Sotheby's Investor Presentation Deck

THE ART MARKET IS GLOBAL, SO IS SOTHEBY'S Seattle San Francisco Investor Briefing: April 2019 Los Angeles. Dallas Monterrey Minneapolis Chicago St. Louis • Houston Mexico City Toronto ● New York Philadelphia Washington DC Palm Beach Caracas Sao Paulo Rio de Janeiro Buenos Aires Edinburgh Lille Oslo Lisbon Brussels and Luxembourg Copenhagen Hamburg Berlin Helsinki Cologne Amsterdam London. Bordeaux Madrid Paris. Geneva. Stockholm Prague 5 Milan Lyon Marseille Monte Carlo Munich Lugano Vienna Florence Rome Athens Cairo Moscow Istanbul Doha Dubai Mumbai Hong Kong Kuala Lumpur Bangkok Singapore Beijing Jakarta Seoul Shanghai Taipei Manila Tokyo 80 OFFICES AROUND THE WORLD Sotheby's

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