New Luxury Formats Capture Growing Demand
Passion-based purchases during the pandemic, new sale formats and digital experiences including the launch of the BuyNow platform in the US, drive Sotheby’s worldwide Luxury sales in 2020. Buy Now meets the demand of our clients to buy and sell beyond the traditional auction calendar, offering a 24/7, 365 access to an exceptional property mix of over 3,000 items across fine jewels, contemporary art, collectible sneakers, watches, designer handbags, decorative objects, interiors and more.

• Worldwide Luxury auction sales reach almost $640 million this year
• Online luxury sales have quadrupled in volume (255 sales year-to-date) and their worldwide total ($177 million) has grown 600% compared to the same period last year
• Sotheby’s emerges as market leader in Jewelry: $310.5 million. (Read full report here)
• Records and firsts, including the most valuable jewel auctioned in 2020 and a record for a watch sold online
• 44% of bidders in luxury sales this year were new to Sotheby’s, up 13% the same period last year
• Digital transformation spurs strong sales of wines and spirits, with Asia driving the market. (Read full report here)

*Luxury categories include: Jewellery, Watches, Wine & Spirits, Books & Manuscripts, 20th-Century Design, Handbags & Accessories Sneakers sales and unique themed auctions