Sotheby's Acquires Art Advisory Firm Art Agency, Partners - Quick Facts

(RTTNews) - Sotheby's (BID) announced it has acquired the art advisory firm Art Agency, Partners, managed by Amy Cappellazzo, Allan Schwartzman, and Adam Chinn. Schwartzman and Cappellazzo will join Sotheby's as Chairmen, taking leadership roles in a newly formed Fine Art Division focused principally on 20th and 21st century art. Chinn will assume the role of Worldwide Head of Transaction Support.

Tad Smith, Sotheby's CEO, said: "AAP's profitable business helps drive initiatives that are imperative for Sotheby's growth - improving our leadership position at the high end of the fine art market, bolstering our private sales capability, giving us new growth opportunities in advisory services, and reinforcing the client-first culture in all we do. The AAP leadership team is widely known for its expertise in fine art of the past two centuries, especially in the realm of post-war, contemporary and modern art."