In 1917, Sotheby's relocated from 13 Wellington Street to 34–35 New Bond Street, which remains as its London base to this day. They soon came to rival Christie's as leaders of the London auction market, which capitalised on the arts. In 1964, Sotheby's purchased Parke-Bernet, the largest auctioneer of fine art in the United States at the time. In the following year, Sotheby's moved to 980 Madison Avenue, New York. With the international fine art auction industry growing, Sotheby's opened offices in Paris and Los Angeles in 1967, and became the first auction house to operate in Hong Kong in 1973, and Moscow in 1988.