Financing Receivable [Line Items]
Low auction estimate of collateral		7,200,000	3,900,000
Auction guarantee advances outstanding		0	25,000,000
Unsecured loan		4,163,000	4,900,000
Agency | Non Accrual Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unsecured loan		2,100,000
Accounts Rec, Consignor Paid
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net accounts receivable		165,200,000	116,000,000
Transfer Of Possession Without Payment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net accounts receivable		$ 93,100,000	$ 96,500,000
Notes receivable past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan-to-value ratio		41.00%
Low auction estimate of collateral		$ 28,500,000
Loans greater than 90 days past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan-to-value ratio		46.00%
Low auction estimate of collateral		$ 16,900,000
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan to Value (LTV) Ratio		51.00%
Loan-to-value ratio		50.00%
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan to Value (LTV) Ratio		60.00%

Receivables Schedule of Notes R

Receivables Schedule of Notes Receivable by Segment (Details) - Finance - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consignor advances	$ 30,180	$ 25,994
Term loans	652,078	618,447
Total Finance segment Notes Receivable (net)	$ 682,258	$ 644,441

Receivables Schedule of Financi

Receivables Schedule of Financing Receivable Credit Quality Indicators (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Aggregate LTV ratio of Finance segment secured loans	50.00%
Loan To Value Ratio Above Fifty Percent
Financing Receivable, Recorded Investment [Line Items]
Finance segment secured loans	$ 354,049	$ 329,135
Low auction estimate of collateral	$ 626,829	$ 556,662
Aggregate LTV ratio of Finance segment secured loans	56.00%	59.00%
Finance
Financing Receivable, Recorded Investment [Line Items]
Finance segment secured loans	$ 682,258	$ 644,441
Low auction estimate of collateral	$ 1,380,022	$ 1,349,094
Aggregate LTV ratio of Finance segment secured loans	49.00%	48.00%

Receivables (Summary Of Other C

Receivables (Summary Of Other Credit Quality Information Regarding Finance Segment Secured Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounts and Notes Receivable, Net [Abstract]
Total secured loans	$ 682,258	$ 644,441
Loans past due	11,819	22,409
Loans more than 90 days past due	7,828	0
Non-accrual loans	0	0
Impaired loan	0	0
Allowance for credit losses - impaired loans	0	0
Allowance for credit losses based on historical data	1,458	1,166
Total Allowance for Credit Losses - secured loans	$ 1,458	$ 1,166	$ 1,746

Receivables (Activity Related T

Receivables (Activity Related To Allowance For Credit Losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, beginning balance	$ 1,166	$ 1,746
Change in loan loss provision	292	(580)
Allowance for credit losses, ending balance	$ 1,458	$ 1,166

Equity Method Investments (Deta

Equity Method Investments (Details) - USD ($) $ in Thousands	Feb. 18, 2015	May. 23, 1990	Jun. 30, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments				$ 30,725	$ 0	$ 0
Carrying value of the Matisse Inventory				41,400	44,800
Carrying value of the Sotheby's investment				41,744	10,210
Equity earnings				5,327	732	15
Proceeds from the sale of equity method investment				$ 275	300	1,225
Equity method investment gain on disposal			$ 300
Equity interest sold			4,300
Unsecured Loan
Schedule of Equity Method Investments [Line Items]
Proceeds from the sale of equity method investment			4,300
Equity interest sold			3,500
Up-front Payment Arrangement
Schedule of Equity Method Investments [Line Items]
Proceeds from the sale of equity method investment			$ 800
AMA
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments		$ 153,000
Inventory exchange rate of interest in partnership				50.00%
Period of AMA partnership agreement				10 years
Carrying value of the Sotheby's investment				$ 8,500	10,200
Equity earnings				2,800	$ 700	$ (100)
RM Auctions
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments	$ 30,700
Inventory exchange rate of interest in partnership	25.00%
Carrying value of the Sotheby's investment				33,200
Equity earnings				$ 2,500

Fixed Assets Fixed Assets (Deta

Fixed Assets Fixed Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Land	$ 93,078	$ 93,353
Buildings and building improvements	226,530	226,465
Leasehold improvements	82,011	83,643
Computer hardware and software	73,728	71,422
Furniture, fixtures and equipment	78,529	78,182
Construction in progress	2,090	1,401
Other	2,015	1,176
Sub-total	557,981	555,642
Less: Accumulated depreciation and amortization	(203,487)	(191,260)
Total Fixed Assets, net	354,494	364,382
Depreciation and amortization	19,481	20,575	$ 19,435
Fixed Assets
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 19,500	$ 20,600	$ 19,400

Debt (Revolving Credit Facility

Debt (Revolving Credit Facility) (Details) - USD ($)	12 Months Ended		76 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Mar. 01, 2016	Sep. 30, 2015	Sep. 16, 2015	Mar. 31, 2015
Debt [Line Items]
Maximum borrowing capacity	$ 1,335,000,000	$ 850,000,000	$ 1,335,000,000
Borrowing base	$ 773,228,000	757,085,000	773,228,000
Incremental Facility extension period	365 days
Maximum net outstanding auction guarantees permitted	$ 800,000,000		800,000,000			$ 800,000,000
Covenants for issuing dividends, minimum aggregate borrowing availability	100,000,000		100,000,000
Covenants for issuing dividends, minimum total liquidity amount	200,000,000		200,000,000
Amortization of fees	4,472,000	3,229,000
Forecast
Debt [Line Items]
Maximum net outstanding auction guarantees permitted				$ 600,000,000
New Credit Agreement
Debt [Line Items]
Maximum borrowing capacity	1,335,000,000		1,335,000,000				$ 850,000,000
Increase in borrowing capacity, credit facility	485,000,000
Line of credit, sub limit	400,000,000		400,000,000
Maximum increase in borrowing capacity	150,000,000		150,000,000
Aggregate fees paid			21,400,000
Incremental Credit Facility
Debt [Line Items]
Borrowing base	50,000,000		50,000,000
Agency Segment Credit Agreement
Debt [Line Items]
Maximum borrowing capacity	300,000,000	300,000,000	300,000,000
Borrowing base	225,642,000	237,830,000	225,642,000
Line of credit, sub limit					$ 50,000,000
Amortization of fees	2,752,000	2,240,000
Finance Segment Credit Agreement
Debt [Line Items]
Maximum borrowing capacity	1,035,000,000	550,000,000	1,035,000,000
Borrowing base	547,586,000	519,255,000	547,586,000
Line of credit, sub limit	350,000,000		$ 350,000,000
Amortization of fees	$ 1,720,000	$ 989,000
Weighted average cost of borrowings (as a percent)	2.90%	2.90%

Debt (Schedule of Line of Credi

Debt (Schedule of Line of Credit Facilities) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 1,335,000,000	$ 850,000,000
Borrowing base	773,228,000	757,085,000
Credit facility borrowings	541,500,000	445,000,000
Available borrowing capacity	231,728,000	312,085,000
Average borrowings outstanding	541,004,000	306,448,000
Borrowing Costs - interest	14,060,000	7,751,000
Borrowing Costs - fee amortization	4,472,000	3,229,000
Agency Segment Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity	300,000,000	300,000,000
Borrowing base	225,642,000	237,830,000
Credit facility borrowings	0	0
Available borrowing capacity	225,642,000	237,830,000
Average borrowings outstanding	0	0
Borrowing Costs - interest	0	0
Borrowing Costs - fee amortization	2,752,000	2,240,000
Finance Segment Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity	1,035,000,000	550,000,000
Borrowing base	547,586,000	519,255,000
Credit facility borrowings	541,500,000	445,000,000
Available borrowing capacity	6,086,000	74,255,000
Average borrowings outstanding	541,004,000	306,448,000
Borrowing Costs - interest	14,060,000	7,751,000
Borrowing Costs - fee amortization	$ 1,720,000	$ 989,000

Debt (Summary Of Long-Term Debt

Debt (Summary Of Long-Term Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Debt [Line Items]
Total Long-Term Debt, net	$ 614,767	$ 300,000
York Property Mortgage
Debt [Line Items]
Convertible notes, net of discount	322,069	218,728
Less current portion	(7,302)	(218,728)
Unamortized discount	0	1,782
Senior Notes
Debt [Line Items]
Convertible notes, net of discount	$ 300,000	$ 300,000

Debt (York Property Mortgage) (

Debt (York Property Mortgage) (Details)	Jul. 01, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Feb. 06, 2009USD ($)	Jan. 11, 2008USD ($)
Debt [Line Items]
Interest paid		$ 53,500,000	$ 42,400,000	$ 33,200,000
Debt instrument stated interest percentage			3.125%
York Property Mortgage
Debt [Line Items]
Final amount to be repaid on maturity date		$ 268,200,000
Minimum | York Property Mortgage
Debt [Line Items]
Debt instrument stated interest percentage		5.60%
Maximum | York Property Mortgage
Debt [Line Items]
Debt instrument stated interest percentage		10.60%
Mortgages | New Mortgage Loan
Debt [Line Items]
Debt term	7 years
Principal amount	$ 325,000,000
Net cash proceeds from debt	$ 98,000,000
Amortization period	25 years
Derivative contract term	7 years
Maximum Loan-To-Value ratio under agreement (as a percent)	0.65
Cash Segregated under Other Regulations	$ 6,000,000
Minimum debt yield under agreement (as a percent)	8.50%
Minimum net worth under agreement	$ 425,000,000
Mortgages | New Mortgage Loan | Swap
Debt [Line Items]
Derivative contract term	2 years
Annual interest rate (as a percent)	0.877%	0.877%
Effective interest rate (as a percent)	3.127%
Mortgages | New Mortgage Loan | Collar
Debt [Line Items]
Derivative contract term	5 years
Mortgages | New Mortgage Loan | LIBOR
Debt [Line Items]
Basis spread on variable rate (as a percent)	2.25%
Mortgages | Minimum | New Mortgage Loan | Collar
Debt [Line Items]
Annual interest rate (as a percent)	1.917%
Effective interest rate (as a percent)	4.167%
Mortgages | Maximum | New Mortgage Loan | Collar
Debt [Line Items]
Annual interest rate (as a percent)	3.75%
Effective interest rate (as a percent)	6.00%
Purchase Consummated On February 6, 2009
Debt [Line Items]
Property acquisition price					$ 370,000,000
Components of purchase price of land and buildings					85,000,000
Signing Of Related Purchase And Sale Agreement On January 11, 2008
Debt [Line Items]
Components of purchase price of land and buildings						$ 50,000,000
Assumption Of Existing Mortgage
Debt [Line Items]
Components of purchase price of land and buildings					$ 235,000,000

Debt (2022 Senior Notes) (Detai

Debt (2022 Senior Notes) (Details) - USD ($)	Sep. 28, 2012	Jun. 17, 2008	Dec. 31, 2015	Dec. 31, 2014	Nov. 23, 2012	Sep. 27, 2012
Debt [Line Items]
Debt instrument stated interest percentage				3.125%
Senior Notes
Debt [Line Items]
Unsecured debt retired					$ 80,000,000
2022 Senior Notes
Debt [Line Items]
Principal amount						$ 300,000,000
Debt instrument stated interest percentage						5.25%
Debt instrument maturity date			Oct. 1, 2022
Net proceeds from issuance of long term debt	$ 300,000,000
Percentage of senior notes principal as part of redemption price	100.00%
Percentage of principal amount debt as component of premium price	1.00%
Fair value			$ 276,000,000
Convertible Notes
Debt [Line Items]
Principal amount		$ 200,000,000
Debt instrument maturity date			Jun. 15, 2013
Stated interest rate of convertible debt		3.125%

Debt (Convertible Notes) (Detai

Debt (Convertible Notes) (Details) - USD ($)	Jun. 17, 2008	Jun. 11, 2008	Jun. 30, 2013	Aug. 31, 2011	Jun. 30, 2011	Jun. 14, 2013	Mar. 31, 2013	Sep. 30, 2011	Jun. 30, 2011	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Debt [Line Items]
Conversion per principal value of convertible notes	$ 1,000
Conversion requests on debt										$ 0	$ 0	$ 197,371,000
Conversion of principal						$ 181,900,000
Liability for conversion of debt							$ 21,800,000		$ 8,200,000
Liability for conversion of debt, net of tax							$ 12,000,000		$ 5,400,000
Proceeds from the settlement of Convertible Note Hedges		$ (40,600,000)	$ (15,500,000)	$ 4,400,000						$ 0	$ 0	$ 15,503,000
Convertible Notes
Debt [Line Items]
Principal amount	$ 200,000,000
Stated interest rate of convertible debt	3.125%
Debt instrument maturity date										Jun. 15, 2013
Net proceeds from convertible notes	$ 194,300,000
Convertible notes conversion ratio	29.5920
Convertible notes conversion price (usd per share)	$ 33.79
Convertible notes payable	$ 161,800,000
Estimated debt rate	7.75%
Reclassification to equity	$ 38,200,000
Equity component of convertible debt, net of tax	$ 21,000,000
Conversion requests on debt					$ 22,500,000	197,400,000
Conversion of principal					18,100,000
Conversion premium on debt					$ 4,400,000	$ 15,500,000
Write off of deferred debt issuance cost								$ 1,500,000

Debt (Convertible Note Hedges a

Debt (Convertible Note Hedges and Warrant Transactions) (Details) $ / shares in Units, $ in Thousands	Jun. 11, 2008USD ($)warrant$ / sharesshares	Jun. 30, 2013USD ($)	Aug. 31, 2011USD ($)	Jun. 30, 2011USD ($)	Dec. 31, 2013shares	Jun. 14, 2013USD ($)	Dec. 31, 2015USD ($)shares	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)shares	Jul. 01, 2015	Mar. 31, 2013USD ($)
Debt [Line Items]
Payments for (proceeds from) Convertible Notes Hedging Instrument	$ 40,600	$ 15,500	$ (4,400)				$ 0	$ 0	$ (15,503)
Carrying value of convertible note hedge recorded in equity, net of taxes											$ 12,000
Conversion requests of principal						$ 181,900
Convertible note hedge reclassification				$ 8,200
Convertible note hedge reclassification net of taxes				5,300
Reclassification of Convertible Note Hedges to Other Current Assets											$ 21,800
Incremental common shares attributable to call options and warrants (shares) | shares	5,900,000						0		49,000
Warrant exercise price (usd per share) | $ / shares	$ 44.50
Net proceeds from sale of warrant	$ 22,300
Maximum warrant daily exercise limit (in shares) | warrant	118,348
Trading window for warrant exercises	50 days
Shares issued during period to settle warrants (in shares) | shares					722,288
Convertible Note Hedge And Warrant Transactions
Debt [Line Items]
Carrying value of convertible note hedge recorded in equity, net of taxes	$ 22,500
Convertible Notes
Debt [Line Items]
Conversion requests of principal				$ 18,100
Swap | New Mortgage Loan | Mortgages
Debt [Line Items]
Effective interest rate (as a percent)										3.127%

Debt (Aggregate Future Principa

Debt (Aggregate Future Principal And Interest Payments) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Debt Instruments [Abstract]
2,016	$ 33,186
2,017	34,925
2,018	36,587
2,019	36,598
2,020	$ 578,108

Debt (Components Of Interest Ex

Debt (Components Of Interest Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Debt [Line Items]
Amortization of fees	$ 4,472	$ 3,229
Amortization of amendment and arrangement fees	1,167	1,096	$ 1,279
Commitment fees	1,585	1,144	1,532
Sub-total	2,752	2,240	2,811
Interest expense	32,745	35,189	42,712
Other interest expense	62	220	101
York Property Mortgage
Debt [Line Items]
Interest expense	13,537	16,335	16,512
Senior Notes
Debt [Line Items]
Interest expense	16,394	16,394	16,394
Convertible Notes
Debt [Line Items]
Interest expense	$ 0	$ 0	6,894
Convertible Notes
Debt [Line Items]
Amortization of fees			$ 477

Debt (Interest Expenses) (Detai

Debt (Interest Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Debt Conversion [Line Items]
Discount amortization	$ 1,782	$ 3,564	$ 7,361
Amortization of fees	4,472	3,229
Interest paid	53,500	42,400	33,200
New Mortgage Loan
Debt Conversion [Line Items]
Interest paid	7,100
Agency Segment Credit Agreement
Debt Conversion [Line Items]
Amortization of fees	2,752	2,240
Interest paid	36,000	31,200
Finance Segment Credit Agreement
Debt Conversion [Line Items]
Amortization of fees	1,720	989
Interest paid	$ 17,500	$ 11,200
Convertible Notes
Debt Conversion [Line Items]
Contractual coupon interest expense			2,621
Discount amortization			3,796
Amortization of fees			477
Contractual coupon interest expense			$ 6,894

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Mar. 17, 2014	Jan. 31, 2014	Dec. 31, 2015	Jun. 30, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Deferred tax assets, foreign and state loss and tax credit carryforwards			$ 2,900		$ 2,900
Valuation allowance			2,437		$ 2,437	$ 2,224
Decrease in valuation allowance							$ 10,000
Effective income tax rate					77.50%	39.20%	30.00%
Net income tax benefit deduction foreign subsidiary				$ 6,800
Income tax expense from enacted legislation					$ 4,000	$ 3,900
Income tax expense (benefit)					(131,145)	(75,761)	$ (55,702)
Undistributed foreign earnings intended for indefinite reinvestment outside the U.S.			400,000		400,000
Net income tax payments					53,900	60,300	36,200
Repatriation Impact on Income Statement
Income tax expense (benefit)			$ (65,700)				$ (8,700)
U.S Taxes Accrued on Foreign Earnings Income Statement
Income tax expense (benefit)					$ (14,200)	$ (18,600)
Special Dividend [Member]
Dividends, Common Stock		$ 300,000
All Countries [Domain]
Foreign Earnings Repatriated	$ 250,000

Income Taxes (Summary Of Signif

Income Taxes (Summary Of Significant Components Of Income Tax Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income before taxes:
Domestic	$ 11,414	$ 21,976	$ 45,093
Foreign	157,885	171,045	140,600
Income before taxes	169,299	193,021	185,693
Income tax expense—current:
Domestic	10,455	22,220	8,131
State and local	5,958	6,946	8,301
Foreign	33,043	37,762	29,602
Sub-total	49,456	66,928	46,034
Income tax expense (benefit)—deferred:
Domestic	69,835	5,406	2,543
State and local	6,378	6,314	(241)
Foreign	5,476	(2,887)	7,366
Sub-total	81,689	8,833	9,668
Income tax expense, Total	$ 131,145	$ 75,761	$ 55,702

Income Taxes (Summary Of Compon

Income Taxes (Summary Of Components Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred Tax Assets:
Asset provisions and liabilities	$ 13,720	$ 10,452
Inventory writedowns	10,621	8,756
Tax loss and credit carryforwards	2,887	2,748
Difference between book and tax basis of depreciable and amortizable assets	17,857	18,737
Share-based payments and deferred compensation	34,165	36,494
Sub-total	79,250	77,187
Valuation allowance	(2,437)	(2,224)
Total deferred tax assets	76,813	74,963
Deferred Tax Liabilities:
Difference between book and tax basis of other assets and liabilities	2,361	3,323
Pension obligations	11,231	3,921
Basis differences in equity method investments	3,805	3,884
Undistributed earnings of foreign subsidiaries	91,924	16,432
Total deferred tax liabilities	109,321	27,560
Total net deferred tax liabilities	$ (32,508)
Total net deferred tax assets		$ 47,403

Income Taxes (Summary Of Effect

Income Taxes (Summary Of Effective Income Tax Rate) (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	35.00%	35.00%	35.00%
State and local taxes, net of federal tax benefit	2.30%	2.50%	2.80%
Foreign taxes at rates different from U.S. rates	(14.90%)	(13.50%)	(11.10%)
Tax effect of undistributed earnings of foreign subsidiaries	48.20%	9.60%	11.00%
Deemed income from foreign subsidiaries, net	2.30%	3.00%	2.20%
Valuation allowance	0.30%	(0.20%)	(4.50%)
Effect of enacted tax legislation	2.50%	2.00%	0.10%
Worthless stock deduction	(0.00%)	(0.00%)	(3.70%)
Other	1.80%	0.80%	(1.80%)
Effective income tax rate	77.50%	39.20%	30.00%

Uncertain Tax Positions (Narrat

Uncertain Tax Positions (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Uncertainties [Abstract]
Unrecognized tax benefits	$ 22,042	$ 22,798	$ 25,423	$ 35,400
Unrecognized tax benefits that would impact effective tax rate	12,800	12,300
Unrecognized tax benefits, income tax and interest penalties (benefits)	0	200	200
Unrecognized tax benefits, income tax penalties and interest accrued	1,800	$ 1,800	$ 1,600
Decrease in unrecognized tax benefits within 12 months	$ 5,100

Uncertain Tax Positions (Reconc

Uncertain Tax Positions (Reconciliation Of Beginning And Ending Balances Of Liability For Unrecognized Tax Benefits, Excluding Interest And Penalties) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1	$ 22,798	$ 25,423	$ 35,400
Increases in unrecognized tax benefits related to the current year	2,917	2,229	8,999
Increases in unrecognized tax benefits related to prior years	2,276	167	9
Decreases in unrecognized tax benefits related to prior years	(1,973)	(134)	(16,651)
Decreases in unrecognized tax benefits related to settlements	(437)	(590)	(555)
Decreases in unrecognized tax benefits due to the lapse of the applicable statute of limitations	(3,539)	(4,297)	(1,779)
Balance at December 31	$ 22,042	$ 22,798	$ 25,423

Lease Commitments (Narrative) (

Lease Commitments (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Leases, Operating [Abstract]
Rental expense under operating leases	$ 17.5	$ 18.2	$ 17.8
Future minimum sublease rental receipts	$ 1.9

Lease Commitments (Schedule Of

Lease Commitments (Schedule Of Future Minimum Rental Payments For Operating Leases) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Leases [Abstract]
2,016	$ 17,288
2,017	13,730
2,018	6,718
2,019	5,983
2,020	5,539
Thereafter	34,705
Total future minimum lease payments	$ 83,963

Shareholders' Equity and Divi85

Shareholders' Equity and Dividends (Details) - USD ($)	Jan. 21, 2016	Aug. 13, 2015	Aug. 06, 2015	Mar. 17, 2014	Feb. 25, 2016	Nov. 30, 2015	Mar. 31, 2015	Mar. 31, 2014	Jan. 31, 2014	Dec. 31, 2012	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015
Common stock, par value (usd per share)											$ 0.01	$ 0.01	$ 0.01		$ 0.01
Preferred stock, shares authorized (in shares)											50,000,000	50,000,000			50,000,000
Preferred stock, shares outstanding (in shares)											0	0	0	0	0
Accelerated dividend declared										$ 13,600,000
Accelerated dividend declared (usd per share)										$ 0.20
Dividends declared (usd per share)												$ 0.4	$ 4.74	$ 0.2
Share-based compensation based on special dividends															$ 11,000,000
Cash dividend equivalents paid on share-based payments							$ 2,000,000	$ 3,781,000				$ 279,000	$ 3,781,000		5,800,000
Stock repurchase program, period in force									5 years
Stock repurchase program, authorized amount			$ 250,000,000						$ 150,000,000		$ 125,000,000	$ 125,000,000			$ 125,000,000
Stock repurchased during period, shares												558,171
Stock repurchased during period, value												$ 25,000,000
Share price of stock repurchased (usd per share)												$ 44.79
Increase in share repurchase authorization			$ 125,000,000
Treasury stock acquired (in shares)		2,667,378				3,705,658					1,038,280
Initial purchase price		$ 125,000,000
Value of stock acquired		$ 100,000,000
Cost per share of stock acquired (usd per share)		$ 37.49										$ 33.73
Subsequent Event
Stock repurchase program, authorized amount	$ 325,000,000
Increase in share repurchase authorization	$ 200,000,000
Treasury stock acquired (in shares)					3,998,381
Value of stock acquired					$ 90,900,000
Cost per share of stock acquired (usd per share)					$ 22.74
All Countries [Domain]
Foreign earnings repatriated				$ 250,000,000
Dividend Declared
Dividends declared (usd per share)											$ 0.10
Special Dividend [Member]
Dividends declared (usd per share)									$ 4.34
Dividends, common stock									$ 300,000,000
Funding of dividend by domestic cash				$ 50,000,000

Shareholders' Equity and Divi86

Shareholders' Equity and Dividends (Schedule of Quarterly Dividends Declared and Paid) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Dividends Payable [Line Items]
Dividends declared (usd per share)	$ 0.4	$ 4.74	$ 0.2
Quarterly Dividend
Dividends Payable [Line Items]
Dividends declared (usd per share)	$ 0.40	$ 0.40	$ 0.2
Dividends, common stock	$ 27,107	$ 27,636	$ 13,754

Share-Based Payments (Narrative

Share-Based Payments (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 09, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Excess tax benefits related to share-based payment arrangements			$ 1,064	$ 3,625	$ 3,521
Unrecognized compensation expense related to the unvested portion of share-based payments			$ 26,300
Compensation expense is expected to be amortized over a weighted-average period			2 years 4 months 24 days
Granted (shares)			973,000
Maximum percentage of performance shares that could be earned		350.00%
Stock options, expiration term			10 years
Options exercisable (shares)			50,000
Aggregate intrinsic value of option exercised				1,200	3,500
Stock options exercised (in shares)			0
Granted (stock options)			0
Proceeds from exercise of employee stock options			$ 0	967	4,049
Excess tax benefit from exercise of stock options				300	700
New CEO 2015 Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of stock granted during period		$ 16,500
Sotheby S Incentive Compensation Programs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of stock granted during period			$ 29,300
Mr Ruprecht September2010 Employment Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)			79,782
Fair value of stock granted during period			$ 3,500
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)			384,664
Fair value of stock granted during period			$ 16,900
Performance Shares | New CEO 2015 Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)		94,140
Award service period			5 years
Fair value of stock granted during period		$ 8,000
Performance Shares | Sotheby S Incentive Compensation Programs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)			304,882
Fair value of stock granted during period			$ 13,400
Performance Shares | Mr Ruprecht September2010 Employment Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)			19,673
Fair value of stock granted during period			$ 900
Shares forfeited in period (shares)			60,109
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			4 years
Performance Shares | Maximum | New CEO 2015 Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)		329,490
Restricted Stock | New CEO 2015 Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)		158,638
Award service period		5 years
Fair value of stock granted during period		$ 6,500
Equity Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			4 years
Shares available for future awards (shares)			104,100
Options outstanding (shares)			50,000
Options outstanding, weighted average exercise price (usd per share)			$ 22.11
Options outstanding, weighted-average remaining contractual term			4 years 1 month 6 days
Options outstanding, aggregate intrinsic value			$ 200
Restricted Stock Units (RSUs) | New CEO 2015 Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)		47,070
Fair value of stock granted during period		$ 2,000
Restricted Stock Units (RSUs) | Sotheby S Incentive Compensation Programs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Granted (shares)			289,065
Fair value of stock granted during period			$ 12,400
Restricted Stock Restricted Stock Unit And Performance Share Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future awards (shares)			3,200,000
Fair value of share vested			$ 22,900	$ 28,100	$ 26,900
Subsequent Event | Sotheby S Incentive Compensation Programs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of stock granted during period	$ 22,500
Subsequent Event | Sotheby S Incentive Compensation Programs | Single vesting opportunity after three years of service
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)	480,945
Fair value of stock granted during period	$ 11,300
Subsequent Event | Mr Ruprecht September2010 Employment Agreement | Single vesting opportunity after three years of service
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)	123,352
Fair value of stock granted during period	$ 2,900
Subsequent Event | Performance Shares | Single vesting opportunity after three years of service
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Granted (shares)	604,297
Fair value of stock granted during period	$ 14,200
Subsequent Event | Performance Shares | Maximum | Single vesting opportunity after three years of service
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)	1,208,594
Maximum vesting percentage for incremental PSU's	200.00%
Subsequent Event | Restricted Stock Units (RSUs) | Sotheby S Incentive Compensation Programs | Annual vesting over three years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Granted (shares)	352,914
Fair value of stock granted during period	$ 8,300

Share-Based Payments (Compensat

Share-Based Payments (Compensation Expense Related To Share-Based Payments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Compensation Expense Related to Share-Based Payments
Share-based payment expense (pre-tax)	$ 33,700	$ 27,061	$ 22,350
Total share-based payment expense (after-tax)	22,992	17,683	15,299
Salaries and related costs
Compensation Expense Related to Share-Based Payments
Share-based payment expense (pre-tax)	28,632	23,470	22,350
CEO separation and transition costs (see Note 20)
Compensation Expense Related to Share-Based Payments
Share-based payment expense (pre-tax)	2,000	3,591	0
Voluntary separation incentive programs | Voluntary separation incentive programs (see Note 19)
Compensation Expense Related to Share-Based Payments
Share-based payment expense (pre-tax)	$ 3,068	$ 0	$ 0

Share-Based Payments (Changes I

Share-Based Payments (Changes In Number Of Outstanding Restricted Stock, RSU's And PSU's) (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2015$ / sharesshares
Restricted Stock Shares, RSU's and PSU's
Outstanding beginning balance, Shares | shares	1,806
Granted, Shares | shares	973
Vested, Shares | shares	(549)
Canceled, Shares | shares	(211)
Outstanding ending balance, Shares | shares	2,019
Weighted Average Grant Date Fair Value
Outstanding beginning balance (usd per share) | $ / shares	$ 40.32
Granted (usd per share) | $ / shares	47.02
Vested (usd per share) | $ / shares	39.31
Canceled (usd per share) | $ / shares	41.63
Outstanding ending balance (usd per share) | $ / shares	$ 43.61

Accumulated Other Comprehensi90

Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	$ (76,766)	$ (39,453)	$ (50,375)
Other comprehensive income (loss) before reclassifications	(22,848)	(31,461)	13,874
Net unrecognized loss	29,363	(9,787)	(4,065)
Amounts reclassified from accumulated other comprehensive loss	4,047	3,935	1,113
Total other comprehensive income (loss)	10,562	(37,313)	10,922
Balance at end of period	(66,204)	(76,766)	(39,453)
Foreign Currency Items
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	(33,223)	(1,352)	(16,084)
Other comprehensive income (loss) before reclassifications	(18,951)	(33,929)	14,732
Net unrecognized loss	0	0	0
Amounts reclassified from accumulated other comprehensive loss	(105)	2,058	0
Total other comprehensive income (loss)	(19,056)	(31,871)	14,732
Balance at end of period	(52,279)	(33,223)	(1,352)
Defined Benefit Pension Items
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	(43,543)	(38,101)	(34,291)
Other comprehensive income (loss) before reclassifications	1,097	2,468	(858)
Net unrecognized loss	29,363	(9,787)	(4,065)
Amounts reclassified from accumulated other comprehensive loss	3,464	1,877	1,113
Total other comprehensive income (loss)	33,924	(5,442)	(3,810)
Balance at end of period	(9,619)	(43,543)	(38,101)
Derivative Financial Instruments
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	0	0	0
Other comprehensive income (loss) before reclassifications	(4,994)	0	0
Net unrecognized loss	0	0	0
Amounts reclassified from accumulated other comprehensive loss	688	0	0
Total other comprehensive income (loss)	(4,306)	0	0
Balance at end of period	$ (4,306)	$ 0	$ 0

Commitments And Contingencies (

Commitments And Contingencies (Details) $ in Millions	Dec. 31, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
Commitment for salaries and other cash compensation under employment arrangement	$ 14.5

Pension Arrangements (Narrative

Pension Arrangements (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Death benefit recognized	$ (1,453)	$ 283	$ 3,029
Curtailment gain	17,895
Net unrecognized loss	$ 29,363	$ (9,787)	(4,065)
Threshold for recognizing net actuarial gains (losses)	10.00%
Expected remaining service lives	12 years 4 months 24 days
Market value of plan assets changes period	5 years
Expected contributions to U.K. pension plan	$ 1,900
Growth assets
Defined Benefit Plan Disclosure [Line Items]
Target allocation of plan assets (as a percent)	50.00%	60.00%
Debt securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation of plan assets (as a percent)	50.00%	40.00%
Foreign Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Curtailment gain	$ 17,895	$ 0
Accumulated benefit obligation	325,800	367,200
Accumulated Other Comprehensive Loss, net of taxes not yet recognized	(10,000)	(44,000)
Employer contributions	$ 2,163	2,740
Plan for U.S. Employees | Retirement Savings Plan
Defined Benefit Plan Disclosure [Line Items]
Maximum annual contributions, percentage	50.00%
Accrued discretionary contribution	$ 1,300	$ 1,300	$ 1,200
Accrued discretionary contribution, percentage	2.00%	2.00%	2.00%
Contribution expense related to matching and discretionary contributions	$ 2,400	$ 2,400	$ 2,300
Plan for U.S. Employees | Retirement Savings Plan | Post May 2009
Defined Benefit Plan Disclosure [Line Items]
Employer matching, percentage	3.00%
Plan for U.S. Employees | Retirement Savings Plan | Minimum
Defined Benefit Plan Disclosure [Line Items]
Pre-tax compensation, percentage	2.00%
Plan for U.S. Employees | Deferred Compensation Plan
Defined Benefit Plan Disclosure [Line Items]
Accrued discretionary contribution	$ 300	400	400
Accrued discretionary contribution, percentage	2.00%
Contribution expense related to matching and discretionary contributions	$ 800	900	900
DCP Liability	39,000	49,600
Gains (losses) in deemed participant investments	(500)	1,900	5,100
Net gains (losses) related to COLI and mutual fund investments	(2,700)	300	3,700
Death benefit recognized	$ 1,600
Foreign Postretirement Benefit Plan [Member] | U.K. Defined Contribution Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Accrued discretionary contribution, percentage	2.00%
Contribution expense related to matching and discretionary contributions	$ 3,100	$ 2,200	$ 1,300
Accrued discretionary employer contribution	$ 700

Pension Arrangements (Assets He

Pension Arrangements (Assets Held In Rabbi Trust) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Assets held in rabbi trust	$ 37,843	$ 50,490
Company-owned variable life insurance
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Assets held in rabbi trust	37,155	45,895
Mutual fund investments
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Assets held in rabbi trust	$ 688	$ 4,595

Pension Arrangements (Change In

Pension Arrangements (Change In Benefit Obligation, Change In Fair Value Of Plan Assets, Funded Status And Amounts Recognized In Consolidated Balance Sheets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Curtailment gain	$ (17,895)
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	410,928
Fair value of plan assets at end of year	393,102	$ 410,928
Foreign Pension Plan [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	381,935	360,185
Service cost	4,497	4,499	$ 3,682
Interest cost	12,923	15,633	13,359
Contributions by plan participants	877	1,164
Actuarial loss (gain)	(27,885)	33,568
Curtailment gain	(17,895)	0
Benefits paid	(10,745)	(11,128)
Foreign currency exchange rate changes	(17,464)	(21,986)
Benefit obligation at end of year	326,243	381,935	360,185
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	410,928	397,469
Actual return on plan assets	9,996	44,343
Employer contributions	2,163	2,740
Contributions by plan participants	877	1,164
Benefits paid	(10,745)	(11,128)
Foreign currency exchange rate changes	(20,117)	(23,660)
Fair value of plan assets at end of year	393,102	410,928	$ 397,469
Net pension asset recognized	$ 66,859	$ 28,993

Pension Arrangements (Component

Pension Arrangements (Components Of Net Pension Benefits Related To U.K. Pension Plan Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Net pension benefit	$ 1,577	$ (688)	$ (1,160)
Foreign Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	4,497	4,499	3,682
Interest cost	12,923	15,633	13,359
Expected return on plan assets	(20,174)	(23,166)	(19,659)
Amortization of actuarial loss	3,967	2,346	1,458
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	364	0	0
Net pension benefit	$ 1,577	$ (688)	$ (1,160)

Pension Arrangements (Benefit O

Pension Arrangements (Benefit Obligation And Net Pension Benefit) (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Benefit Obligation, Weighted average discount rate	3.70%	3.50%
Benefit Obligation, Weighted average rate of compensation increase	0.00%	4.10%
Net Pension Benefit, Weighted average discount rate	3.50%	4.40%	4.40%
Net Pension Benefit, Weighted average rate of compensation increase	4.10%	4.60%	4.00%
Net Pension Benefit, Weighted average expected long-term rate of return on plan assets	5.40%	6.10%	6.20%

Pension Arrangements (Compone97

Pension Arrangements (Components Of U.K. Pension Plan Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Assets held in rabbi trust	$ 37,843	$ 50,490
Total fair value of plan assets	393,102	410,928
Growth assets
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	$ 240,214	$ 247,393
Total debt securities, % of total	61.10%	60.20%
Debt securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	$ 148,821	$ 158,436
Total debt securities, % of total	37.90%	38.60%
Debt securities | Corporate [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	$ 36,772	$ 37,929
Total debt securities, % of total	9.40%	9.20%
Debt securities | Index-Linked [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	$ 112,049	$ 120,507
Total debt securities, % of total	28.50%	29.30%
Real estate mutual funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	$ 3,148	$ 2,976
Total debt securities, % of total	0.80%	0.70%
Cash and cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	$ 919	$ 2,123
Total debt securities, % of total	0.20%	0.50%

Pension Arrangements (Fair Valu

Pension Arrangements (Fair Value Measurement Information U.K. Pension Plan Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	$ 393,102	$ 410,928
Quoted Pricesin Active Markets (Level 1) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	290,882
Significant Other Observable Inputs (Level 2) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	102,220
Significant Unobservable Inputs (Level 3) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	0
Growth assets
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	240,214	247,393
Growth assets | Quoted Pricesin Active Markets (Level 1) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	165,891
Growth assets | Significant Other Observable Inputs (Level 2) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	74,323
Growth assets | Significant Unobservable Inputs (Level 3) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	0
Debt securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	148,821	158,436
Debt securities | Quoted Pricesin Active Markets (Level 1) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	124,072
Debt securities | Significant Other Observable Inputs (Level 2) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	24,749
Debt securities | Significant Unobservable Inputs (Level 3) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	0
Debt securities | Corporate [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	36,772	37,929
Debt securities | Corporate [Member] | Quoted Pricesin Active Markets (Level 1) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	12,023
Debt securities | Corporate [Member] | Significant Other Observable Inputs (Level 2) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	24,749
Debt securities | Corporate [Member] | Significant Unobservable Inputs (Level 3) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	0
Debt securities | Index-Linked [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	112,049	120,507
Debt securities | Index-Linked [Member] | Quoted Pricesin Active Markets (Level 1) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	112,049
Debt securities | Index-Linked [Member] | Significant Other Observable Inputs (Level 2) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	0
Debt securities | Index-Linked [Member] | Significant Unobservable Inputs (Level 3) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	0
Real estate mutual funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	3,148	2,976
Real estate mutual funds | Quoted Pricesin Active Markets (Level 1) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	0
Real estate mutual funds | Significant Other Observable Inputs (Level 2) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	3,148
Real estate mutual funds | Significant Unobservable Inputs (Level 3) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	0
Cash and cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	919	$ 2,123
Cash and cash equivalents | Quoted Pricesin Active Markets (Level 1) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	919
Cash and cash equivalents | Significant Other Observable Inputs (Level 2) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	0
Cash and cash equivalents | Significant Unobservable Inputs (Level 3) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of plan assets	$ 0

Pension Arrangements (Estimated

Pension Arrangements (Estimated Future Benefit Payments) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
2,015	$ 11,006
2,016	9,557
2,017	10,610
2,018	10,748
2,019	12,759
2020 to 2024	$ 69,460

Auction Guarantees (Details)

Auction Guarantees (Details) - USD ($)	Mar. 01, 2016	Feb. 24, 2016	Dec. 31, 2015	Sep. 30, 2015	Sep. 16, 2015	Sep. 02, 2015	Dec. 31, 2014
Maximum net outstanding auction guarantees permitted			$ 800,000,000		$ 800,000,000
Outstanding guarantee maximum exposure			62,100,000
Irrevocable bids			28,700,000
Estimated fair value of obligation to perform under auction guarantees			1,000,000				$ 5,300,000
Subsequent Event
Outstanding guarantee maximum exposure		$ 59,700,000
Fair value auction guarantee | A. Alfred Taubman
Outstanding guarantee maximum exposure			$ 33,300,000	$ 509,000,000		$ 509,000,000
Fair value auction guarantee | A. Alfred Taubman | Subsequent Event
Outstanding guarantee maximum exposure		$ 3,400,000
Forecast
Maximum net outstanding auction guarantees permitted	$ 600,000,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended								6 Months Ended	12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Feb. 24, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Sep. 02, 2015
Related Party Transactions [Abstract]
Auction commission revenues										$ 2,700,000	$ 3,100,000	$ 4,800,000
Related Party Transaction [Line Items]
Outstanding guarantee maximum exposure	$ 62,100,000									62,100,000
Net Auction Sales	2,033,350,000	$ 370,928,000	$ 1,856,643,000	$ 755,817,000	$ 322,973,000	$ 1,971,338,000	$ 734,370,000	$ 2,122,738,000
Increase (Decrease) in Inventories										18,828,000	$ 59,475,000	$ 83,237,000
Subsequent Event
Related Party Transaction [Line Items]
Outstanding guarantee maximum exposure									$ 59,700,000
Director
Related Party Transaction [Line Items]
Estimated aggregate proceeds of future auction sales	3,000,000									3,000,000
Projected loss on guarantee	3,000,000									3,000,000
Due to related parties	285,400,000									285,400,000
Director | Subsequent Event
Related Party Transaction [Line Items]
Net Auction Sales									470,000,000
Increase (Decrease) in Inventories									33,000,000
Due to consignors									221,700,000
Director | Fair value auction guarantee
Related Party Transaction [Line Items]
Outstanding guarantee maximum exposure	$ 33,300,000	$ 509,000,000								$ 33,300,000			$ 509,000,000
Director | Fair value auction guarantee | Subsequent Event
Related Party Transaction [Line Items]
Outstanding guarantee maximum exposure									$ 3,400,000

Derivative Financial Instrum102

Derivative Financial Instruments (Details) - USD ($)	Jul. 01, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative [Line Items]
Notional value of derivatives		$ 64,400,000
Change in fair value recognized in Other Comprehensive Loss, net of tax		(4,994,000)	$ 0	$ 0
Amount reclassified to Interest Expense		(688,000)	0	$ 0
Swap
Derivative [Line Items]
Fair value recorded in Other Current Liabilities		400,000
Change in fair value recognized in Other Comprehensive Loss, net of tax		800,000
Amount reclassified to Interest Expense		700,000
Collar
Derivative [Line Items]
Notional value of derivatives		310,300,000
Change in fair value recognized in Other Comprehensive Loss, net of tax		4,200,000
Fair value recorded in Other Long-Term Liabilities		6,800,000
York Property Mortgage
Derivative [Line Items]
Carrying amount of debt		$ 322,069,000	$ 218,728,000
2015 York Property Mortgage Loan | Mortgages
Derivative [Line Items]
Debt term	7 years
Principal amount	$ 325,000,000
Amortization period	25 years
Derivative contract term	7 years
2015 York Property Mortgage Loan | Mortgages | Swap
Derivative [Line Items]
Derivative contract term	2 years
Effective interest rate (as a percent)	3.127%
Annual interest rate (as a percent)	0.877%	0.877%
2015 York Property Mortgage Loan | Mortgages | Collar
Derivative [Line Items]
Derivative contract term	5 years
2015 York Property Mortgage Loan | Mortgages | Collar | Minimum
Derivative [Line Items]
Effective interest rate (as a percent)	4.167%
Annual interest rate (as a percent)	1.917%
2015 York Property Mortgage Loan | Mortgages | Collar | Maximum
Derivative [Line Items]
Effective interest rate (as a percent)	6.00%
Annual interest rate (as a percent)	3.75%
2015 York Property Mortgage Loan | Mortgages | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	2.25%

Voluntary Separation Incenti103

Voluntary Separation Incentive Programs (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2015USD ($)employee	Dec. 31, 2016	Dec. 31, 2015USD ($)employee	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Restructuring Cost and Reserve [Line Items]
Total number of employees | employee	1,600		1,600
Voluntary separation incentive programs
Restructuring Cost and Reserve [Line Items]
Severance charges	$ 36,938		$ 36,938	$ 0	$ 0
Voluntary separation incentive programs | Forecast
Restructuring Cost and Reserve [Line Items]
Expected percent headcount reduction		5.00%
Voluntary separation incentive programs | Employee severance
Restructuring Cost and Reserve [Line Items]
Severance charges	33,800
Voluntary separation incentive programs | Employee severance | Accrued Salaries and Related Costs
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	33,800		33,800
Voluntary separation incentive programs | Incentive compensation earned | Accrued Salaries and Related Costs
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	4,700		$ 4,700
Voluntary separation incentive programs | Accelerated equity compensation expense
Restructuring Cost and Reserve [Line Items]
Severance charges	$ 3,100

CEO Separation and Transitio104

CEO Separation and Transition Costs (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation-related costs	$ 4,200		$ 4,232	$ 7,591	$ 0
Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation-related costs		$ 7,600	3,100
Severance costs		4,000
Share-based payment accelerated recognition		$ 3,600
Fair value of fully-vested restricted stock unit award			2,000
Compensation			1,100
Recruitment and other professional fees			$ 1,100

Restructuring Charges (Net) (De

Restructuring Charges (Net) (Details) - 2014 Restructuring plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net	$ (972)	$ 14,238	$ 0
Employee severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net		13,900
Lease Exit Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net		$ 300

Special Charges (Net) (Details)

Special Charges (Net) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Special Charges [Abstract]
Special charges, net	$ 0	$ 20,008	$ 1,372
Insurance recoveries		4,600
Expected reimbursement		$ 10,000

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event $ in Millions	Jan. 11, 2016USD ($)
Subsequent Event [Line Items]
Initial cash consideration	$ 50
Maximum earn-out payments	$ 35

Quarterly Results (Unaudited108

Quarterly Results (Unaudited) (Schedule Of Quarterly Results) (Details) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended									12 Months Ended
	Dec. 31, 2015USD ($)principal_selling_season$ / sharesshares	Sep. 30, 2015USD ($)$ / sharesshares	Jun. 30, 2015USD ($)$ / sharesshares	Mar. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)$ / sharesshares	Jun. 30, 2014USD ($)$ / sharesshares	Mar. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013USD ($)$ / sharesshares	Dec. 31, 2015USD ($)principal_selling_season$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013USD ($)$ / sharesshares
Quarterly Financial Information Disclosure [Abstract]
Number of principal selling seasons | principal_selling_season	2									2
Q2 and Q4 Net Auction Sales as Percentage of Total Net Auction Sales										78.00%	79.00%
Auction Commission Revenues as Percentage of Total Revenues										75.00%	81.00%
Net Auction Sales	$ 2,033,350	$ 370,928	$ 1,856,643	$ 755,817		$ 322,973	$ 1,971,338	$ 734,370	$ 2,122,738
Agency commissions and fees	284,439	69,222	310,377	127,882		76,229	316,187	123,128	309,582	$ 791,920	$ 825,126	$ 793,639
Inventory sales	35,485	53,226	7,005	12,983		6,273	8,733	26,001	28,951	108,699	69,958	30,638
Finance	12,899	12,933	11,970	12,687		8,917	8,140	5,682	10,274	50,489	33,013	21,277
License fees	2,839	2,539	2,468	1,974		2,376	2,462	1,697	1,949	9,820	8,484	6,902
Other	159	72	186	149		406	295	303	468	566	1,472	1,222
Revenues	335,821	137,992	332,006	155,675		94,201	335,817	156,811	351,224	961,494	938,053	853,678
Operating income (loss)	88,566	(21,707)	116,458	18,404	$ 128,991	(37,469)	130,431	4,091		201,721	226,044	222,575
Net (loss) income attributable to Sotheby's	$ (11,153)	$ (17,894)	$ 67,572	$ 5,202		$ (27,726)	$ 77,632	$ (6,114)	$ 74,003	$ 43,727	$ 117,795	$ 130,006
Basic earnings (loss) per share - Sotheby’s common shareholders (usd per share) | $ / shares	$ (0.17)	$ (0.26)	$ 0.97	$ 0.07		$ (0.40)	$ 1.12	$ (0.09)	$ 1.07	$ 0.64	$ 1.69	$ 1.90
Diluted earnings (loss) per share - Sotheby’s common shareholders (usd per share) | $ / shares	$ (0.17)	$ (0.26)	$ 0.96	$ 0.07		$ (0.40)	$ 1.11	$ (0.09)	$ 1.06	$ 0.63	$ 1.68	$ 1.88
Weighted average basic shares outstanding (shares) | shares	66,118	67,946	69,332	69,090		68,990	68,938	69,143	68,992	68,121	69,016	68,374
Weighted average diluted shares outstanding (shares) | shares	66,118	67,946	69,884	69,705		68,990	69,491	69,143	69,707	68,744	69,606	69,175

Valuation And Qualifying Accoun

Valuation And Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Receivables [Member]
Valuation reserve deducted in the balance sheet from the asset to which it applies:
Balance at Beginning of Period	$ 8,484	$ 8,685	$ 7,969
Charged to Costs and Expenses	2,607	1,893	1,444
Charged to Other Accounts	0	0	0
Deductions	992	2,094	728
Balance at End of Period	10,099	8,484	8,685
Deferred Tax Assets [Member]
Valuation reserve deducted in the balance sheet from the asset to which it applies:
Balance at Beginning of Period	2,224	3,227	10,235
Charged to Costs and Expenses	461	29	1,735
Charged to Other Accounts	0	0	66
Deductions	248	1,032	8,809
Balance at End of Period	$ 2,437	$ 2,224	$ 3,227