Sothebys : Marc Porter Appointed Chairman of Sotheby's Fine Art Division

London | +44 207 293 6000 | Mitzi Mina | Mitzi.Mina@Sothebys.com |

MARC PORTER APPOINTED CHAIRMAN OF SOTHEBY'S FINE ART DIVISION

Seasoned Executive Will Lead

Sotheby's Business Development Strategy Globally

NEW YORK, 12 January 2017 - Sotheby's (NYSE: BID) is delighted to announce the appointment of Marc Porter as Chairman of the Fine Art Division. The respected executive will join his fellow Fine Art Division chairs, Allan Schwartzman and Amy Cappellazzo, in growing Sotheby's global specialist departments and advisory businesses. In addition, he will lead the Company's business development strategy on a global basis. Based in New York, Marc begins at Sotheby's on 17 January.

"With more than 25 years in the art market,

Marc is uniquely suited to take on an important leadership role at our company," said Tad Smith Sotheby's CEO. "Coupled with his experience and excellence serving clients, his business acumen nicely complements our superb team of specialists around the world."

Marc Porter commented, "Sotheby's is at the forefront of many of the most dynamic changes happening in today's art market, and the combination of our expansion into new services and capabilities, with established leadership and an outstanding and committed team, makes it a particularly exciting time to join."

Prior to joining Sotheby's, Marc Porter spent 25 years at Christie's in a variety of roles, including as Chairman and President of Christie's America. As principal deal-maker, he played a crucial role in securing many of the most important collections and individual works of art to appear on the market in recent memory. Other noteworthy accomplishments during Marc's tenure include launching a successful global private sales division, pioneering online sales, and mediating a number of high- profile restitution cases.

Marc Porter began his career at Proskauer Rose LLP. He currently serves as a Trustee of the New York Botanical Garden and the National Museum of American Jewish History, where he is Chair of the Committee on Exhibitions. Marc received his B.S. in Economics and his B.A. from The University of Pennsylvania and holds a law degree from Yale Law School.

You can learn more about Marc here.

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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 presents auctions in 10 different salesrooms, including New York, London, Hong Kong and Paris, and Sotheby's BidNow program allows visitors to view all auctions live online and place bids from anywhere in the world. Sotheby's offers collectors the resources of Sotheby's Financial Services, the world's only full-service art financing company, as well as the collection advisory services of its subsidiary, Art Agency, Partners. Sotheby's presents private sale opportunities in more than 70 categories, including S|2, the gallery arm of Sotheby's Global Fine Art Division, and two retail businesses, Sotheby's Diamonds and Sotheby's Wine. Sotheby's has a global network of 80 offices in 40 countries and is the oldest company listed on the New York Stock Exchange (BID).

*Estimates do not include buyer's premium. Prices achieved include the hammer price plus buyer's premium and are net of any fees paid to the purchaser where the purchaser provided an irrevocable bid.

Images are available upon request

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