Sotheby’s (BID) — the auction house whose stock is infamous for timing major market peaks and troughs — is back up. In fact, it’s now above its pre-Lehman levels! The threshold was crossed during this recent up-spurt.
If you’re unfamiliar with Sotheby’s and its connection to bubbles, this nice multi-year chart is a nice introduction.
Photo: Yahoo! Finance
As you can see, we’ve still got a long way to go before pre-Bear levels.