Sotheby's Holdings, Inc. conducts auctions and private sales of fine art, antiques and decorative art, jewelry and collectibles. Auction activities occur primarily in New York and London, but are also conducted elsewhere in Europe, Asia and Australia. In addition to auctioneering, the Company's auction segment is engaged in a number of related activities, including the purchase and resale of art and other collectibles and the brokering of art and collectible purchases and sales through private treaty sales. Sotheby's Holdings' also markets and brokers luxury residential real estate sales through its real estate segment, conducts art-related financing activities through its finance segment and is engaged, to a lesser extent, in art education activities.