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Concept
Sotheby's
Summary
Sotheby's (ˈsʌðəˌbiːz) is a British-founded American 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.
Sotheby's was established on 11 March 1744 in London by Samuel Baker, a bookseller. 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; Sotheby, Wilkinson and Hodge (1864–1924); Sotheby and Company (1924–83); Mssrs Sotheby; Sotheby & Wilkinson; Sotheby Mak van Waay; and Sotheby's & Co.
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. In June 2019, Sotheby's was acquired by French-Israeli businessman Patrick Drahi at a 61% market premium.
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.
Sotheby's was established on 11 March 1744 in London by Samuel Baker, a bookseller. In 1767 the firm became Baker & Leigh, after Samuel Baker auctioned several hundred valuable books from the library of The Rt Hon Sir John Stanley, 1st Baronet, of Grangegorman and became business partners with George Leigh. The library Napoleon took with him into exile at St Helena, as well as the library collections of John Wilkes, Benjamin Heywood Bright and the Dukes of Devonshire and of Buckingham (both related to George Leigh), were sold through Samuel Baker's auctions.
After Baker's death in 1778, the business was left to Leigh and his nephew John Sotheby, where it became a prominent book auction house and was renamed Leigh and Sotheby.
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