Soravia brothers exit Dorotheum in €400 million auction house deal

The Soravia brothers have sold their near-30% stake in Dorotheum, Austria’s leading auction house. The deal, completed on December 1, values the company at roughly €400 million. The sale follows financial pressures in their main business, real estate. Erwin and Hanno Soravia, founders of the Soravia Group, have offloaded their shares for around €120 million. Their decision comes as the property sector faces ongoing liquidity challenges. The brothers’ primary focus remains their real estate empire, which has struggled in recent market conditions.

Dorotheum’s valuation reflects its strong position in the auction and pawnbroking industries. A major profit driver has been Affide, its Italian pawnbroking arm. The buyers include prominent figures like media entrepreneurs Christoph and Johanna Dichand, investor Michael Tojner, and Dorotheum’s own CEOs, Lucas Tinzl and Martin Böhm.

The transaction marks a significant shift in Dorotheum’s ownership structure. The Soravias’ exit injects fresh capital into the auction house while easing pressure on their real estate ventures. The new shareholders now hold a combined stake previously controlled by the brothers.