Online Innovations Continue To Drive Results at Sotheby's

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Dec 20, 2016, 09:00 ET

NEW YORK, Dec. 20, 2016 /PRNewswire/ --

Online Buyers Spend $155 Million at Sotheby's in 2016, Up Nearly 20% from Prior Year

London, November 2016: The Bowie/Collector auction at Sotheby's totaled $41.1 million - 62% of bidders participated online, and 71% were new to Sotheby's

19% of All Lots Sold at Sotheby's in 2016 Are Purchased Online Including Record $6 Million Earrings Sold to Online Buyer

52% of All Online Bidders Are New to Sotheby's

- Driving Overall Record Number of New Clients in 2016 -

Program of Online-Only Sales Piloted in 2016 to Complement Existing Global Auction Calendar

- Led by The Collection of Jacob and Aviva Baal-Teshuva With a Total of Nearly $2 Million -

Sotheby's Launches Apps Across Platforms

- iPhone, iPad, Android, Apple TV, Amazon Fire, Samsung Smart TV -

Sotheby's Social Audience More Than Doubles in 2016

- On Track to Pass 1 Million Followers By Year-End, Leading the Marketplace -

Sotheby's Museum Network Unveiled

- First Original Web Series Debuts: Treasures from Chatsworth -

"Embracing technology more effectively, both internally and through client-facing products, has been at the heart of our strategy over the past 18 months and our results speak for themselves," said Tad Smith, Sotheby's CEO. "We look forward to 2017 and continuing to deliver the best service in the industry and results for our clients and shareholders."

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Sotheby's has been uniting collectors with world-class works of art since 1744. Sotheby's became the first international auction house when it expanded from London to New York (1955), the first to conduct sales in Hong Kong (1973), India (1992) and France (2001), and the first international fine art auction house in China (2012). Today, Sotheby's presents auctions in 10 different salesrooms, including New York, London, Hong Kong and Paris, and Sotheby's BidNow platform, powered by Invaluable allows visitors to view all auctions live online and place bids from anywhere in the world. Sotheby's offers collectors the resources of Sotheby's Financial Services, the world's only full-service art financing company, as well as the collection advisory services of its subsidiary, Art Agency, Partners. Sotheby's presents private sale opportunities in more than 70 categories, including S|2, the gallery arm of Sotheby's Global Fine Art Division, and two retail businesses, Sotheby's Diamonds and Sotheby's Wine. Sotheby's has a global network of 80 offices in 40 countries and is the oldest company listed on the New York Stock ExchangeNYSE: BID).

*Estimates do not include buyer's premium. Prices achieved include the hammer price plus buyer's premium and are net of any fees paid to the purchaser where the purchaser provided an irrevocable bid.

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