Sotheby's’ Post

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View profile for Charles Stewart

Chief Executive Officer

Today we brought our 280th year of business at @Sothebys – and my fifth as CEO – to a close when we reported our financial results. Against a market backdrop characterized by a myriad of uncertainties, we led the market once again with a solid $6 billion in consolidated sales. We hosted 466 auctions last year and saw bidding from 133 countries. Our Private Sales division delivered its second best year ever at $1.4bn of sales, our Sotheby’s Financial Services division saw record performance with $1.3bn of loans originated, and our Luxury division had its third consecutive year of over $2bn in sales – and now makes up 37% of our total sales. The challenge in the year was almost entirely on the supply side of our market. Looking at the data, what is clear is that demand remained strong at all price points: - We had more bidders per lot than ever before - Higher sell through rate than ever before - 85% - Across all lots, price to estimate ratio was 151% (up from 141% in 2023) We also grew our physical and digital audiences significantly, partly in connection with the new galleries we opened in Hong Kong and Paris last year. We added nearly a million followers on social media in our digital channels. Looking forward, we have grounds for optimism. With reduced uncertainty and strengthening economic sentiment, we have a strong pipeline for the first quarter of this year, and our 100+ auctions post the US election performed on average 7% better than the auctions in the preceding two months. Wherever you are in the world, we wish you a safe and prosperous 2025. And we look forward to seeing you at Sotheby’s: https://lnkd.in/gxNKHwt4

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Claudia Fellmer

eid. dipl. Design ( Photographie ) 💿 : C | D Corporate Design Teaching | Lehren

1mo

bravo !

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Rodrigo Aguiar

JP Morgan Payments CIB – LatAm Corporate Development & Partnerships

1mo

Incredible and amazing results! This proves once again that smart working, consistece, resilience, innovative solutions and great leadership drives great numbers! Congrats to the whole Sotheby’s team

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Claudia Fellmer

eid. dipl. Design ( Photographie ) 💿 : C | D Corporate Design Teaching | Lehren

1mo

on sale ~

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Geraldine Cowper (Greenberg)

Real Estate Salesperson at Sotheby’s Realty @nyrealestategal @junkhunting | Oliver’s Mum

1mo

Incredible!

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Alked Derhemi

Investments Advisor - Finance Manager - Supervisor Director by Remote for commercials

1mo
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Yemi L.

For Luxury Leaders and Investors

1mo

Very Solid Results👏🏽

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Peter F. May

Strategic Business and Legal Advisor for International Engagement

1mo

Quite a year Charlie! Congrats!

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BEN OAKLEY FRSA

CURATOR, GALLERY DIRECTOR, EVENT & CREATIVE AGENCY ARTIST.

1mo

Gives a glimpse of hope. #positive25

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Nicolás Tejerina

Internet Entrepreneur / Advisor / General Manager on a Sabbatical

1mo

Way to go charles!!

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Andrei Belyi

International Development Executive | Advisor | Bain Alum | Tuck MBA

1mo

Bravo Charlie!

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