Canada’s auctioneers will doubtless welcome this departure. However, Sotheby’s have stressed that they will not be abandoning the Canadian market. The company does not remove the possibility of holding one off sales of important collections. The company will maintain a Toronto team in order to source works held by Canadian collectors for their salerooms in London, New York, Paris and Hong Kong.
David Silcox, Sotheby’s Canada president said “Private sales is the growth area of this business; it’s not the auction part that’s profitable,” he went on to say “We want to operate only at the high level with our highest transacting clients and we’ll be more profitable because of it.”