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Restructuring Charges
12 Months Ended
Dec. 31, 2014
Restructuring and Related Activities [Abstract]  
Restructuring Charges
Restructuring Charges
On July 16, 2014, Sotheby's Board of Directors approved a restructuring plan (the "2014 Restructuring Plan") principally impacting Sotheby's operations in the United States and the U.K. The 2014 Restructuring Plan has resulted in Restructuring Charges (net) of approximately $14.2 million recognized in 2014, consisting of $13.9 million in employee termination benefits recognized in the second half of 2014 and approximately $0.3 million in lease exit costs recognized in the fourth quarter. A large majority of the headcount reductions resulting from the 2014 Restructuring Plan have been completed and the remainder will occur by June 30, 2015. As of December 31, 2014, Sotheby's has made payments of approximately $4.5 million related to the 2014 Restructuring Plan, and the accrued liability was reduced by $0.7 million as a result of foreign currency exchange rate changes. Accordingly, as of December 31, 2014, the remaining accrued liability related to the 2014 Restructuring Plan was $9 million, which is recorded on the Consolidated Balance Sheets within Accounts Payable and Accrued Liabilities. This liability is expected to be settled through cash payments to be made principally in the first half of 2015.