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Sotheby’s Opens Private Sale Rooms in London

May 3, 2013 by Marion Maneker

Bloomberg’s Scott Reyburn reveals that Sotheby’s is expanding its private selling facilities. This time its going to be in London:

The company has taken an undisclosed amount of space in a five-story block at 31 George Street, opposite the back entrance of its New Bond Street auction rooms, the company said in an e- mail. A person with knowledge of the matter had told Bloomberg News that it would open a retail space in the U.K. capital.

The 1980s steel and brick building, incorporating a ground floor gallery, will be dedicated to hosting private selling exhibitions, Sotheby’s confirmed today. Billionaires often prefer buying big-ticket items through unpublicized private sales rather than in the glare of competitive public auctions.

Sotheby’s Boosts Private Sales With New Gallery Plan (Bloomberg)

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Filed Under: Economic Trends

About Marion Maneker

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