Monday, 13th March 2006 (3550 views)

Premier auction house Sotheby's, famous among other things for its high-end gold and jewellery sales, has set a record breaking revenue total of US$513.5 million.

The takings were up 13 per cent on 2004's figures and the company attributed the growth to increased commissions and a good mix of sale items.

"2005 was our best year in fifteen years and was without question, one of Sotheby's best years ever," said Bill Ruprecht, President and Chief Executive Officer of Sotheby's Holdings, Inc.

Mr Ruprecht went on to explain that 2006 was already looking promising and he hopes the year will be boosted by a new jewellery retail venture.

Commenting on 2005 he said: "Sotheby's announced the launch of an exciting retail jewellery joint venture with the Steinmetz Diamond Group which brings together Steinmetz's access to the world's finest diamonds and their celebrated talents of cutting and polishing stones with Sotheby's expertise, world-renowned brand and international client base."

 

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