Story Highlight
– Sotheby’s appoints James Marks as global head of private sales.
– Focus on relationships with key clients year-round.
– Marks will enhance fixed-price watch transaction services.
– Sotheby’s currently offers over 1,200 watches for sale.
– Private sales grow alongside online retail capabilities.
Full Story
Sotheby’s is enhancing its fixed-price watch services with the recruitment of James Marks as the global head of private sales and retail. In this newly created position, Marks will prioritise ongoing engagement with important clients who frequently buy and sell watches.
In essence, he will act as a personal concierge, utilising his expertise to cater to a discerning clientele that may prefer the convenience of fixed-price transactions over the unpredictability of traditional auctions.
Operating from Geneva, Marks will report to Josh Pullan, the global head of Sotheby’s luxury division. He will collaborate closely with the watch team, led by chairman Sam Hines and global head Geoff Hess, to facilitate growth, explore new markets, and establish a clear strategy for enhancing Sotheby’s retail offerings.
Fixed-price sales are emerging as a significant growth area within Sotheby’s retail sector. The auction house currently features 1,256 watches for sale online, with 1,045 available under “Buy Now” or “Private Sale” options, thereby competing with established pre-owned and vintage marketplaces.
These offerings include timepieces that may not meet the criteria for inclusion in larger spring and autumn auctions yet receive the same rigorous standards of assessment regarding their condition and authenticity.
In addition to its online platform, Sotheby’s aims to provide a bespoke service to its most valued clients. Marks previously held the role of chief executive officer at Biver Watches, a start-up in the independent watch sector. His background also includes six years at Phillips, where he was deputy chairman for the Watches Division and international head of Phillips Perpetual, managing both the retail and e-commerce aspects of its private sales.
