Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Sotheby’s Gets Serious About Moving, Weighs Options

January 3, 2014 by Marion Maneker

nike-town-front-small

Monetizing Sotheby’s real estate is central to Marcato’s activist challenge to Sotheby’s leadership. The New York Post has previously suggested Sotheby’s was considering a move to Hudson Yards but that development is years from completion. Meanwhile other spaces are opening up and the Post speculates that Sotheby’s is looking at space in the Time Warner Center, ironically where former Principal Auctioneer Tobias Meyer lives and these other two locations:

The other is the Sony Wonder Technology Lab space at the base of 550 Madison Ave. Since the building was sold and Sony is likely heading to 11 Madison Ave. […] Meanwhile, Sotheby’s has been favorable to both that location and the Time Warner Center, both of which bring it closer to the newer centers of wealth, just as would the current and soon-to-be vacant Trump-owned Niketown building on East 57th Street, which is connected to Trump Tower but also sits opposite LVMH’s luxury “campus” lineup and between Tiffany’s and the IBM tower and atrium.

Sotheby’s looking for a new location in Manhattan (NYPost)

More from Art Market Monitor

  • Zhang Xiaogang and Key Chinese Contemporary Artists from Storied Johnson Chang Collection Come to AuctionZhang Xiaogang and Key Chinese Contemporary Artists from Storied Johnson Chang Collection Come to Auction
  • Bacon, Picasso, Lichtenstein Top 2020 Global Modern & Contemporary Auctions: AnalysisBacon, Picasso, Lichtenstein Top 2020 Global Modern & Contemporary Auctions: Analysis
  • Van Rysselberghe, Klee, Magritte Lead June 2020 Paris Impressionist and Modern Sales: AnalysisVan Rysselberghe, Klee, Magritte Lead June 2020 Paris Impressionist and Modern Sales: Analysis
  • As Coronavirus Escalates, Sotheby’s Relocates Modern and Contemporary Hong Kong Sales to New YorkAs Coronavirus Escalates, Sotheby’s Relocates Modern and Contemporary Hong Kong Sales to New York
  • Sotheby’s Unveils Plans for New Galleries at York Ave.Sotheby’s Unveils Plans for New Galleries at York Ave.
  • Freud’s £4.5m Early Portrait at Sotheby’s in MarchFreud’s £4.5m Early Portrait at Sotheby’s in March

Filed Under: General Tagged With: Sotheby's

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor
 

Loading Comments...