Sotheby’s Launches Retail Store in New York

RAPAPORT… Sotheby’s will open a retail store in its New York flagship gallery featuring over 5,000 luxury items, including fine jewelry, art, watches and handbags.

The Emporium is an extension of the auction house’s Buy Now online marketplace, which enables shoppers to purchase luxury items whenever they want, Sotheby’s said Monday. The site will offer items at different price points, and buyers will be able to purchase in-store or online.

“Over the past year we’ve seen enormous growth and transformation within the luxury landscape, as evidenced by the success of online auctions and the response to our Buy Now e-commerce platform,” said Josh Pullan, head of global luxury for Sotheby’s. “The Emporium presents a rich assortment of luxury lifestyle goods and fine art that clients can enjoy in person every day and buy instantly.”

A revolving group of tastemakers and influencers will curate the items featured in both the physical and online stores. Makeup artist Gucci Westman, founder of cosmetics line Westman Atelier, will curate the first round of products, which will be available from May 10 to June 10, Sotheby’s noted.

Westman’s picks include several jewelry items, including a gold, platinum and diamond necklace by David Webb, priced at $95,000; a yellow and white diamond cigar band from Sotheby’s Diamonds, valued at $50,000; and a Rolex Kermit Submariner wristwatch with a price tag of $30,000.

The auction house will also use the retail space to feature special collaborations between different artists, it added.

Image: The new Sotheby’s retail store. (Sotheby’s)