It has been a busy 18 months for luxury players and ad agencies. First, Christie's hired Bartle Bogle Hegarty, then Tiffany tapped Ogilvy & Mather, and now Sotheby's has hired TBWA.
TBWA\London will handle creative responsibilities for the auction house globally, including in core markets like the U.S., U.K. and China.
Media spending on the assignment is relatively modest at an estimated $15-20 million, but Sotheby's is the kind of high-end brand that agencies love to be associated with. As TBWA\London CEO Rich Stainer put it: "Sotheby's is an iconic brand with an incredible legacy."
The business came without a pitch and after the Omnicom Group agency did project work for Sotheby's. The shop is developing a global image campaign and will create ads and other marketing around key auctions.
In making the hire, Alfredo Gangotena, CMO of Sotheby's, cited TBWA's experience in building iconic global brands. The agency's global accounts include Apple, Nissan and Energizer.