Sotheby’s made an announcement this morning that continues the process of rationalizing the company’s various efforts. One of CEO Tad Smith’s regular refrains has been to expand the Sotheby’s brand into non-art areas.
That brand benefits greatly from a licensing arrangement with Realogy that puts the auction house’s name on a huge global network of real estate affiliates. It has also acquired a stake in classic car maker, RM Auctions. The jewelry and watch sectors remain important across the auction industry.Continue Reading