1) What it does: Sotheby’s runs high-end auctions and private sales of fine art, luxury items, and collectibles for global collectors and investors. 2) How its products work: It holds live and online auctions where items are sold to the highest bidder, and also facilitates private sales directly between sellers and buyers. Revenue comes from commissions on final sale prices and service fees such as appraisals; it also provides online estimates to help sellers gauge value. 3) How it’s different: It combines a global auction network with discreet private sales, strong appraisal expertise, and curated collections, allowing access to both broad, open bidding and private, personalized transactions. 4) Goal: To connect sellers with buyers in the high-end market, maximizing value for items and delivering trusted, expert valuation and sales services for rare and valuable possessions.
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
New York City, New York
Founded
1744
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