Sotheby’s Opens India Outpost to Capitalize on Growing Base of Wealthy Collectors
Robin Woodhead, chairman of Sotheby’s International, will announce strategic appointments in the company’s Indian business operations along with the opening of a new office in Mumbai on September 1.
Edward Gibbs has been appointed chairman of Sotheby’s India, Middle East, and North Africa, and Priyanka Mathew is being appointed regional director of Sotheby’s India.
For the last five years, Mathew has been Sotheby’s New York-based international senior specialist in modern and contemporary South Asian art. Meanwhile Gibbs, along with specialist Yamini Mehta has been overseeing the India and Islamic Art Week that takes place in early October in London, now in its second year.
In a statement, Sotheby’s said the move demonstrates the company’s commitment to providing a greater level of service to its clients based in the country. “By opening an office in India, the company will be able to increase the scale and scope of its activities in the country and support a full calendar of events, lectures, exhibitions, and charity sales.”
The announcement coincides with Sotheby’s preview in Mumbai of highlights from its upcoming London October sale of modern and contemporary South Asian art. The preview will take place at the Taj Mahal Palace Hotel in Mumbai.
According to the statement, Sotheby’s said it has been “active” in India for almost three decades, working with collectors and holding regular events in New Delhi and Mumbai. Sotheby’s was the first international auction house to hold an auction in India, a sale of Indian, European, and Oriental paintings that took place in October 1992.
Sotheby’s noted ever increasing auction participation from a growing Indian client base and said the value of purchases by Indian clients at Sotheby’s has grown, on average, by 42 percent per year over the past five years.
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