The economic depression has also affected the art market. Sotheby's auctioneers, quoted in New York, published a loss of $34.5 million in its first quarter results, which is more than the analysts had predicted ($12.4 million deficit a year ago). Its turnover fell by 58% to $54.4 million. Sotheby's stated, however, that given the seasonal nature of its business, it never has big sales figures during the first and third quarters. Due to the worsening economic situation, Sotheby's, has increased the estimated savings it hopes to make this year from $100 to $160 million, with a subsequent 20% jobs cut. (I.L./transl.rh)