The company say changing market conditions rather than cost cutting are behind changes that will see five out of nine offices closed over the coming year.
Michael Bing, managing director at Sotheby’s Olympia, who was charged with conducting the regional review, described the traditional approach to business gathering based around a series of regional outposts as fast becoming an “outmoded concept”.
He hopes to encourage regional representatives to work in a different way without the central focus of an office, actively seeking and visiting clients and working closer with staff in London. Shedding a high street presence would reduce fixed costs, but Mr Bing emphasised that there would be just as many senior members of staff seeking business in the regions.
The process of consultation is ongoing – and an element of flexibility has been built into the planning – but in the short term the closures include the Sotheby’s offices on Castle Street, Salisbury and on Douglas Street, Glasgow. Scottish business will now become focused around Edinburgh.
In the longer term (meaning 2006) a further three offices are scheduled for closure. A more formal announcement will be made to clients over the coming weeks.
Sotheby’s currently have consignment offices in Glasgow, Edinburgh, Dublin, Cheltenham, Tiverton, Newmarket, Harrogate, Billingshurst and Salisbury.
Sotheby’s to shut regional offices as market alters
Following an extensive regional review, Sotheby’s are to close a number of their high street consignment offices.
