Sotheby’s Reportedly Taps Goldman Sachs, Morgan Stanley to Advise on Potential IPO

Sotheby’s has enlisted Goldman Sachs and Morgan Stanley to advise on a potential public offering of the company, according to a report published by Bloomberg on Thursday. Owned by telecommunications mogul Patrick Drahi, the auction house could be taken public later this year. It may seek a valuation estimated around $5 billion.
When Drahi purchased Sotheby’s for $3.7 billion in June 2019, the deal took the 277-year-old auction house private. It had been a publicly traded company for