Background and Objectives
Sotheby’s was established on 11 March 1744 in London, the founder Samuel Baker was a book store seller began his first auction on selling antique books. Sotheby's pioneering efforts to open the French market to international auction houses helps to end a 400-year French monopoly, and Sotheby's becomes the first international auction house to hold sales in Paris. In 2012 May Sotheby shattered the world auction record for the work of art ‘The Scream' sold for 120 million dollars
Sotheby's is a multinational corporation, originally British but now headquartered in New York City. One of the world's largest brokers of fine and decorative art, jewelry, real estate, and collectibles. Sotheby's main objectives and focus are divided into three segments: auction, finance, and dealer. The company’s services range from corporate art services to private sales.
Sotheby’s is the world’s fourth oldest auction house in continuous operation, with 90 locations in 40 countries. As of December 2012, the company had 1,446 employees worldwide. It is the world's largest art business with global sales in 2012 totaling $5.8 billion.
Sotheby Sotheby’s International Realty Affiliates LLC announced that they would be targeting a global audience of high end consumers. Their 2014 marketing plan was designed to deliver 800 million overall impressions, with nearly half of that dedicated to global markets, ensuring that they are positioning the Sotheby’s International Realty brand where consumers are searching for real estate. Target Group
Sotheby reported a drop in auction commissions in 2012 and have stated that is why they believe they need to increase the buyer's premium due to the rising costs of such a high end industry. Sotheby’s does not deal with artworks that are estimated to generate $30,000 – $40,000, because the low end market of auctions rate of