| New York Stock Exchange: BID
Sotheby's operates auction houses through which it auctions authenticated fine and decorative art, jewelry and collectibles. The company operates through three segments: Auction, Finance and Dealer. The Auction segment functions principally as an agent by offering authenticated works of art for sale at auction and by brokering private sales of artwork. The Finance segment provides certain collectors and art dealers with financing, secured by works of art it either has in its possession or permits borrowers to possess. This segment makes two types of secured loans: consignor advance and term loan. The Dealer segment principally includes the activities of Noortman Master Paintings, an art dealer specializing that sells works of art from inventory directly to private collectors and museums and, from time-to-time, acts as a broker in private purchases and sales of art. Sotheby's was founded by Samuel baker in 1744 and is headquartered in New York, NY.