Sotheby's (BID) Announces Acquisition of The Mei Moses Art Indices
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otheby's is pleased to announce the acquisition of The Mei Moses Art Indices, which will now be known as Sotheby's Mei Moses. Widely recognized as the preeminent measure of the state of the art market, the indices use repeat sales - the sale of the same object at different points in time - to track changes in value. Through this acquisition, Sotheby's has unique access to an analytic tool that provides objective and verifiable information to complement the world-class expertise of the Company's specialists.
The indices comprise a constantly updated database of 45,000 repeat sales of objects in eight collecting categories, approximately 4,000 of which change hands each year. The methodology enables Sotheby's to compare the investment performance of Art against various asset classes, analyze its performance against myriad benchmarks and competitors and measure the impact of macro-economic and societal forces on the art market. Sotheby's Mei Moses uses existing data model and computation methodology to ensure consistency of the index.
"The collecting community is increasingly sophisticated and, in many cases, looking to analysis to understand the overall market, individual artist and category trends, the value of their collections, as well as gain insight into the timing of their consignments and purchases," says Adam Chinn, Sotheby's Executive Vice President. "We are very happy to be in a position to provide collectors with proprietary information tailored to their needs, while at the same time helping us identify and examine trends that can inspire further innovations within Sotheby's to better serve an expanding client base."
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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) and France (2001), and the first international fine art auction house in China (2012). Today, Sotheby's presents auctions in eight 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 in real-time 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 private sale opportunities in more than 70 categories, including S|2, the gallery arm of Sotheby's Contemporary Art department, as well as Sotheby's Diamonds and Sotheby's Wine. Sotheby's has a global network of 90 offices in 40 countries and is the oldest company listed on the New York Stock Exchange (BID).
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