Sotheby’s, a global website of art and luxury goods, and Realogy Holdings Corp. (NYSE: RLGY), the largest real estate rental company in the United States, today announced the takeover of Concierge Auctions, the largest in the world luxury real estate market. Under the deal, Sotheby’s and Realogy will have an 80% stake in Concierge Auctions, while the founders of Chad Roffers and Laura Brady remain President and CEO of the Judiciary. Concierge Auctions will operate independently, continuing to partner with real estate companies as well as many of the industry’s leading retailers to receive luxury auctions online for customers. A new Board of Directors will be formed at Sotheby’s with Logogy led by Philip White, General Manager and Director of Sotheby’s International Realty, the Realogy brand. Financial terms were not released.
An online auction is a growing segment of the real estate market, especially upstairs, where there is a retail pool and it can make it difficult to buy and sell items. Concierge Auctions, founded in 2008, creates instant visibility and sales for clients and is designed to work with real estate as a trusted consultant, rather than compromising them. Co-founders Roffers and Brady even worked as approved landlords, and the company never sold the property without working with a real estate agent. With a large network of independent distributors and leading vendors, Concierge Auctions ’technology platform serves as one of the leading advertising and marketing services, unique high-end buildings worldwide.
In 2020, Concierge Auctions reported earning more than $ 3 billion in bidding competitions and a $ 3.5 million real estate purchase. And, just this year, the company entered the fourth-highest award for the single-family home sold at auction and sale of Villa Florence, one of the most expensive homes in the world, listed for sale. $ 165. million. Early world records included the sale of Villa Passalacqua in Lake Como, Italy (listed 100 million); Playa Vista Isle in Hillsboro Beach, Florida (repaid $ 159 million); and Walnut Location in Dallas, Texas (valued at $ 48.9 million).
With Realogy’s more than 300,000 global facilities integrated into six sectors, including Sotheby’s International Realty®, Corcoran®, and Coldwell Banker®, Concierge Auctions will benefit from increased share, growth, and business data, as well as market development images of symbols and symbols, represent. Sotheby’s Concierge Auctions will offer a wide range of marketing services, including online solutions and online auctions, and internet access incomparable global retailers of luxury goods and services.
About Realogy Holdings Corp.
Realogy (NYSE: RLGY) takes the real estate business to the next level. As America’s leading and fully integrated real estate services consortium, including franchising, real estate, renovations, and real estate and business systems and joint ventures, Realogy has supported 1.4 million real estate sales by 2020. Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby’s International Realty®. Using state-of-the-art technology, information and marketing, best-in-class marketing programs, and excellent in-class training and support services, Realogy supports the creation of nearly 191,700 independent sales representatives in the United States and more than 135,000 independent sales representatives. 117 other countries and territories, helping them to build stronger businesses and better serve consumers today. Known as the best company in the world for ten years in a row, Realogy has renamed the best place in the world for four consecutive years, one of LinkedIn’s best companies in the US in 2021, and was honored in the list of Forbes’ best in the world. Employees 2021.
Founded in 1744, Sotheby’s was the world’s first luxury place. Sotheby’s promotes the capability, reduction, and protection of rare types and images through auctioning and sales – these methods include independent marketing, e-commerce, and marketing. Our global market is supported by an industry-leading technology organization and a professional network of 40 countries and 50 states, including contemporary art, contemporary, and impressionist art, old masters, Chinese artwork, jewelry, watches, wine, and spirits. , and Interiors, among many others.