Sotheby’s Brand History

THE HISTORY OF

    AN EXTRAORDINARY BRAND

1744 –¬†Sotheby’s Auction House

Since the founding of the Sotheby’s Auction House in 1744 as an auction bookseller, the Sotheby’s name has earned renown as a marketer of the world’s most valuable and fine possessions. This reputation is built as much on exceptional service to clients as it is on the notable art, antiques, jewelry and other holdings that pass through Sotheby’s offices around the world. It was out of this rich heritage that the Sotheby’s International Realty¬ģ¬†brand was born.

Click here to explore auctions within the Sotheby’s Auction House

1976 –¬†An Extraordinary Brand is Launched

Founded on the same commitment to exceptional service that characterized the¬†Sotheby’s Auction House¬†for more than two centuries, the Sotheby’s International Realty¬ģ¬†brand is launched and becomes known around the world for the distinctive properties it represents.

2004 –¬†Designing the Future… By Building on the Extraordinary

Sotheby’s¬†enters into a long-term strategic alliance with¬†Realogy, the world’s leading real estate brokerage franchisor. The agreement provides for the licensing of the Sotheby’s International Realty¬ģ¬†name. The brand begins offering membership in its franchise system to select real estate brokerage companies.

2005 –¬†Worldwide Momentum

The brand surpasses the 100-office milestone in the United States in less than ten months. It also launches its successful “Portraits” advertising campaign and its website, sothebysrealty.com.¬†The Jackson Hole, Wyo., office records a significant ranch sale for approximately $90 million, and¬†Daniel Gale Sotheby’s International Realty¬†in Long Island, N.Y., and¬†William Pitt Sotheby’s International Realty¬†in Connecticut joins the network.

Click here for map of all current offices with the¬†Sotheby’s International Realty¬ģ¬†network.

2006 –¬†Unique Homes for the Connoisseur of Life

Prominent Properties Sotheby’s International Realty¬†sells the Frick Estate in Alpine, N.J., for $58 million.

The brand also expanded its global reach with the additions of New Zealand Sotheby’s International Realty, de Rham Sotheby’s International Realty in Switzerland and Kristina Szekely Sotheby’s International Realty in Spain.

2007 –¬†Artfully Uniting Extraordinary Homes

with Extraordinary Lives

The brand welcomes¬†Atlanta Fine Homes Sotheby’s International Realty¬†in Georgia to its network, as well as its 100th U.S. affiliate company,¬†Nestler Poletto Sotheby’s International Realty¬†in Boca Raton, Fla. The sale of Rancho El Cojo and Jalama Ranch is recorded for approximately $155 million in Santa Barbara, Calif., county, and the brand launches¬†RESIDE¬ģ¬†magazine

2008 –¬†Setting the Standard for Excellence

The network grows to approximately 9,000 sales associates located in more than 470 offices worldwide. The brand is named winner of¬†Franchise Business Review’s 2008 Best in Category for Real Estate Franchisee Satisfaction¬†award. It also is named to the organization’s top 50 for client satisfaction and is number five for all franchise categories with more than 200 locations. As well, the brand is rated the most prestigious real estate company by high-net worth consumers in the¬†Luxury Institute’s 2008 Luxury Brand Status Index survey.

2009 –¬†A Year of Recognition

The brand is named #1 in its category and #7 of the more than 400 franchises surveyed for¬†Franchise Business Review’s 2009 Franchisee Satisfaction award. It also is named to the¬†Franchise Times¬†Fast 55 list, and¬†RESIDE¬ģ¬†magazine is honored with a¬†2009 Hermes Platinum Award¬†for creative excellence and outstanding design and editorial in the overall magazine category.

2010 –¬†The World… In Our Reach

The brand is named winner of¬†Franchise Business Review’s Best in Category for Real Estate Franchisee Satisfaction award¬†for the third year in a row.¬†Peaks Real Estate Sotheby’s International Realty¬†also sells BootJack Ranch for approximately $48 million, a price point that at the time is the highest known for a residential sale within the United States in the last 12 months.

In 2010 the brand grew the office count within its network by more than 11 percent, ending the year with 11,700 sales associates located in more than 550 offices in 44 countries and territories worldwide.

2011 –¬†The Framework of an Extraordinary Brand

The brand proudly launched its newly redesigned website, sothebysrealty.com, and its¬†official YouTube channel.¬†It also won Franchise Business Review’s Best in Category for Real Estate Franchisee Satisfaction award for the fourth year in a row.¬†The brand also grew the office count within its global network by more than 7 percent in 2011, ending the year with more than 600 offices and nearly 12,000 sales associates located in 45 countries and territories worldwide.

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2012 –¬†Building on the Momentum

The brand debuted its¬†iPad¬ģ application¬†and announced it won¬†Franchise Business Review‚Äôs Best in Category for Real Estate Franchisee Satisfaction award¬†for the fifth year in a row.

It also launched a series of branded websites for specialty markets. The brand grew the office count within its global network by more than 9 percent in 2012, ending the year with approximately 660 offices and 12,800 sales associates located in 47 countries and territories worldwide.

2013 –¬†Defining the Future

Philip A. White became the brand’s new president and chief executive officer in February. The brand also won Franchise Business Review’s Best in Category for Real Estate Franchisee Satisfaction award for the sixth year in a row.

2014 –¬†Extraordinary Growth

The¬†Sotheby‚Äôs International Realty¬†brand reported growth in its global network in 2013. At year-end, the network totaled 700 offices, a gain of 6 percent, and more than 14,500 sales associates, up 13 percent. The network encompasses 52 countries and territories worldwide. The brand also won Franchise Business Review‚Äôs Best in Category for Real Estate Franchisee Satisfaction award for the seventh year in a row.¬†Sotheby‚Äôs International Realty¬†U.S.-affiliated brokers and sales professionals handled 24 percent more transaction sides in 2013 than 2012 ‚Äď nearly three times better than the 9.2 percent gain in home sales sides reported for the overall market by the National Association of Realtors.¬ģ