Sotheby's
Type	Public (NYSE: BID)
Founded	London, Great Britain (March 11, 1744)
Founder	Samuel Baker
Headquarters	London, United Kingdom
Key people	Michael I. Sovern, Executive Chairman William F. A public company usually refers to a company that is permitted to offer its registered securities ( Stock, bonds, etc The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. London ( ˈlʌndən is the capital and largest urban area in the United Kingdom. The Kingdom of Great Britain, also known as the United Kingdom of Great Britain, was a State in northwest Europe, in existence from 1707 to 1800 Events 1425 BC - Thutmose III, Pharaoh of Egypt, dies (according to the Low Chronology of the 18th Dynasty Year 1744 ( MDCCXLIV) was a Leap year starting on Wednesday (link will display the full calendar of the Gregorian calendar (or a An entrepreneur is a person who has possession over a company enterprise, or Venture, and assumes significant accountability for the inherent risks and the outcome London ( ˈlʌndən is the capital and largest urban area in the United Kingdom. The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom, the UK or Britain,is a Sovereign state located Michael Ira Sovern (born December 1, 1931) was the 17th president of Columbia University. Ruprecht, President and CEO
Industry	Auctioneering
Products	Fine arts
Revenue	US$3,000,000,000
Divisions	Sotheby's London Sotheby's New York Sotheby's Moscow Sotheby's International
Subsidiaries	Sotheby's International Realty
Website	Sothebys.com

Sotheby's (NYSE: BID) is the world's second oldest auction house in continuous operation (the oldest being Stockholms Auktionsverk founded in 1674). President is a Title leaders of Organizations companies, Trade unions universities, and countries. A chief executive officer ( CEO) or chief executive is typically the highest-ranking corporate officer ( executive) or administrator For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" "Auctioneer" redirects here For the DC Comics supervillain see Auctioneer (comics. In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need Fine art is any Art form developed primarily for Aesthetics rather than Utility. In business revenue or revenues is Income that a company receives from its normal business activities usually from the sale of goods and services The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been A division of a business entity is a portion of that business that operates under a different name A subsidiary, in business matters is an entity that is controlled by a bigger and more powerful entity In the Common law, real property (or realty) refers to one of the two main classes of Property, the other class being Personal property ( A website (alternatively web site or Web site, a back-construction from the Proper noun World Wide Web) is a collection of Web pages The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. "Auctioneer" redirects here For the DC Comics supervillain see Auctioneer (comics. Its predecessor, Baker's, was founded in London, England on 11 March 1744 when Samuel Baker presided over the disposal of "several hundred scarce and valuable" books from the library of a certain Rt. Hon. Sir John Stanley. London ( ˈlʌndən is the capital and largest urban area in the United Kingdom. England is a Country which is part of the United Kingdom. Its inhabitants account for more than 83% of the total UK population whilst its mainland Events 1425 BC - Thutmose III, Pharaoh of Egypt, dies (according to the Low Chronology of the 18th Dynasty Year 1744 ( MDCCXLIV) was a Leap year starting on Wednesday (link will display the full calendar of the Gregorian calendar (or a The Right Honourable (abbreviated as The Rt Hon) is an Honorific prefix that is traditionally applied to certain This disposal however was not by means of auction and as Frank Herrmann and Brian Learmount^[1] observe, the business did not seek to auction fine arts in general until much later, their first major success in this field being the sale of a Frans Hals painting for 9 thousand guineas as late as 1913. Fine art is any Art form developed primarily for Aesthetics rather than Utility. Frans Hals (c 1580– August 26, 1666) was a Dutch Golden Age painter especially famous for portraiture. The guinea coin of 1663 was the first English machine-struck Gold coin. Year 1913 ( MCMXIII) was a Common year starting on Wednesday (link will display the full calendar of the Gregorian calendar (or a Common The current business dates back to 1804 when two of the partners of the original business (Leigh and Sotheby) left to set up their own book dealership. Year 1804 ( MDCCCIV) was a Leap year starting on Sunday (link will display the full calendar of the Gregorian calendar (or a

Today, the firm has an annual turnover of approximately $3 billion, and offices on London's New Bond Street and Manhattan's York Avenue. In business revenue or revenues is Income that a company receives from its normal business activities usually from the sale of goods and services The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been Bond Street is a major shopping street in London which runs through Mayfair from Piccadilly in the south to Oxford Street in the north Manhattan Island, in New York Harbor, is much the largest part of the Borough of Manhattan, one of the Five Boroughs which form the City of New York York Avenue is a short north-south thoroughfare on the East Side of the borough of Manhattan in New York City. This powerful position has been achieved through natural growth, acquisitions (most notably the 1964 purchase of the United States' largest auctioneer of fine art, Parke-Bernet), and smart management during the cyclical "art recessions" of the 20th century. Year 1964 ( MCMLXIV) was a Leap year starting on Wednesday (link will display full calendar of the 1964 Gregorian calendar. The United States of America —commonly referred to as the The twentieth century of the Common Era began on Sotheby's New York completed renovations on its York Avenue headquarters in 2001 adding the unique capability to store works on the same premises as the specialist departments, galleries, and auction spaces. The City of New York Year 2001 ( MMI) was a Common year starting on Monday according to the Gregorian calendar. An art gallery or art museum is a space for the exhibition of art, usually Visual art. Christie's New York still employs an off-site storage facility for its Rockefeller Center offices. Christie's is a leading art business and a fine arts Auction house Rockefeller Center is a complex of 19 commercial buildings covering 22 acres between 48th and 51st streets in New York City. Sotheby's New York's offices are also unique in that they house Aulden Cellars (an in-house wine cellar) and the former Bid (an American contemporary restaurant and later bistro), which despite promising reviews closed without high enough attendance. A wine cellar is a storage room for Wine in Bottles or Barrels, or more rarely in Carboys Amphorae or plastic containers A bistro, sometimes spelled bistrot, is a small Restaurant serving moderately priced simple meals in a modest setting

The company was purchased in 1983 by American millionaire A. Alfred Taubman, who took it public in 1988. Year 1983 ( MCMLXXXIII) was a Common year starting on Saturday (link displays the 1983 Gregorian calendar) Adolph Alfred Taubman (born 1924 is an American Real estate Developer, Industrialist, and Philanthropist from Bloomfield Hills Year 1988 ( MCMLXXXVIII) was a Leap year starting on Friday (link displays 1988 Gregorian calendar)

Sotheby's has an intense rivalry with Christie's for the position of the world's preeminent fine art auctioneer, a title of much subjectivity. Subjectivity refers to a subject's perspective particularly feelings beliefs and desires In August 2004 Sotheby's brought its innovative SAP system online. August 2004: January - February - March - April - May - June - July - August - Christie's is believed to be following suit late in 2007. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. In January 2007 Sotheby's adopted a higher buyer's premium policy, once again to be copied by Christie's. January 2007 is the first month of that year It began on a Monday and 31 days later ended on a Wednesday. Sotheby's recently augmented its web services to focus more intensely on what its clients desired - in the form of MySotheby's - allowing them to track lots and create "wishlists" that could be automatically updated as new works became available. In May 2007, Sotheby's opened an office in Moscow in response to rapidly growing interest among Russian buyers in the international art market^[2]. May 2007 is the fifth month of that year It began on a Tuesday and 31 days later ended on a Thursday. Moscow (Москва́ romanised: Moskvá, IPA: see also other names) is the Capital and the largest city of Russia (Россия Rossiya) or the Russian Federation ( Rossiyskaya Federatsiya) is a transcontinental Country extending

Contents 1 Auctioned artwork 2 Controversy 2.1 Illegal antiquities 2.2 Price fixing scandal 3 London Location 4 Notes 5 Further reading 6 External links

Auctioned artwork

Sotheby's is distinguished by a number of world records for auctioned works of art. Bond Street is a major shopping street in London which runs through Mayfair from Piccadilly in the south to Oxford Street in the north All monetary values are given in United States dollars. The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been

• On May 22, 2002, Norman Rockwell's painting of Rosie the Riveter was sold for $4,959,500. Events 334 BC - The Greek army of Alexander the Great defeats Darius III of Persia in the Battle of the Granicus. See also 2002 (disambiguation Year 2002 ( MMII) was a Common year starting on Tuesday of the Gregorian calendar. Norman Percevel Rockwell ( February 3, 1894 &ndash November 8, 1978) was a 20th century American painter and Illustrator Rosie the Riveter is a Cultural icon of the United States, representing the six million women who entered the Workforce for the first time during
• Sotheby's holds the world record for most expensive painting and work of art ever sold at auction with (Picasso's Garçon à la pipe, $104 million). Pablo Diego José Francisco de Paula Juan Nepomuceno María de los Remedios Cipriano de la Santísima Trinidad Martyr Patricio Clito Ruíz y Picasso (October 25 1881 &ndash April 8 1973 Garçon à la Pipe ( Boy with a Pipe) is a painting by Pablo Picasso.
• Contrary to popular belief Gustav Klimt's 1907 Portrait of Adele Bloch-Bauer I was sold for a reported $135 million privately—not at auction—in June 2006. Gustav Klimt (July 14 1862 – February 6 1918 was an Austrian Symbolist painter and one of the most prominent members of the Vienna Art Nouveau Year 1907 ( MCMVII) was a Common year starting on Tuesday (link will display the full calendar of the Gregorian calendar (or a Common year Portrait of Adele Bloch-Bauer I is a Painting by Gustav Klimt completed in 1907 June 2006 was a month with thirty days The following events also occurred during the month Furthermore, its price has not been officially confirmed.
• On May 3, 2006, Sotheby's auctioned Pablo Picasso's portrait Dora Maar au Chat which was sold for $95 million to an undisclosed purchaser, becoming the second most expensive artwork ever sold at auction. Events 1491 - Kongo monarch Nkuwu Nzinga is baptised by Portuguese missionaries adopting the baptismal name of João Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Pablo Diego José Francisco de Paula Juan Nepomuceno María de los Remedios Cipriano de la Santísima Trinidad Martyr Patricio Clito Ruíz y Picasso (October 25 1881 &ndash April 8 1973 Dora Maar au Chat ( Dora Maar with Cat) is a 1941 painting by Pablo Picasso.
• On June 7, 2007, a Roman-era bronze sculpture of "Artemis and the Stag" was sold at Sotheby's by the Albright-Knox Art Gallery in Buffalo, New York for $25. Events 1099 - The First Crusade: The Siege of Jerusalem begins Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Roman art includes the visual arts produced in Ancient Rome, and in the territories of the Roman empire. Bronze is the most popular metal for cast metal Sculptures; a cast bronze sculpture is often called simply a "bronze" In Greek mythology, Artemis language|Greek] ( Nominative), ( Genitive))] was the daughter of Zeus and Leto, and the twin sister In Greek mythology, Artemis language|Greek] ( Nominative), ( Genitive))] was the daughter of Zeus and Leto, and the twin sister The Albright-Knox Art Gallery is a major showplace for Modern art and Contemporary art located in Buffalo New York. Buffalo (ˈbʌfəloʊ is the second largest city in New York State. New York ( is a state in the Mid-Atlantic and Northeastern regions of the United States and is the nation's third most populous 5 million, by far exceeding its estimates and setting the new record as the most expensive sculpture as well as work from antiquity ever sold at auction.
• Sotheby's also holds the world record for most expensive piece of contemporary art ever sold at auction, with Mark Rothko's quintessential 1950 White Center (Yellow, Pink and Lavender on Rose), which grossed $72. Contemporary art can be defined variously as art produced at this present point in time or art produced since World War II. Mark Rothko, born Marcus Rothkowitz ( Latvian: Marks Rotko; September 25, 1903 &ndash February 25, 1970 Year 1950 ( MCML) was a Common year starting on Sunday (link will display the full calendar of the Gregorian calendar. 8 million in May 2007 and was famously offered by David Rockefeller as well as the most expensive work sold at auction by a living artist with Damien Hirst's "Lullaby Spring" pill cabinet, which grossed roughly $19,300,000 in a June 2007 London sale. May 2007 is the fifth month of that year It began on a Tuesday and 31 days later ended on a Thursday. David Rockefeller Sr (born June 12, 1915) is a prominent American Banker, Statesman, Globalist and the current patriarch Damien Hirst (born 7 June 1965 is an English artist and the most prominent of the group that has been dubbed " Young British Artists " (or YBAs June 2007 is the sixth month of that year It began on a Friday and 30 days later ended on a Saturday.
• On December 6, 2007, Sotheby's auctioned the Guennol Lioness, a 3 1/4-inch limestone lion from ancient Mesopotamia. Events 1060 - Béla I of Hungary is crowned king of Hungary 1240 - Mongol invasion of Rus: Kiev Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. The Guennol Lioness is a 5000-year-old Mesopotamian statue found near Baghdad, Iraq. Mesopotamia (from the Greek meaning "land between the rivers" is an area geographically located between the Tigris and Euphrates rivers largely corresponding It is thought to be at least 5,000 years old. It was sold for $57 million, fetching the highest price ever paid for at an auction for a sculpture. ^[3]
• On December 15, 2007, Sotheby's auctioned off a very limited copy of The Tales of Beedle the Bard, written by J.K. Rowling. Events 533 - Byzantine general Belisarius defeats the Vandals, commanded by King Gelimer, at the Battle of Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. } The Tales of Beedle the Bard is a book of children's stories by British author J Joanne "Jo" Rowling OBE (born 31 July 1965 who writes under the Although it was expected to make just $98,350 the book was purchased for a hammer price of $3,835,980 by London fine art dealers Hazlitt Gooden and Fox on behalf of Amazon.com. Amazoncom Inc ( is an American electronic commerce ( E-commerce) company in Seattle Washington. The story behind the book is originally, the novel was mentioned in the Harry Potter novel series which contained children's stories. Harry Potter is a series of seven Fantasy novels written by British author J J. K. Rowling finished the real version in late 2007. There are only 7 copies in existence, each version unique by its' cover. Six were given away as gifts to those close to her, while the last "The moonstone edition" was up for auction with proceeds going to the The Children's Voice charity. The Children's Voice was a campaign run in 2007 by the Children's High Level Group (CHLG a charity co-founded by MEP Emma Nicholson and the author JK Rowling Each leather bound copy was hand written and illustrated by J. K. Rowling.

Controversy

Illegal antiquities

In 1997, a Channel 4 Dispatches programme alleged that Sotheby's had been trading in antiquities with no published provenance, and that the organisation continued to use dealers involved in the smuggling of artifacts. Channel 4 is a public-service Television and Radio broadcaster in the United Kingdom centred around a television channel of the same name which began Provenance, from the French provenir, "to come from" means the Origin, or the source, of something or the history of the ownership or location Smuggling, also known as trafficking, is the clandestine transportation of goods or persons past a point where prohibited such as out of a building into a Prison ^[4]

As a result of this Exposé, Sotheby's commissioned their own report into illegal antiquities, and made assurances that only legal items with published providence would be traded in the future. Investigative journalism is a type of reporting in which reporters deeply investigate a topic of interest often involving crime Political corruption, or some other Scandal ^[5]

Price fixing scandal

In February 2000, A. Alfred Taubman and Diana (Dede) Brooks, the CEO of the company, stepped down amidst a scandal. February 2000: January - February - March - April - May - June - July - August - September Adolph Alfred Taubman (born 1924 is an American Real estate Developer, Industrialist, and Philanthropist from Bloomfield Hills A chief executive officer ( CEO) or chief executive is typically the highest-ranking corporate officer ( executive) or administrator The FBI had been investigating auction practices in which it was revealed that collusion involving commission fixing between Christie's and Sotheby's was occurring. Collusion is an agreement usually secretive which occurs between two or more persons to deceive mislead or defraud others of their legal rights or to obtain an objective forbidden The payment of commission as Remuneration for services rendered or products sold is a common way to reward sales people.

In October 2000, Brooks admitted her guilt in hopes of receiving a reduced sentence, implicating Taubman. October 2000: January - February - March - April - May - June - July - August - A plea bargain (also plea agreement, plea deal or copping a plea) is an agreement in a Criminal case whereby the Prosecutor offers

In December 2001, jurors in a high profile New York City courtroom found Taubman guilty of conspiracy. December 2001: January - February - March - April - May - June - July - August - In the Criminal law, a conspiracy is an agreement between Natural persons to break the law at some time in the future and in some cases with at least one overt act He served one year and one day in prison, while Brooks received a six-month home confinement and a penalty of $350,000. In Justice and Law, house arrest (also called home confinement, home detention, or electronic monitoring) is a measure by which The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been No staff from Christie's was charged.

At the time of the scandal 59 percent of the company's Class A was owned by Baron Funds. Ronald S Baron (born 1943 (also known as Ron Baron) is a stock investor who founded Baron Capital Group Inc ^[6]

London Location

Sotheby's central London saleroom opened for business on Monday, September 3, 2001. It brings an exciting calendar of frequent, imaginative auctions designed to offer a continuous flow of art, antiques, and collectibles in purpose-designed premises at Olympia, London in West Kensington . Olympia is an exhibition centre in West Kensington, London, W14, England. Sotheby's also has offices in New Bond Street.

Notes

Further reading

• Brian Learmount, "A history of the auction", 1985. Barnard & Learmont. ISBN 0951024000
• Christopher Mason, The Art of the Steal, 2004. Putnam. ISBN 0-399-15093-5
• Peter Watson, "Sotheby's: The Inside Story", 1998. Random House. Random House Inc is the world's largest English-language general trade book publisher ISBN 978-0679414032

External links

• Sotheby's official website
• Sotheby's Impressionist Sale Totals $239m, Tops Low Estimate
• IR ON THE NET: Going once, twice... delisted!
• Sotheby's Group on Facebook

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