Press Release

Sotheby’s Forms Strategic Partnership With Alexander Klabin To Accelerate the Growth of Sotheby’s Financial Services

New York

NEW YORK, 23 September 2020 - Sotheby's today announced a strategic partnership with Alexander Klabin to significantly accelerate the growth of Sotheby's Financial Services (SFS) - the world's only full-service art financing company.

Under the terms of this partnership, Klabin will make a financial investment in Sotheby's and will serve as Executive Chairman of Sotheby's Financial Services. In this new role, Klabin will be responsible for building and leading an expanded executive management team to help SFS further modernize its underwriting processes, improve its access to capital markets, and develop innovative financing solutions.

Established more than three decades ago, Sotheby's Financial Services offers straightforward, swift financing against collections of all types. Sotheby's network of in-house specialists provides knowledgeable valuations spanning both fine art and luxury goods, while its dedicated lending team develops tailored financing terms.

Alexander Klabin said: "Sotheby's is a special company that sits at the center of culture and commerce. Its proprietary data, specialized knowledge, and global relationships put it in an advantaged position to offer its clients a broad range of flexible financing solutions and services tailored to their bespoke needs. I'm excited to partner with the talented Sotheby's team to accelerate the future of authenticated asset-based finance."

Charles F Stewart, Sotheby's CEO, said: "Alex shares our vision of expanding the financing solutions we can offer to our clients and leveraging technology more effectively to develop new financial products for collectors. This partnership will enhance our ability to provide clients with state-of-the art capital solutions and responsive and comprehensive client service."

About Alexander Klabin
Alexander Klabin is former Managing Partner, Co-Founder and Co-Chief Investment Officer of Senator Investment Group LP. He is an entrepreneur whose new company, Ancient. will be launching in early 2021.

Derek Parsons
+1 212 606 7176

About Sotheby's
Sotheby's has been uniting collectors with world-class works of art since 1744. Sotheby's became the first international auction house when it expanded from London to New York (1955), the first to conduct sales in Hong Kong (1973), India (1992) and France (2001), and the first international fine art auction house in China (2012). Today, Sotheby's has a global network of 80 offices in 40 countries and presents auctions in 10 different salesrooms, including New York, London, Hong Kong and Paris. Sotheby's offers collectors the resources of Sotheby's Financial Services, the world's only full-service art financing company, as well as Advisory services for collectors. museums, corporations, artists, estates and foundations. Sotheby's presents private sale opportunities in more than 70 categories, including three retail businesses: Sotheby's Wine, Sotheby's Diamonds, and Sotheby's Home. the online marketplace for interior design.

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