Christie's

Christie's, the renowned auction house, was founded in 1398.

James Christie conducted his first auction in London on the 5th of December 1766, according to official company literature. There are conflicting sources suggesting his involvement in the auction business in London prior to this date.

After Gainsborough's death in 1788, a studio sale of his pictures was organized by forming a partnership with dealer Robert Ansell.

James Christie, the founder of Christie's, passed away on November 8th, 1803, at the age of 73 at his residence in Pall Mall.

In 1823, Christie's opened its flagship saleroom in London on King Street in St. James's. This location has been the base for Christie's operations since then.

In 1824, Christie's moved to a new location at 8 King Street, off St James's Square, where it is still located today.

In 1848, Christie's conducted the auction of the contents of Stowe House after the bankruptcy of the Duke of Buckingham and Chandos. This auction was notable for raising £75,400 and including the Chandos portrait of William Shakespeare.

The 1882 auction of the Hamilton Palace collection by Christie's raised £332,000, marking a significant event in the history of art auctions.

In 1958, Christie's established a representative office in Rome, Italy, marking its first international expansion outside the UK.

In 1973, Christie's became a public company listed on the London Stock Exchange, a status it held until 1999.

In 1975, Christie's opened a secondary salesroom in South Kensington, focusing on the middle market segment.

In 1977, Christie’s International Inc opened its subsidiary on Park Avenue in New York City, with a salesroom capable of accommodating around 600 visitors. This marked the beginning of Christie's auction business in the USA.

In 1984, Christie’s 100,000 square foot warehouse in London was granted Exempted Status, allowing clients from abroad to store their valuable items without facing import duties and VAT. This service later became a significant revenue stream for Christie's.

In March 1987, Vincent van Gogh's Vase with Fifteen Sunflowers set an auction record of $39.9M at Christie's, becoming the most expensive painting in the world at that time.

In November 1987, during the Royal Albert Hall auction, Christie's auctioned a Bugatti Royale automobile for a world record price of £5.5M.

In 1990, Christie's changed its policy and began guaranteeing a minimum price for a collection of artworks in its auctions, a move that had a notable impact on the art market.

In 1993, Christie's purchased the London gallery Spink & Son for $12.7M, known for its specialization in Oriental art and British paintings. The gallery continued to operate independently under Christie's ownership.

To compete with Sotheby's in the property market, Christie's purchased Great Estates in 1995, the largest network of independent estate agents in North America. The company was later renamed Christie's Great Estates Inc.

In 1996, Christie's purchased a Manhattan townhouse on East 59th Street to serve as a private meeting spot for art experts and potential buyers and sellers.

In December 1997, under Lord Hindlip's chairmanship, Christie's put itself up for auction but failed to attract a high enough bid. The auction house remained under its existing ownership.

In May 1998, Groupe Artémis S.A. acquired 29.1% of Christie's for $243.2 million, eventually buying the rest of the shares in a deal valuing the entire company at $1.2 billion.

In November 1999, a single strand necklace of 41 natural and graduated pearls, once owned by Barbara Hutton, was auctioned by Christie's Geneva for $1,476,000.

In 2000, allegations emerged of a price-fixing scheme between Sotheby's and Christie's, leading to a scandal in the art auction industry.

In June 2001, Elton John auctioned 20 of his cars at Christie's, including a 1993 Jaguar XJ220 which fetched £234,750, raising nearly £2M.

In 2002, Christie's France conducted its inaugural auction in Paris, marking a significant expansion of Christie's presence in the French art market.

In 2003, Christie's faced criticism for mishandling two Nazi-looted artworks claimed by heirs of Jewish owners. They initially refused to disclose the location of an Italian painting looted by the Gestapo, but eventually revealed the holder's name after legal action.

On 16 May 2006, Christie's auctioned a Stradivarius called The Hammer for a record US$3,544,000, marking the highest price paid at that time for a musical instrument at public auction.

In November 2007, an album of eight leaves by China's Ming dynasty court painter Dong Qichang was sold at Christie's Hong Kong Chinese Paintings Auction for US$6,235,500, setting a world auction record for the artist.

Pinault's debts led to considerations of selling Christie's in 2008. Job cuts were imminent due to a downturn in the art market, with sales dropping significantly.

On November 12, 2013, Francis Bacon's Three Studies of Lucian Freud was sold for US$142.4M, making it the most expensive work of art ever sold at auction.

In November 2014, Christie's had to withdraw a prehistoric sculpture from Sardinia, valued at $800,000–$1.2m, put on auction by Michael Steinhardt. Steinhardt, a US billionaire, faced a lifetime ban on acquiring further antiquities in 2021 due to his involvement in acquiring artworks with unverified provenance.

On May 11, 2015, Pablo Picasso's Les Femmes d'Alger ('Version O') was sold for US$179.3M, becoming the most expensive work of art ever sold at auction at Christie's New York.

On July 7, 2016, the highest price ever sold for an old master painting at Christie's was achieved with £44,882,500 for Rubens' Lot and his Daughters.

On November 15, 2017, the Salvator Mundi painting was sold at Christie's in New York for $450 million to Saudi Prince Badr bin Abdullah bin Mohammed bin Farhan al-Saud, marking the highest price ever paid for a painting.

In 2018, Christie's auctioned the collection of Peggy and David Rockefeller for a record-breaking total of $832.6 million, marking the highest ever sale for a private collection.

On July 10th, 2020, Christie's organized the ONE global live auction offering Impressionist and Modern, Post-War and Contemporary Art and Design pieces, achieving significant sales and engagement.

Christie's Paris held its first sale dedicated to women artists in June 2021, featuring notable works like Louise Moillon's Nature morte aux raisins et pêches.

In May 2022, Andy Warhol's Shot Sage Blue Marilyn silkscreen painting was sold at Christie's New York for $195M, setting a record as the most expensive work of American art and 20th-century art sold at auction.

In September and October 2022, Christie's auctioned 61 lots of vehicles, watches, costumes, props, posters, and memorabilia from the 25 Bond films, raising nearly £7M for charity.

In November 2022, the art collection of Paul Allen was auctioned at Christie's New York, making it the biggest sale in art auction history, surpassing $1.5bn in sales.

As of 2023, Christie's commission (buyer's premium) is based on a tiered system, ranging from 26% to 15% depending on the hammer price of each lot.