Sotheby's has unveiled a brand new permanent retail store in its New York galleries that's dedicated to showcasing the finest assortment of art, design, and luxury items, all available for immediate purchase. The Emporium is the company’s latest expansion of the growing Buy Now online marketplace.
It's the next step in increasing its offering to clients, helping them to buy whatever they want, whenever they want it. With the hybrid e-commerce and in-person retail experience, Sotheby's hopes to further cement its reputation as the pre-eminent luxury and fine art destination.
Speaking on the opening, Josh Pullan, Sotheby’s Head of Global Luxury Division said, “Over the past year we’ve seen enormous growth and transformation within the luxury landscape, as evidenced by the success of online auctions and the response to our Buy Now e-commerce platform.”
“Our newest retail venture in New York, The Emporium, presents a rich assortment of luxury lifestyle goods and fine art that clients can enjoy in person every day and buy instantly” he explained. The online and physical marketplace will be curated by a revolving group of tastemakers and influencers.
The space will also serve as a venue to feature special collaborations, such as the seven exquisitely artisan-crafted chestnut roasters from LOEWE’s new series of decorative objects, LOEWE Weaves, which will be exclusively offered for immediate purchase through Buy Now and The Emporium this month.
Sotheby's has been rapidly expanding our immediate purchase capabilities, both through physical retail spaces — and it's already proving extremely lucrative. Since January 1, their average sold item value is $9,000, with 68% of those buyers being brand new to Sotheby’s. According to their estimations, ”This response immediately positions Sotheby’s as the world’s fastest-growing destination for luxury items.” The Emporium 1334 York Avenue New York City, New York 10021 USA (212) 606-7528