Sotheby’s may soon be dropping the hammer on its own sale.
The New York auction house on Monday made a surprise announcement that 17-year Chief Financial Officer William Sheridan was resigning and that a Goldman Sachs deal maker would replace him.
The appointment of Patrick McClymont comes as several activist hedge funds have lined up on the New York company’s doorstep, pushing for change.
The activists want the company to consider several alternatives — with the most likely, according to a source close to one of them, being a search this year for a buyer.
“There is a [developing] game plan, and Sotheby’s needed someone to execute that plan,” this person said.
Around Labor Day, the activists and Sotheby’s reached an understanding on this plan, this source said.
Sothbey’s spokesman Andrew Gully denied the management change had anything to do with the activists swarming the company, and said Sheridan and Sotheby’s “came to a mutual agreement” that he step down.
But a Sotheby’s shareholder told The Post he also viewed the new hire as most likely a result of the activists’ pressure.
Dan Loeb’s Third Point, Mick McGuire’s Marcato Capital and Nelson Peltz’s Trian are among the activists.
At a New York investing conference last week, McGuire, whose San Francisco firm has a 6.6 percent stake, said he was “pleased” with the company’s recent letter to shareholders announcing the board’s plan to review their strategies.
McGuire declined The Post’s request to discuss specific proposals Marcato has made to Sotheby’s.
To be sure, it could be hard to find a suitor for he auction house, as it is now trading at 14 times EBITDA. Private equity firms, at least, do not pay that high a price.
Sotheby’s closed Monday up 0.7 percent to $47.57.