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Related Party Transactions
12 Months Ended
Dec. 31, 2014
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, 2014, 2013, and 2012, Sotheby’s recognized Agency Revenues of $3.1 million, $4.8 million, and $10 million, respectively, related to property consigned or purchased by related parties.
As of December 31, 2014 and 2013, Accounts Receivable (net) included $1.1 million and $2.7 million, respectively, associated with auction or private sale purchases made by related parties and an affiliate of a related party. The related party receivable balance outstanding as of December 31, 2014 was collected in the first quarter of 2015.
As of December 31, 2014, Sotheby's owed $0.5 million to related party consignors for sales conducted in the fourth quarter of 2014.