Auction — House

Founded in 1766, it manages departments ranging from Old Master Paintings to luxury watches. Sotheby's: A leader in art expertise and market insights. Phillips: Noted for contemporary art and photography. Bonhams: Specializes in antiques, fine art, and motor cars. Types of Items Sold

Experts evaluate "lots" (items for sale) to provide estimated values and set a Suggested Opening Bid (SOB) . auction house

Several high-profile houses handle record-breaking sales of luxury goods and art: Founded in 1766, it manages departments ranging from