The auction catalog. Sotheby's. The George Abrams Collection.

The auction catalog. Sotheby's. The George Abrams Collection.
London. November 16-17, 1989 In English, hardcover, 474 p., ill. format 30 × 23 cm. Condition: Very good.

Sotheby's was founded on March 11, 1744 in London by the bookseller Samuel Baker (before Sotheby's, only three Swedish auction houses were founded in the world). The company's name is based on the surname of Samuel Baker's nephew, John Sotheby (1740-1807).

Sotheby's was a closed "club" where only aristocrats could get jobs. In 1955, a branch was opened in new York. Branches have also opened in Paris, Los Angeles, Zurich, Toronto, Melbourne, Munich, Edinburgh, Johannesburg, Houston, and Florence. In 1977, Sotheby's shares began to be sold by public subscription and quickly rose in value. By the early 1980s, Sotheby's was almost bankrupt due to the onset of the industrial crisis.

In 1983, Sotheby's was sold to American entrepreneur A. Alfred Taubman, owner of a large chain of stores in the United States. In 1998, Taubman listed Sotheby's shares on the stock exchange.  

In may 2007, the first of the leading auction houses opened a branch in Moscow. The presentation of old Russian art at auction is considered a promising direction , but it does not go beyond 1% of the total turnover of the company.

In June 2019, Sotheby's auction house was acquired by French media magnate Patrick Drai. The deal was worth $3.7 billion. Drai bought it with his own money, as a family business that will be run by a specially created American company, BidFair US. Sotheby's is currently going through difficult times — with a net loss of $7.1 million in the first quarter of 2019.