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Sotheby’s To Buy Art Advisory Firm Art Agency, Partners

Sotheby’s To Buy Art Advisory Firm Art Agency, Partners

Sotheby’s is reportedly acquiring boutique art advisory company Art Agency, Partners for $85 million, which includes potential earnings based on performance. The acquisition price breaks down to $50 million in cash, as well as additional payments of up to $35 million if undisclosed financial targets are reached over the next five years, reports the New York Times. Sotheby’s is one of the oldest company listed on the New York Stock Exchange and this acquisition . According to Art Agency, Partners website, the company is uniquely positioned to provide guidance and assistance to serious art collectors in today’s multifaceted and increasingly nuanced art market.

 

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