In the first six months of 2007, Sotheby’s auction house earned more than in any full year in its history, according to Sotheby’s CEO Bill Ruprecht, who recently announced the firm’s second-quarter 2007 results. Sales for the first half of 2007 totaled $2.9 billion, up an impressive 44 percent from the same period in 2006. Sotheby’s income was $131.7 million, up 92 percent, a record, on record revenues of $486.9 million, up 41 percent. The house sold the highest priced lot of the period as well, Mark Rothko’s White Center (1950), which went for $72.8 million. Two months ago, Christie’s announced total sales of $3.25 billion for the first half of 2007, putting it in the lead -- though Sotheby’s notes that its totals "approximate those of competitor, despite 50 percent less lot volume at Sotheby’s, a strategic decision."Sotheby’s also announced that it had sold 391 lots for over $1 million in the first half of the year, apparently trumping Christie’s figure of 358 lots. Christie’s quickly sent out a release noting that its $1-million lots numbered 430, if the auction-house premium is included. Competition lives in the auction business, or so it seems.The good results led Sotheby’s to increase its stock dividend as well, raising its annual dividend rate from 40 cents a share to 60 cents, or 50 percent. Sotheby’s stock reached a high of almost $54 a share in July, and more recently has been trading in the 40s.On a more morbid note, Sotheby’s also made a $20-million gain from its "key man" life insurance policy on the Dutch art dealer Robert Noortman, who died in January. Noortman had sold his gallery to Sotheby’s in a $56-million deal in 2006.