Create a 8 page essay paper that discusses An Investigation of the impact of change on Sotheby's.Download file to see previous pages... 5 Changes in Auctioneering Process…………………………

Create a 8 page essay paper that discusses An Investigation of the impact of change on Sotheby's.

5 Changes in Auctioneering Process…………………………………………………….…. 6 Impact of Technological Changes to Sotheby’s Company ……………………………… 7 Impact of Technological Changes on Buyers and Sellers………………………………… 8 Financial Policy Changes……………………………………………………………….… 8 Conclusion………………………………………………………………………………… 9 Recommendations………………………………………………………………………... 10 Bibliography…………………………………………………………………………….... 12 Impacts of Changes to Sotheby’s Company Introduction and Background Sotheby’s is a multinational corporation that has its origin in Britain, but is currently headquartered in New York. It is one of the world’s largest brokers of decorative and fine arts real estate, jewelry, and collectibles (Innovation, Theories of Art, and Sotheby’s Company 2011, 63). The company divides its operations into three segments. These include finance, Dealer and auction. Among other products and services, the company deals in a range of services including Private Sales to Corporate Art Services. Traditional operations of Sotheby’s Company make it the fourth oldest auctioneering company in continuous operation in over 40 countries and with 90 locations worldwide (Gus 2012, 44). By December 2011, the company boasted of 1446 employees worldwide. Sotheby’s is arguably the world’s largest art enterprise with global sales that totaled up to $5.8 billion in 2011 (Gus 2012, 44). Relative success of the company can be attributed to its efficient mode of operation that it established right from its inception in 1744 in London. The company has maintained a culture of management that looked at the business in three distinct dimensions. The company viewed and treated the business as having the categories of finance, auctions and finance. Sotheby’s is a master at managing timing during biding struggles among wealthy buyers. This is a unique piece of art the company has learnt to perfect and preserve over the years. Auctioneering capabilities of the company has made it become a marketing timer as well. In November 2013, the company’s shares were trading just below the highest level hit in two years. The company announced reviewing its finances and capital allocations in a bid to determine the best options it has of returning capital to shareholders. Terms of reference This report focuses on intricate analysis of the procedures the company uses to acquire and sell the products it involves in. Additionally, the research places emphases on financial changes that the company has developed and how it is expected to change the future of the company. Other than considering the changes that have taken place from the earliest years of the company, the research puts into account dynamics in the design of the business to the latest plans the company has. It is aimed at providing academic reference to academicians and general audiences who have the interest in knowing the development of Sotheby’s as it embraces changes over the decades of its existence. It was compiled and presented on 15, November 2013.