Are art auction houses the new luxury boutiques?

The Emporium is next phase illustration of Sotheby's shift to pre-owned luxury by offering a less intimidating entry point for less experienced collectors. Photo: AFP

Now you no longer have to go to Sotheby's New York auction rooms to get your hands on a Rolex or a Claire Van Vliet painting. The house helmed by Patrick Drahi has just inaugurated The Emporium, a new point of sale in New York combining art, design and luxury goods.

This new boutique, located in the Upper East Side galleries of Sotheby's, allows any buyer to acquire rare objects, jewellery and other luxury items without the usual hustle and bustle of auction houses. They can browse through paintings by Justin McCarthy and Monique van Genderen, as well as porcelain sculptures by Matthew Solomon and an engagement ring topped with a 4-carat yellow diamond.