NEW YORK, NEW YORK, UNITED STATES, June 1, 2022 /EINPresswire.com/ -- Concierge Auctions, the leading global luxury real estate auction marketplace, today announced the company’s rebrand as Sotheby’s Concierge Auctions, following the firm’s joint partnership acquisition by Sotheby’s, the world’s premier destination for fine art and luxury goods, and Realogy Holdings Corp (NYSE: RLGY), the largest full-service residential real estate services company in the United States (also rebanding to Anywhere Real Estate Inc. by end of second quarter 2022).
The new name and brand further aligns the leaders in auction and real estate in their commitment to accelerate the future growth of the luxury real estate auction marketplace.
“Sotheby’s and Realogy are two of the most established and renowned companies in the industries that we serve—real estate and auction. Since our acquisition in November, we have become part of an even greater vision. As we continue to evolve and enter this next stage of growth, we look forward to continuing to service all brands and clients worldwide, now better than ever before through these additional resources and reach,” said Laura Brady, Sotheby’s Concierge Auctions Co-Founder and Chief Executive Officer.
The new brand, Sotheby’s Concierge Auctions, combines the 14-year recognition of Concierge Auctions as the leading global luxury real estate auction marketplace with the established history of Sotheby’s as the world-leader in luxury auctions, all while keeping real estate agents at the center.
“I am excited to see the rebrand to Sotheby’s Concierge Auctions. As our partnership deepens, we have a real opportunity to further develop the luxury real estate auction market together. The finest luxury items in the world are sold at auction, so expanding the offering to include real estate, while bringing Sotheby’s fine art and luxury auction expertise, including online auctions, to the benefit of our clients is a key focus,” said Charles F. Stewart, Sotheby’s CEO.
Sotheby’s Concierge Auctions will continue to operate independently and partner with real estate agents affiliated with the industry’s leading brokerages. Offering an enhanced method for buying and selling the world’s finest homes, the firm has partnered with leading brokerages around the world, including Sotheby's International Realty, Coldwell Banker, Corcoran, Better Homes and Gardens, ERA Real Estate, Berkshire Hathaway HomeServices of America, Engel & Völkers Americas and Canada, Who's Who in Luxury Real Estate, Leverage Global Partners, Naef Prestige Knight Frank, and more.
“The global power of the Sotheby’s name is extraordinary, and we have witnessed that power firsthand as Sotheby’s and Realogy have, together, fueled the tremendous growth of our Sotheby’s International Realty brand,” said Ryan Schneider, Realogy Chief Executive Officer and President. “As we continue to invest in and grow Realogy’s lead in luxury real estate, we are excited by Sotheby’s Concierge Auctions enabling all real estate agents and clients to digitally navigate the high-end property market worldwide.”
Luxury auctions is a growing sector of the real estate industry, particularly at the high-end, where a more limited buyer pool exists and properties can be harder to value and sell. Sotheby’s Concierge Auctions brings predictability and liquidity for sellers in an accelerated time frame and is designed to work with real estate agents as trusted advisors, not disintermediate them. In fact, the company has never auctioned a property without working in partnership with a local real estate broker. With an extensive network of independent luxury agents and high-net-worth clients, Sotheby’s Concierge Auctions' technology platform serves as an additional tool for agents to market and sell unique, one-of-a-kind luxury properties around the world.
"We founded Concierge Auctions in 2008 with a vision to enhance the way luxury properties are bought and sold. We look forward to continuing to evolve the industry as Sotheby’s Concierge Auctions, harnessing the power of our database, technology, extensive agent network, and experienced Advisory Board,” said Brady, adding, “As part of our growth initiatives, we’re doubling down on our Agent Advisory Board and commitment to all brands.”
“This is a major accomplishment for the company, our team, agent partners, and clients. And, we have so much opportunity ahead. Above all, what I’m most excited about is how far Key For Key® will go as a result of this milestone and the growth ahead,” added Chad Roffers, Co-Founder and President of Sotheby’s Concierge Auctions.
In partnership with Giveback Homes, Sotheby’s Concierge Auctions’ Key For Key® giving model has guaranteed that a home is paid for and built for a family in need for every home the firm sells.
Sotheby’s Concierge Auctions will continue to operate independently under the leadership of Brady and Roffers alongside a Board of Directors of Realogy and Sotheby’s executives, including from Realogy, Charlotte Simonelli, EVP and CFO, and from Sotheby’s, Charles F. Stewart, CEO, and Jean-Luc Berrebi, CFO. The Board is chaired by Philip A. White, CEO and President of Sotheby's International Realty, a Realogy brand.
The Concierge Auctions name will be fully retired by August 1, 2022.
About Sotheby’s Concierge Auctions
Sotheby’s Concierge Auctions is the world’s largest luxury real estate auction marketplace, with a state-of-the-art digital marketing, property preview, and bidding platform. The firm matches sellers of one-of-a-kind homes with some of the most capable property connoisseurs on the planet. Sellers gain unmatched reach, speed, and certainty. Buyers receive curated opportunities. Agents earn their commission in 30 days. In November 2021, the firm was acquired by Sotheby’s, the world’s premier destination for fine art and luxury goods, and Realogy Holdings Corp., the largest full-service residential real estate services company in the United States, holding a joint 80 percent ownership stake. Sotheby’s Concierge Auctions continues to operate independently, partnering with real estate agents affiliated with many of the industry's leading brokerages to host luxury auctions for clients. Since Sotheby’s Concierge Auctions’ inception in 2008, it has generated billions of dollars in sales, broken world records for the highest-priced homes ever sold at auction and conducted auctions in 46 U.S. states and 32 countries. The firm owns one of the most comprehensive and intelligent databases of high-net-worth real estate buyers and sellers in the industry, and it has committed to build more than 300 homes through its Key For Key® giving program in partnership with Giveback Homes™, which guarantees that for every property the company sells, a new home is funded for a family in need. For more information, visit CASothebys.com.
About Sotheby’s Concierge Auctions Agent Advisory Board
The Sotheby’s Concierge Auctions Agent Advisory Board is an esteemed group of real estate industry leaders, who have billions of dollars combined in global luxury sales. A ‘think tank’ on the state of luxury real estate sales and marketing, the agents and brokers on the Sotheby’s Concierge Auctions Advisory Board meet to discuss market trends and predictions, share marketing insights and strategies, and guide Sotheby’s Concierge Auctions, particularly with its relationship to the brokerage community. These esteemed Advisory Board members work with global high-end clients, and have extensive familiarity with the luxury auction process as well as a proven track record with Sotheby’s Concierge Auctions. Board members include: Frank Aazami, Russ Lyon Sotheby's International Realty Private Client Group, Scottsdale, Arizona; Matt Beall, Hawaii Life Real Estate Brokers, Christie’s International Real Estate/Luxury Portfolio International, Princeville, Hawaii; Paul Benson, Engel & Völkers, Park City, Utah; Kyle Crews, Allie Beth Allman & Associates, Leading Real Estate Companies of the World®/Luxury Portfolio International®, Dallas, Texas; John McMonigle, McMonigle Team, Orange County/Newport Beach, California; Billy Nash, Nash Luxury at Illustrated Properties, Palm Beach, Florida; Seth O'Byrne, COMPASS, San Diego, California; Kristen Routh Silberman, Corcoran Global Living, Las Vegas, Nevada; Lourdes Alatriste, Douglas Elliman, Miami, Florida; Brad Hermes, Douglas Elliman, Houston, Texas; and John-Mark Mitchell, Mitchell Prime Properties, Winston-Salem, North Carolina.
About Sotheby’s
Established in 1744, Sotheby's is the world's premier destination for art and luxury. Sotheby's promotes access, connoisseurship and preservation of fine art and rare objects through auctions and buy-now channels including private sales, e-commerce and retail. Our trusted global marketplace is supported by an industry-leading technology platform and a network of specialists spanning 40 countries and 50 categories, which include Contemporary Art, Modern and Impressionist Art, Old Masters, Chinese Works of Art, Jewelry, Watches, Wine and Spirits, and Interiors, among many others.
About Realogy Holdings Corp.
Realogy (NYSE: RLGY) is moving the real estate industry to what's next. As the leading and most integrated provider of U.S. residential real estate services encompassing franchise, brokerage, relocation, and title and settlement businesses as well as a mortgage joint venture, Realogy supported approximately 1.5 million home transactions in 2021. The company's diverse brand portfolio includes some of the most recognized names in real estate: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby's International Realty®. Using innovative technology, data and marketing products, high-quality lead generation programs, and best-in-class learning and support services, Realogy fuels the productivity of its approximately 196,200 independent sales agents in the U.S. and approximately 136,400 independent sales agents in 118 other countries and territories, helping them build stronger businesses and best serve today's consumers. Recognized for eleven consecutive years as one of the World's Most Ethical Companies, Realogy has also been designated a Great Place to Work four years in a row, named one of LinkedIn's 2022 Top Companies in the U.S., and honored on the Forbes list of World's Best Employers 2021.