Realogy Holdings Corp. (NYSE:RLGY) and Sotheby's acquired a 80% stake in Concierge Auctions, LLC on November 17, 2021. Under the terms of the agreement, Sotheby's and Realogy will take a joint 80% ownership stake in Concierge Auctions, while company co-founders Chad Roffers and Laura Brady will remain President and Chief Executive Officer, respectively. Concierge Auctions will operate independently, continuing to partner with real estate agents affiliated with many of the industry's leading brokerages to host luxury online auctions for clients. A newly formed Board of Managers will be made up of Sotheby's and Realogy executives and chaired by Philip White, CEO and President of Sotheby's International Realty, a Realogy brand. Stifel served as financial advisor to Concierge Auctions, and Locke Lord LLP served as legal advisor to Concierge Auctions and Sean Windsor of BDO USA Provided financial due diligence to Concierge Auctions, LLC in its sale.

Realogy Holdings Corp. (NYSE:RLGY) and Sotheby's completed the acquisition of a 80% stake in Concierge Auctions, LLC on November 17, 2021.