Sotheby's

Sotheby's ranks among the world's largest brokers of fine and decorative art, jewelry, and collectibles. Founded in London on March 11, 1744, by bookseller Samuel Baker, the company has evolved over nearly three centuries into a global operation with 80 locations in 40 countries. Its headquarters now sit in New York City, though it maintains a significant presence in the UK.

The firm began as a simple book auction house. After Baker's death, his nephew John Sotheby inherited the business, leading to the name Leigh and Sotheby in 1778. Subsequent partnerships brought names like Leigh, Sotheby and Wilkinson, and Sotheby, Wilkinson and Hodge. In 1924, it became Sotheby and Company, and later Sotheby's. The American holding company was incorporated in Michigan in 1983, reincorporated in Delaware in 2006, and renamed Sotheby's. In June 2019, French-Israeli billionaire Patrick Drahi acquired the company at a 61% premium over market value.

Sotheby's oversees subsidiary organizations including Sotheby's Institute of Art, an educational facility; Sotheby's International Realty, dealing in luxury properties; and RM Sotheby's, specializing in classic cars. The company's auctions regularly achieve record prices, handling everything from Old Masters to contemporary works. In 2023, total sales reached approximately $8 billion, second only in its history. The house also offers financial services, lending against art collections, and has embraced digital innovation with online-only auctions and a dedicated Metaverse platform for NFTs.[edit]