sothebys is not perfect. christy's is not consider.o you set yourself up to some degree for a level of criticism that may be justified because it is impossible to be perfect. >> i agree it is impossible to be perfect but we strive to be perfect every day. and that the team's intention every single day and their actions and by the way -- and our consumers tell us we are the safest place to shop on the internet and that is what we do every day. >> so let's go back to notion of a copywriter and authenticator why is there a difference? if you're training people, they're either copywriter or authenticator. i'm confused there was discussion in the piece about how some authenticators chanel versus fendi and some got authenticators and to me it is a bit of a jumble. >> no, it is not the copywriter title is a throwback to when we first started. and by the way, let me say, that is going to go away because we're automating copywriting using machine learning so by first quarter the majority of things will be written by a machine. so the title sort

i didn't know jules went on world tours but these next ones did prior to this week's auction at sotheby'sin geneva. james striking colombian pieces with a 970 s. and one bracelet in particular which is stealing the show. sapphire flanked by diamonds available to anyone with a spare $2.00 to $3000000.00 in their pockets the bracelets is the crown jewel if you will of a collection of art deco gems that will go under the hammer at the bees auction in geneva this these 2927 and we have in the seated nada splendid do what they are. created the exactly at the same time $927.00. can be different in style and design also vying for attention is this emerald and diamond necklace which was once owned by princess sally ma. so the bees representatives did not hold back in expounding the virtues of its origins. the finest rules in the world come from colombia. and particularly from the area the size of the blues of mine. and these are all these rules are typical of that there are production this rich greene these are particularly clearly in the absent of floors the apparently flawless pieces in the col

jamie ritchie was the sotheby's aug's near that day. >> if you have 40 powers from the bottle, you can give fourth people the greatest whiskey ever made. it's fun. >> reporter: i want to be at that guy's house christmas. cheer. >> cheers. >> reporter: old spirits are indeed rising for day. at smuggler's cove in san francisco, there a s a private vintage rum club. >> thank you, sir. >> reporter: at the office, a high end speakeasy in manhattan, mark dipasquale can make you a preprohibition martini using vermouth from 1906 and gin from the turn of the century. how much does that go for? >> $600. >> reporter: $600? >> yeah. the gin is really cool. the vermouth is really interesting. to me the most interesting part of the martini is right there. >> reporter: that's the martini's bitter, dating from 1896, or before. >> if you take a sip of it and coat your mouth with it, it just -- it has a life to it that modern spirits don't. >> reporter: which is why some go to any length to find these bottled treasures. >> with bottles packed in straw. >> reporter: last month, divers in the baltic sea h

. >> you think the sotheby's deal, personal purchase, what, you're smiling. >> i think he stole it >>o? >> i think he did. i mean, in the sense that he ends up with it, it cost him very little. the way he structured it. >> why do you say that >> it has been explained to me how, why it was worth. >> what did he pay, four bills >> three and a half, yeah. my understanding is there's a lot of real estate, a lot of receivables, there was a lot of overhead and when he is done with it, he will own it for free he's a very smart guy. >> interesting there on sotheby's, unexpected place the conversation went. speaking of rich guys a lot of people are smart, masa is one we talk about given that softbank is under pressure, i talked to mr. malone about masa. >> i like masa, putting the numbers about. he has a balance sheet nobody can understand so, you know, he's had some home runs, no question. >> he has. difficult, more difficult times for softbank >> yeah. he took some big rides some of them are not performing for him, you know, at the moment but those are cycles. >> you think so? >> i don't kno

if there is a star wars fan on your gift list, sotheby's is holding an election for -- holding an auctionollectibles for the release of "star wars: the rise of skywa lker." they include action figures from the original truly as well as rare items. prices range as high as 78 thousand dollars. that is your business flash update. from new york and london, this is bloomberg. ♪ ♪ romaine: from new york, i'm romaine bostick. guy: from london, i'm guy johnson. welcome to "bloomberg markets." futures in focus. let's go to the cme and talk to bob iaccino, past trading partners. in the last half-hour, crude coming under a lot of pressure. what is driving it? bob: there's been a lot of conversation as to whether crude has gone up to the top of the range of 2019. it was driven by some optimism from the trade talks we had up until this past day or so. or was it more that the opec meeting was going to produce another production cut? i maintain it is the demand side, and crude oil seems to be acting that way. we are not getting any sort of rhetoric out of this december 5 opec meeting that they are going

[laughter] sotheby's in new york auctioned off these four watercolor sketches. they are extremely rare, surviving, eyewitness works of art from the revolutionary war. the depict scenes from perspective of a light infantry officer during the philadelphia campaign, that also have service in new york. on the back of these sketches, there is also written in scription's and -- written inscriptions. the inscription at the bottom here, it says "my triumphant entry into philadelphia." intoe there being carted philadelphia probably an officer, surrounded by other british troops, but he has a head wound. on the backside of the sketch is a written inscription of the battle of germantown. germantownead wound, , there is a guy being carted .ff the battlefield in the painting, that is richard st. george. are these richard st. george's cartoons that he did that hunter mentioned in his journal? indeed they are. these are the four surviving caricatures that st. george did during the revolutionary war while he was on campaign in america. they came up randomly for auction but they

that. 30 to 40 million for ed ruscha up for auction christy's has one that could fetch 45 million sotheby's 35 million. art experts blame weakness on sellers that don't want to let go of major works at these prices, also slowing growth overseas, trouble in hong kong, brexit, political noise in the u.s. and removal of a tax loophole, 1031 exchanges that allowed collectors to sell paintings and trade up without paying capital gains taxes that loophole is gone so they have to pay the tax when they sell over the longer term, art is still performing okay. they have another blue over red that hammered for 5.6 million in 2005 estimated to sell this week for over 25 million. pretty good return for that. sales start today and run through friday guys, back to you. >> if elizabeth warren has a wealth tax, are they basing it on the last sales of the art collection >> doing unrealized captain gains for art will be tricky with an illiquid market. some of that rhetoric is going to dampen the confidence of people holding up a paddle, bidding 30, $40 million for a piece of art, coupled with of course mainly

settled for more than $600,000 at auction, more than six times the expected price it went for sale at sotheby'suction house in paris an art expert says the copy was probably painted a hundred years after the original that's a lot of money for a copy and you know what, they still don't know why she's smiling morgan >> you said it last week, 100,000 was a lot for this copy. >> yeah. >> $600,000. >> that's quite a bit of money right here you don't even know who painted it, you just know it wasn't the original painter >> with an iphonexr, take a little photo of the original and that's for free. >> you don't have to stare at it with all the crowds, i guess >> there's that. >> contessa brewer, thank you! >>> we've got less than 30 minutes left to go here. here are the three things that are driving the action today president trump threatens higher tariffs if china does not make a trade deal retails getting crushed. and while that might be a red flag for the u.s. consumer, housing data rebounded with building permits at their highest level in 12 years. today marks one week from the launch of disney plu

selling pictures on the street for 20 quid -- [ applause ] -- to seeing one of your pictures go to sotheby'syour hard work's paid off. absolute carnage. do i go to bed thinking about it, no. i just want to get better. >> so good. it's amazing. look at your face -- perfect. >> sort of a genius strategy. you only release a certain number, and then never print those photos again. so only a certain number stay in circulation. that's why they're so valuable. >> love those. absolutely magnificent. >> supply and demand. >>> coming up, we'll ride the railsn a trip back in time. you're watching "cbs this morning saturday." ouope people e away? >> whatever they bring to it. i think as an artist, i don't know if it's my job to give people answers. it's my job to ask questions and show us ourselves so we can sort of come to terms when who we are as a society. >> you're a director and someone you worked with before in "the master of none," molina matsukas. she's called this a protest film. is that something you it would use? >> i think of it as protest art. nina simone said it's an other artist's duty to

that was twice that amount over the longer term, art is still performing very well sotheby's has a markis week for over $25 million so still better than the overall stock market >> when we say down 20% year over year, i mean, is that a fair direct comparison you could just have fewer paintings up for sale or less valuable paintings >> good question there are actually more paintings up for sale. over 2,000 this year the price per painting is down and the number of paintings is up and it's mainly because we don't have two or three big whopo, big headliners like we have in previous quarters. this is the first time since 2009 that we haven't had a painting priced at $50 million or more. so it's a big jump but really at the very top, it could be an okay market for everything else. >> so you can't read too much more into this it's really about the specific pieces of art themselves >> yes, but many people say that very top end is a sign of confidence people around the world are willing to spend, doesn't matter how much for those top trophies and you're just not seeing it right now. >> zl read

god no >> sothebys has that issue with wine i'd know if it was boons farm. mb 2020. thank you.at report coming up, getting ready for the trading day ahead. plus a run down of today's biggest movers we have a greater look at yesterday's winners and losers servicenow put our workflows in the cloud. this changes everything. you're right sir... everything. no not everything, i mean you're still blatantly sucking up to me gary. brilliantly observed, sir. always three steps ahead. six steps ahead. sixteen. so many steps. you done? a million steps ahead. servicenow. works for you. high protein. low sugar. tastes great! high protein. low sugar. so good! high protein. low sugar. mmmm, birthday cake! pure protein. the best combination for every fitness routine. >> good morning. welcome back to "squawk box. take a look at futures new highs. the s&p 500 and dow indicated higher the dow up about by 40 points. the s&p by about 20. we'll get enter national trade data and later this morning, we'll get services pmi and the september jolts report on the earnings front today, we'll hear from tape