Sotheby’s CEO Charles F. Stewart discusses his approach to expanding the company’s profile while paying homage to its storied past.
Sotheby’s gallery in Aspen
With its rich history, Sotheby’s (sothebys.com) is an institution. And with CEO Charles F. Stewart at the helm, the company continues to adapt to not only a changing landscape but an evolving worldwide clientele. We sat down with Stewart to get his take on new openings in Aspen and Palm Beach, as well as his international goals for the future.
You took over as CEO of Sotheby’s in 2019 and your goal has been to expand access and ownership of works of art and luxury objects. How have the last few years progressed toward that goal? We’ve had a really strong couple of years. Clients have continued to make passion-based purchases, and we have just recorded the best first half year performance in our history, with sales of $4.3 billion. However, I think one of the most exciting things about Sotheby’s and perhaps the least known is that we actually sell across 70 different departments and categories. Of course we sell $92 million Botticellis or $58 million rare pink diamonds, but we also offer so much more. Just in the last month or so, we sold some amazing examples of 17th century Korean ceramics, contemporary jewelry by a new generation of Black jewelers, digital art created in partnership with FC Barcelona, Hermès handbags, arms and armor associated with Japanese samurai, Michael Jordan’s 1998 NBA Finals Game 1 jersey, a 1955 Ferrari 410 Sport Spider through RM Sotheby’s and luxury real estate through Sotheby’s Concierge Auctions. And I could go on!
Can you share a little more details on your strategy of opening pop-up galleries?
The great thing about having our own galleries is they allow us to bring to life the Sotheby’s experience, which is all about discovery and self-expression—in really beautiful surroundings. We use our galleries to hold fine art and luxury selling exhibitions and host private events, public programming or collaborations with top galleries. Most importantly, of course, they allow us to engage with collectors locally, on their terms, and welcome them into the world of Sotheby’s.
You’ve had successful openings in Palm Beach, Monaco, East Hampton and, most recently, Aspen. How have those openings gone, and what have you learned through the process?
We opened the galleries in Palm Beach and East Hampton in 2020 when travel was restricted during the pandemic. This was our way of taking the best of Sotheby’s offerings directly to the doorsteps of collectors when they couldn’t come to us. The experience was really positive, with great client feedback, so post-pandemic we have continued exploring new locations, and this year we opened permanent galleries in Los Angeles, Monaco and, of course, Aspen.
You’ve introduced a social impact initiative exhibiting works by Brazilian documentary photographer and environmentalist Sebastião Salgado. Why is this an important initiative for Sotheby’s?
We think it’s really important to use the incredible platform and expertise we have to give back. Supporting organizations like Instituto Terra, the Brazilian conservation nonprofit founded by Sebastião and Leila Salgado, is one important way we can do this. This September, we did what we do best: We held a selling exhibition of 50 of Salgado’s monumental works at Sotheby’s New York and hosted a benefit auction as part of our inaugural Social Impact Gala. Instituto Terra is such an amazing cause, and I was really happy to see that we could support them in their mission of conserving and restoring native ecosystems in the Brazilian Atlantic forest.
What’s next on the horizon for the company?
I really feel like we are just getting started. Sotheby’s has a deep and rich heritage stretching back over 278 years, but it is also a business that has never stopped adapting, changing and innovating. I am constantly aware of the need to nurture this rich history while making sure we don’t stop pushing forward. Top of mind for me is staying attuned to our clients’ needs and remaining alert to new opportunities—be it new selling locations like Singapore, where for the first time in 15 years we held our first modern and contemporary sale this summer, or taking auction highlights to new markets such as Bangkok and Venice.
Charles Stewart, CEO of Sotheby’s
Anything else you’d like to share?
Come visit us and discover something new about a work of art or special object. Palm Beach and Aspen, as well as all our other locations, are open and have the best of the best on show.
Photography by: PHOTO COURTESY OF SOTHEBY’S
