Sotheby's is a renowned multinational corporation that specializes in the auctioning of fine art, jewelry, antiques, and collectibles. Established in 1744, it is one of the oldest and most prestigious auction houses in the world. With its headquarters in New York City, Sotheby's operates in over 40 countries and holds auctions in major cities such as London, Hong Kong, Paris, and Geneva.
The company was founded by Samuel Baker, a London bookseller, who held the first-ever auction under the name "Baker and Leigh" in 1744. Over the years, the business evolved and expanded, attracting prominent clients and establishing a reputation for handling high-quality items. In 1804, Baker's nephew, John Sotheby, joined the firm, and it was renamed Sotheby and Son. This marked the beginning of the Sotheby's legacy that continues to this day.
Sotheby's has played a significant role in the art market, setting numerous records and facilitating the sale of some of the world's most valuable artworks. The company has auctioned iconic pieces by renowned artists such as Vincent van Gogh, Pablo Picasso, and Claude Monet. Notable sales include the record-breaking auction of Edvard Munch's "The Scream" in 2012, which sold for over $119 million, making it one of the most expensive artworks ever sold at auction.
Apart from fine art, Sotheby's also specializes in the auctioning of rare and valuable items from various categories. These include jewelry, watches, wine, books, manuscripts, furniture, and decorative arts. The company's expertise extends to Asian art, with dedicated auctions featuring Chinese ceramics, Japanese prints, and Indian sculptures, among others. Sotheby's has become a trusted platform for collectors, investors, and enthusiasts to acquire and sell unique and valuable items.
In addition to its auction services, Sotheby's offers private sales, art advisory, and appraisal services. The company's specialists provide expert advice to clients, helping them navigate the art market and make informed decisions. Sotheby's also organizes exhibitions and events worldwide, showcasing exceptional artworks and attracting a global audience of art enthusiasts.
Over the years, Sotheby's has expanded its reach through strategic acquisitions and partnerships. In 2000, the company acquired the prestigious London-based auction house, Phillips, Son & Neale, further strengthening its presence in the European market. Sotheby's has also collaborated with various institutions and organizations, including museums, foundations, and charities, to host special auctions and fundraising events.
Sotheby's commitment to innovation is evident in its embrace of technology and digital platforms. The company has developed online bidding capabilities, allowing clients to participate in auctions remotely. Sotheby's also launched its own digital marketplace, Sotheby's Home, which specializes in the sale of vintage and designer furniture and decor.
In recent years, Sotheby's has faced challenges and changes in ownership. In 2019, the company was acquired by BidFair USA, an art investment firm owned by Patrick Drahi. This acquisition marked a new chapter for Sotheby's, as it became a private company after being publicly traded for over three decades.
Despite the changes, Sotheby's remains a symbol of excellence and expertise in the art world. With its rich history, global presence, and commitment to innovation, the company continues to shape the art market and connect collectors with extraordinary works of art and valuable objects.
