The past decade has been one of major change in the auction business. With massive wealth generation occurring in China, the industry's center of gravity has shifted from the United States and Europe to Asia, where three of the five largest auction houses now sit. Sotheby's, which has been in business since 1744, has remained one of the two largest auction houses by capitalizing on new technologies and the globalization of the art trade. William Ruprecht, president and CEO of Sotheby's, spoke at Yale SOM on October 18 as part of the Leaders Forum lecture series. He has led Sotheby's since 2000, seeing the company through the aftereffects of a price-fixing scandal, a financial crisis, and dramatic shifts in the art market. Last year marked the second-most-profitable year since the company's founding in 1744. View the entire video at [ Ссылка ]
