Sotheby's CEO William Ruprecht, via UVM

Bloomberg’s Philip Boroff has dug into Sotheby’s SEC filings, reporting that that CEO William Ruprecht’s voluntary $100,000 pay cut has been restored. Read Boroff’s story on Bloomberg here.

Ruprecht took a pay cut in May 2009 on the heels of plunging auction revenues, according to Boroff. His salary has been restored to $700,000, plus other benefits.

The CEO’s pay rose following a period of drastic cost cuts which helped Sotheby’s post a $73.6 million profit in the fourth quarter of 2009. The company fired twenty percent of employees and mostly eliminated the use of guarantees to win consignments.

Ruprecht earned $6.4 million in total compensation in 2008, according to Boroff. In 2007, as the art market was peaking, he was awarded $10.3 million in salary, perks and benefits, according to Boroff.

Sotheby’s shares have risen 40 percent this year, says Boroff.