Sotheby’s

What Sotheby’s does

Sotheby's is a global auction house founded in 1744, headquartered at 1334 York Avenue, New York, that conducts live and online auctions, private sales, and retail transactions in fine art, decorative art, jewelry, watches, wine and spirits, sports memorabilia, and luxury collectibles. The company operates through flagship salerooms in New York, London, Paris, Hong Kong, Geneva, and Zurich, supported by a specialist network spanning approximately 40 countries, and runs dedicated sub-brands including RM Sotheby's (automobiles), Sotheby's Wine, Sotheby's Watch Services, Sotheby's Institute of Art, and The Salon luxury retail concept. Its technology stack centers on a digital auction platform supporting live auctions, online-only auctions, the proprietary Sotheby's Sealed Auctions blind-bidding format, and integrated payment processing via Stripe, with e-commerce for the wine and Salon storefronts running on Shopify. Authentication is supported by the Orion Analytical forensic platform (acquired 2016) and AML/compliance is handled through Chainalysis and Refinitiv World-Check integrations.

Sotheby's revenue is generated primarily through transaction-based commissions: a tiered buyer's premium (up to 28% in the US for lots up to $2 million, descending by tier) and a standard 10% seller's commission with a $500 minimum for lower-value lots and a 2% success fee on lots exceeding high estimate. Secondary revenue streams include private sales (approximately $1.4 billion in volume, ~25% of revenue), art-backed lending (a $900 million securitized art-loan ABS plus a $100 million KKR facility secured by auction fees), and retail/Salon sales of luxury goods at fixed or enquiry-based pricing across five flagship locations. The company returned to profitability in 2025 with $53 million pre-tax profit on $7 billion in global sales (17% year-over-year growth), is privately held following the 2019 take-private by Patrick Drahi through BidFair Media LLC, and received a $1 billion capital injection from Abu Dhabi Investment Authority (ADQ) in late 2024 as a strategic minority partner.

The customer base is dominated by ultra-high-net-worth collectors and institutional buyers, with secondary segments including museums, family offices, and luxury collectors across the Americas, EMEA, and Asia Pacific. GTM is relationship-driven through specialist field sales, exclusive consignor partnerships (e.g., official NBA memorabilia partnership, renewed Hospices de Beaune partnership through 2030), high-profile exhibitions and previews, and a year-round retail model anchored by The Salon storefronts that complements the cyclical auction calendar.

Name

Sotheby’s

Legal name

Sotheby's Inc

Website

https://sothebys.com

Company type

Private

Founded year

1744

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Sotheby's is a 1744-founded global auction house conducting live, online, and private sales of fine art, jewelry, watches, wine, sports memorabilia, and luxury collectibles to ultra-high-net-worth collectors across approximately 40 countries, generating revenue primarily through buyer's premiums, seller's commissions, and art-backed lending.

Ownership category

akta.pro rank

Product category

Fine Art & Luxury Auction Services

NAICS

Used Merchandise Retailers (459510)

SIC

Retail-Jewelry Stores (5944)

akta.pro primary industry

Auction Houses (Luxury Watches & Jewelry) (CRAKAKAF)

akta.pro secondary industry

Autographed Memorabilia Retail (CRAMAOAB)

Keywords

• Fine art auctions
• Luxury goods auctions
• Private art sales
• Art authentication services
• Collector car auctions

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices11 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Auction Commissions: Sotheby's charges a buyer's premium (up to 28% in the US for lots up to $2 million) and a seller's commission (10% standard, with minimum $500 for lots under $5,000 estimate). A 2% success fee is retained for lots exceeding high estimate.
2. Private Sales: Off-market art transactions conducted privately, generating around $1.4 billion in private sales volume, growing 14% while public auctions declined 20%. Private sales offer price control, confidentiality, and lower transaction costs.
3. Art-backed Lending: Sotheby's offers art-secured loans and financing services, having securitized $900 million in art-backed ABS. The company also partnered with KKR for $100 million debt deal secured by auction fees.
4. Retail/Salon Sales: Direct sales of luxury goods through Salon locations in New York, Paris, London, Hong Kong, and Zurich, featuring handbags, watches, jewelry, and fashion items at fixed or enquiry-based pricing.
5. Wine & Spirits Auctions: Wine and spirits auction business generating $127.5 million in 2025, a 12% year-over-year increase, with 69 sales across 8 cities attracting bidders from 63 countries.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

Sotheby's conducts live and online auctions and private sales of fine art, antiques, decorative art, jewelry, watches, wine and spirits, sports memorabilia, and collector automobiles, supported by authentication, valuation, art-backed lending, and retail Salon showrooms. Beyond auctions, the firm provides complementary services including shipping and logistics, advisory, and watch care through the Sotheby's Watch Services subsidiary.

Product overview

Sotheby's is a global auction house operating as a multi-category luxury marketplace with both live and online auction platforms plus private sales channels. The core offering comprises fine art auctions (contemporary, modern, Old Masters, impressionist), luxury goods (watches, jewelry, handbags, sneakers), wine & spirits, sports memorabilia, and automobiles through its RM Sotheby's subsidiary. Key product lines include The Salon luxury showroom experience in flagship locations, NBA Auctions official partnership, Magnum Opus single-owner collection sales, and Sotheby's Sealed Auctions blind-bidding format. The company operates complementary services including Sotheby's Watch Services (dedicated watch care), Sotheby's Wine platform, Private Sales for confidential off-market transactions, and Concierge Auctions for real estate. The platform is accessible through live auctions, online-only sales, and immediate purchase options via The Salon showrooms.

Differentiator

Problem solved

Functional benefit

Brands

• Sotheby's Wine: Fine wine and spirits auction division
• Sotheby's Watch Services
• Sotheby's Institute of Art
• RM Sotheby's
• The Salon

Products and services

• Fine Art Auctions Auction services for fine art including contemporary art, modern art, Old Masters, impressionist works, and sculptures held as live events and online auctions for collectors and institutions globally.
• Luxury Goods Auctions Auction services for luxury items including watches, jewelry, handbags, sneakers, and collectibles, complemented by The Salon showroom experience for immediate purchase.
• Wine & Spirits Auctions Specialized auction platform for fine wines and spirits operated through Sotheby's Wine, with Burgundy auctions (Hospices de Beaune partnership) and rare-whiskey auctions forming cornerstones of the offering.
• Sports Memorabilia Auctions Auction services for game-worn jerseys, championship memorabilia, and historic sports artifacts, including an official NBA partnership for authenticated memorabilia from NBA players and events.
• Automobile Auctions (RM Sotheby's) Specialized automobile auction subsidiary handling luxury and collector vehicles through Sotheby's global platform, including events such as the Zurich Auction.
• Private Sales Off-market confidential art and luxury transactions between buyers and sellers, representing approximately 25% of revenues, offering price control, confidentiality, and access to works not available at auction.
• The Salon Curated luxury retail showroom experience at flagship locations in New York, Paris, Hong Kong, London, and Zurich offering in-person viewing and immediate purchase of exceptional luxury selections.
• Sotheby's Watch Services Dedicated watch service platform providing watch authentication, restoration, warranty, insurance, and maintenance for timepieces, available to customers in the United States.
• Sotheby's Institute of Art Academic arm of Sotheby's offering M.A. programs including Luxury Business in New York and London, providing experiential learning through connections to luxury brands and the art market.
• Sotheby's Wine Dedicated wine auction and retail platform featuring fine wine auction sales, the Hospices de Beaune Burgundy partnership, and related services, operated as a Sotheby's subsidiary.
• Art-Backed Lending Art-secured loans and financing services for collectors using artwork as collateral, including a $900 million art-backed securitization and a KKR-backed $100 million facility secured by auction fees.
• Concierge Auctions Real estate auction partnership offering luxury property sales through Sotheby's global platform, connected to Sotheby's International Realty.
• Valuation & Appraisal Services Professional property valuation services provided by specialists for insurance, estate planning, taxation, and collection management purposes, including complimentary inventories and estimates.
• Shipping & Logistics Services Expert packing, shipping, insurance, and delivery services for purchased items, with Sotheby's Client Experience arranging insured worldwide shipping.
• Magnum Opus Collection Sales A multi-sale single-owner collection series featuring exceptional curated works across four sales in New York (Evening Auction, Act II: Figure & Form, Act III: Darkness & Light, Act IV: Ornament & Texture) plus 22 additional sales through 2027, valued at over $60 million.
• NBA Auctions Official partnership program with the NBA offering authenticated game-worn jerseys, balls, and championship memorabilia from NBA players and events.
• LITO Contemporary Artist Editions Exclusive contemporary artist editions offered through Sotheby's online marketplace, produced using LITO's patented Hi-Rnd© process to capture texture, color, and brushstroke detail; planned releases throughout 2026 in New York, Los Angeles, and London.

Quantifiable outcome

• 2025 sales reached $7 billion, up 17% year-over-year
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature2 records

Partnerships

Four partnerships are on record, tiered flagship, core and minor.

• LITOflagshipStrategic or Co-development Partner · 20 April 2026Collaboration to bring exclusive contemporary artist editions to Sotheby's online marketplace. Launched with limited-edition works by Kehinde Wiley based on his 2008 painting 'Triple Portrait of Charles II,' priced between $8,000 and $15,000. Editions produced using LITO's patented Hi-Rnd© process capturing texture, color, and brushstroke detail.
• NBAcoreStrategic or Co-development Partner · 1 January 2023Official memorabilia partnership established in 2023 for game-worn NBA memorabilia auctions. The partnership grants Sotheby's exclusive rights to auction game-worn jerseys, balls, and other NBA memorabilia, including the historic OG Anunoby game-winning basketball from the 2026 NBA Finals Knicks championship.
• Hospices de BeaunecoreStrategic or Co-development PartnerPartnership renewed through 2030 for annual Burgundy wine auctions, a cornerstone of Sotheby's wine & spirits business representing 39% of wine auction sales.
• The Distillers One of OneminorStrategic or Co-development PartnerPartnership extended through 2033 for rare whiskey auctions, supporting Sotheby's position in the spirits auction market.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Emerging players

• Artnet: Artnet operates one of the largest online art marketplaces and an art price database. While it does not run traditional auctions at Sotheby's scale, it competes for mid-market online art transactions and provides price transparency that pressures auction pricing.
• Masterworks: Masterworks is a fintech platform that securitizes fine art shares for retail investors. It represents an emerging alternative-asset channel that competes with Sotheby's traditional auction model for blue-chip art allocation and investment-grade buyers.
• Artsy: Artsy is an online art marketplace connecting collectors with galleries and auction houses. It overlaps with Sotheby's online channels and competes for the next generation of digital-native collectors entering the market.

Direct peers

• Christie's: Christie's is Sotheby's primary direct competitor and the world's other leading global auction house, founded 1766. Operates in the same fine art, luxury, and collectibles categories with comparable auction and private sale channels serving the same UHNW collector base.
• Heritage Auctions: Heritage Auctions is the largest collectibles auction house in the US, dominant in sports memorabilia, comics, coins, and entertainment memorabilia. It competes directly with Sotheby's recent push into NBA sports memorabilia and luxury collectibles.
• Bonhams: Bonhams is a London-founded international auction house competing directly across fine art, luxury goods, motoring, and collectibles. While smaller than Sotheby's and Christie's, it competes head-to-head for mid-market and specialty consignments globally.
• RM Sotheby's: RM Sotheby's is a wholly-owned subsidiary of Sotheby's, but operates as its own brand in collector car auctions. Comparable in category and customer profile but focused exclusively on high-end automobiles through a global auction network.
• Phillips (Phillips Auctioneers): Phillips is a global auction house specializing in contemporary art, design, photographs, and watches. It directly competes in the 20th/21st century art and luxury watch categories where Sotheby's is highly active.

Regional players

• Catawiki: Catawiki is a European-based online auction platform specializing in curated collectibles, luxury items, and art. It serves European collectors primarily and competes at the lower-mid price tier rather than the UHNW segment Sotheby's serves.

Others

• Sotheby's International Realty: Sotheby's International Realty is an affiliated luxury real estate brokerage operating under the Sotheby's brand license. While separately owned, it leverages Sotheby's prestige positioning to serve the same HNW clientele across adjacent luxury asset categories.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Sothebys
• Facebookfacebook.com/sothebys
• LinkedInlinkedin.com/company/sothebys

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries6 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sotheby’s