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Sotheby's

Sotheby's
Company typePrivate
IndustryFine arts, rare objects
Founded11 March 1744 (1744-03-11) in London, England
FounderSamuel Baker
Headquarters1334 York Avenue[1],
New York City
,
U.S.
Number of locations
80 locations in 40 countries (as of 2021)[2]
Area served
Worldwide
Key people
Charles F. Stewart (CEO)
ServicesAuctions, financial services
OwnerPatrick Drahi
SubsidiariesSotheby's Institute of Art, Sotheby's International Realty, RM Sotheby's
Websitewww.sothebys.com

Sotheby's (/ˈsʌðəbiz/ SUDH-ə-beez) is a British-founded multinational corporation with headquarters in New York City. It is one of the world's largest brokers of fine and decorative art, jewellery, and collectibles. It has 80 locations in 40 countries, and maintains a significant presence in the UK.[2]

Sotheby's was established on 11 March 1744 in London by Samuel Baker, a bookseller.[5] In 1767 the firm became Baker & Leigh, after George Leigh became a partner, and was renamed to Leigh and Sotheby in 1778 after Baker's death when Leigh's nephew, John Sotheby, inherited Leigh's share. Other former names include: Leigh, Sotheby and Wilkinson;[6] Sotheby, Wilkinson and Hodge (1864–1924); Sotheby and Company (1924–83);[7] Mssrs Sotheby; Sotheby & Wilkinson; Sotheby Mak van Waay; and Sotheby's & Co.[6]

The American holding company was initially incorporated in August 1983 in Michigan as Sotheby's Holdings, Inc. In June 2006, it was reincorporated in the State of Delaware and was renamed Sotheby's.[8] In June 2019, Sotheby's was acquired by French-Israeli businessman Patrick Drahi at a 61% market premium.[9][10]

Sotheby's Institute of Art (an educational facility), Sotheby's International Realty (real estate dealers), and RM Sotheby's (classic car dealers) are subsidiaries or partner organisations.[11]

  1. ^ "Sothebys Contact Info". Business Insider. Retrieved 22 May 2013.
  2. ^ a b Cite error: The named reference location was invoked but never defined (see the help page).
  3. ^ a b c d Sotheby's Form 10-K, Securities and Exchange Commission, 27 February 2017
  4. ^ "United States Securities and Exchange Commission Form 10-K" (PDF). Sotheby's 2018 Annual Report. Sotheby's (Report). 2018. p. 8.
  5. ^ "Sotheby's". Encyclopedia Britannica. Retrieved 21 September 2023.
  6. ^ a b "Collections Online". British Museum. 1 August 2019. Retrieved 25 April 2021.
  7. ^ Cite error: The named reference :6 was invoked but never defined (see the help page).
  8. ^ Sotheby's (BID) Stock Description (Report). Seeking Alpha a. Archived from the original on 4 March 2012. Retrieved 20 March 2012.
  9. ^ "Sotheby's to Be Sold, Jolting the Art World". The Wall Street Journal. 17 June 2019. ISSN 0099-9660. Retrieved 17 June 2019.
  10. ^ "Sotheby's Shareholders Overwhelmingly Approve the Company's $3.7 Billion Acquisition by French Media Mogul Patrick Drahi". Artnet News. 5 September 2019. Retrieved 17 November 2019.
  11. ^ "[Home page]". Sotheby's. Retrieved 24 April 2021.

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