Charles F. Stewart
CEO of Sotheby's
Sotheby’s CEO Charles F. Stewart knows where to find opportunity amid market downturns. “The art and luxury markets have proven to be incredibly resilient, and demand for quality across categories is unabated,” Stewart noted in a recent press release. The CEO attributes the auction house’s success to China’s power, the sophistication of old clients, and the appetite of new collectors. According to company statistics released this fall, Asia is the source of 20 percent of all new bidders and buyers, and 30 percent of new collectors are under the age of 40.
Livestreams proved a useful sales tool this summer, achieving $1.2 billion in sales for June and July when combined with live events. Overall, Sotheby’s points to a more than three-fold increase in online sales from their full-year result in 2019. Given these results, Stewart looks forward to the future. As he proclaimed in a recent press release, “It promises to be an exciting fall.”