Sotheby’s will move its Paris headquarters this fall from its current address down the street to gain more space. The news comes as the auction house prepares to move its Hong Kong office to a new location next month and Sotheby’s New York office to the Brower Building in 2025.
The auction house announced on Monday (June 24) that it plans to move to 83 rue Faubourg Saint-Honoré in Paris, a corner lot in the French capital’s 8th arrondissement. Sotheby’s auction house said that the new space has five floors and an area of 3,300 square meters. The exhibition space of Sotheby’s Paris showroom will increase by nearly 30%. The new auction room will seat 200 people, and the upper level of the space will include a “luxury showroom with fixed-price special lots, as well as dedicated space for private auctions, which Sotheby’s said has been a fast-growing area in the past.” part of the business for several years. The new location will also feature a café and wine cellar with a tasting area.
The space was previously home to Galerie Bernheim-Jeune, one of the oldest galleries in Paris, which closed in 2019. Paris hosts the first exhibition dedicated to Vincent Van Gogh. Sotheby’s said it plans to move from its current address, 76 Rue du Faubourg Saint-Honoré, in October.
“Passers will have a unique view of the auction room through the full-length transparent windows facing the street. The new space is also particularly suitable for displaying single-owner collections.” Mario Tavella, Chairman of Sotheby’s Europe ) said in a statement: “It will become a destination in itself. Sotheby’s cited the collections division led by Tavera as a factor in the auction house’s “significant growth in Paris in recent years.”
The announcement of a new store in Paris is the latest news for Sotheby’s, which is rapidly expanding its global real estate business. Sotheby’s Hong Kong will move into a new 24,000-square-foot space next month. A year ago, Sotheby’s announced it would purchase New York’s famed Breuer Building, which once housed the Whitney Museum of American Art and, more recently, the Frick Collection. Sotheby’s reportedly spent about $100 million to buy the site and plans to move there in September.
last month, The Art Newspaper Reports say Sotheby’s has entered a consultation period in London as it prepares for dozens of job losses in the British capital. Cuts are also planned at other locations.
