Sell, sell, sell!

Amid the chaos of the War of the Austrian Succession (that saw Hapsburgs, Bourbons and our own Hanoverians all vying for control of bits of Europe and further afield), an abortive attempted invasion of England by the French, and Jacobite rebellions stirring north of the border, an esteemed auction house was born...

From the New World Encyclopaedia:

Sotheby’s was founded in 1744 when British bookseller Samuel Baker first auctioned off the library collection of the recently deceased Sir John Stanley. The auction featured nearly 500 publications which sold for a total of ₤826. After his success, Baker quickly became the premier auctioneer of British libraries, auctioning off collections belonging to Prince Talleyrand, the Marquess of Landsdowne, the Duke of York, and the Duke of Buckingham. In 1767, Baker sought a business partner in auctioneer George Leigh, who was known for conducting business with an ivory gavel. After Baker’s death in 1778, his estate was divided between Leigh and Baker’s nephew, John Sotheby.

Under Sotheby, the auction house began the sale of prints, medals, coins, and rare antiques in addition to literary collections. In 1864, the auction house took the official name of Sotheby, Wilkinson and Hodge after addition partners were added to the organization. In 1917, the business moved its headquarters from London’s Wellington Street to New Bond Street, where it stands today. Following World War I, the organization began the sale of country houses, and in the aftermath of World War II, the company significantly expanded international operations...

In 1937, Sotheby’s conducted a noteworthy house sale of the pre-World War II era. Dispersing the contents of the Rothschild family home, the company netted more than ₤125,000, one of the largest auction values of the time. The auction garnered so much attention that it was broadcast live by the BBC. By 1946, the company reached an annual sales revenue that exceeded ₤1.5 million, a figure unparalleled for the next eight years.

In October of 1958, Sotheby’s sold the prestigious Goldschmidt Collection, a group of seven paintings sold at a black tie event which gained the attention of celebrities worldwide. The evening event was covered extensively by the international press. The auction lasted just 21 minutes and earned ₤781,000, the largest amount earned by any auction house at the time. Included in the collection was the Paul Cezanne painting entitled Garcon au Gilet Rouge which was sold to Paul Mellon for ₤220,000, a price more than seven times higher than any other modern painting had fetched to date. At the conclusion of the Goldschmidt sale, the esteemed audience stood on their chairs and cheered.

In June of 1959, Sotheby’s sold the acclaimed Adoration of the Magi, a 1634 altarpiece painted by the artist Rubens. The piece sold for ₤275,000 after just two minutes of bidding. Offered by the Duke of Westminster, the painting measured 8 feet by 12 feet and required temporary structural changes to Sotheby’s main gallery in order to bring it to auction. During the same auction, Sotheby’s set yet another record when it auctioned the Westminster Tiara for ₤110,000, marking a value more than double any other piece of jewellery had earned at auction at the time. The diamond crown featured two pearl-shaped diamonds, known as the Arcot Diamonds, and was adorned with 1,240 smaller stones. The tiara was purchased by Harry Winston.

And its successes have continued ever since. With its auction houses nowadays based in London, New York, Dubai, Geneva, Qatar, Zurich, Milan, Hong Kong and Paris, its most lauded sales included the priceless heirlooms of (as well as the Rothschilds) the Weinberg family, the Duchess of Windsor, the Duchess of Devonshire "Debo" Mitford, Somerset Maugham, Andy Warhol, Greta Garbo, Jacqueline Kennedy Onassis, David Bowie and Gianni Versace. A rare 710-year-old copy of the Magna Carta fetched $21.3m in 2007, and in 2012 the sale of Edvard Munch’s The Scream for $120m made headline news around the world. Banksy's notorious "self-shredding" Girl with Balloon was probably a less welcome focus of world attention.

And here are just a few highlights from Sotheby's...

Sothebys - Celebrating 275 Years of Innovation and Reinvention

Sothebys - Musical Automaton Clock

Sothebys - Extraordinary Diamonds

Sothebys - The Ballyedmond Collection: A Glimpse of a Gilded Age

Sigh.

If only I could afford even one of their brochures...

The free exhibition Sotheby’s 275 years is at Sotheby’s Cafe from March to September 2019.