Sotheby’s Auction House Founded

March 11, 1744

Founded in 1744, Sotheby’s is the oldest and largest internationally recognised firm of fine art auctioneers in the world. It has a global network of 80 offices and the company’s annual worldwide sales turnover is currently in excess of $7 billion.

Sotheby’s founder, Samuel Baker, was an entrepreneur, occasional publisher and successful bookseller who held his first auction under his own name on 11 March 1744. The dispersal of “several Hundred scarce and valuable Books in all branches of Polite Literature” from the library of Sir John Stanley fetched a grand total of £826.

Baker concocted enticing advertising campaigns and produced authoritative catalogues. He was, as one colleague noted, a “joyous fellow” with a fondness for plum-coloured coats.

For more than a century, Baker and his successors were to handle all of the great libraries sold at auction, including those of the Earls of Sunderland, Hopetoun and Pembroke and the Dukes of Devonshire, York and Buckingham. Following Napoleon’s death, Sotheby’s sold the books he had taken into exile to St Helena – the final lot was the Emperor’s tortoiseshell-and-gold walking stick.

In 1767 Baker went into partnership with George Leigh. Leigh was a natural auctioneer with an actor’s sense of timing. His ivory hammer is still on display at Sotheby’s London galleries. On Baker’s death in 1778, his estate was divided between Leigh and Baker’s nephew John Sotheby, whose family remained involved in the business for more than 80 years. During that time the company extended its role to take in the sale of prints, coins, medals and antiquities.

In 1842 John Wilkinson, the firm’s senior accountant, became a partner and when the last of the Sotheby family died in 1861, Wilkinson took over as head of the business. Three years later he promoted Edward Grose Hodge, and restyled the company Sotheby, Wilkinson and Hodge, the name it carried until 1924.

Country: United Kingdom
Year: 1744
Date: March 11
Source: https://www.sothebys.com/en/about/our-history

History of Auctioneering

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