Sotheby’s has launched a new global luxury division which will oversee the selling of jewellery and watches.
The move highlights the group’s intentions to delve further into luxury items such as jewellery and watches.
The new division will unite categories like jewellery, watches, wine, cars and ‘experiences’ under one senior executive.
According to Sotheby’s chief executive Tad Smith, the decision was made to further progress the firm’s “strategy to serve clients and provide value for shareholders”.
The auction house appointed Maarten ten Holder as the new managing director for its luxury division.
Holder has been involved in numerous major sales of jewellery including the collections of Charles Wrightsman and Estée and Evelyn H. Lauder, as well as the recent £144 million record-breaking sale of jewellery in Geneva.