Sotheby’s, together with its subsidiaries, operates as an auctioneer of authenticated fine and decorative art, jewelry, and collectibles in the United States, the United Kingdom, China, France, and internationally. The company operates in three segments: Auction, Finance, and Dealer. The Auction segment functions principally as an agent offering works of art for sale at auction and brokering private art sales. The Finance segment provides financing secured by artworks to collectors and art dealers. This segment offers secured loans, including advances secured by consigned property to borrowers who are contractually committed to sell the property at auction in the near term; and general purpose term loans secured by property not presently intended for sale. The Dealer segment operates as an art dealer that sells works of art from inventory directly to private collectors and museums. This segment also acts as a broker in private purchases and sales of art; and is involved in the investment in and resale of artworks. The company also engages in licensing Sotheby’s International Realty and related trademarks; and licensing its Sotheby’s brand name for use in connection with the art auction business in Australia, art education services in the United States and the United Kingdom, and print management services. In addition, it operates sothebys.com with various features, including an online bidding feature, mobile and iPhone/iPad Website access, e-catalogue features, and Chinese language e-catalogues, as well as a retail wine Website. Sotheby’s was founded in 1744 and is headquartered in New York, New York.

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