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  "docSlug": "c6a949b90946",
  "documentTitle": "Sotheby's (BID)",
  "authorId": "07_Marcato",
  "authorName": "Marcato Capital Management",
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  "presentationDate": "2014-04-22 00:00:00",
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  "notes": "The slide uses a dual-axis chart to highlight the disconnect between revenue and profit, a classic 'expose contradiction' tactic in activist investor presentations.",
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      "kind": "chart",
      "text": "Aggregate Auction Sales vs. Auction EBIT ($Ms)",
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      "text": "Auction EBIT",
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      "kind": "source-note",
      "text": "Source: Company 10Ks.",
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      "kind": "title",
      "text": "Record Art Market Has Not Translated Into Record Profits",
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