 In 1929, The Association merged with the Anderson Auction Company to form the American Art Association-Anderson Galleries, Inc.In August 1938, the firm was bought from Bishop's estate by Parke-Bernet Galleries, which had been formed a year earlier by Bishop's former auctioneers.In 1964, Sotheby's purchased Parke-Bernet, then the largest auctioneer of fine art in the United States.