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Last Updated:
2024-09-22 08:20:01

Christie's

British auction house founded in 1766
British auction house founded in 1766

Christie's, established by James Christie, operates in major cities worldwide. In 2022, it achieved a record-breaking $8.4 billion in sales. Notably, the Salvator Mundi was sold for $450 million in 2017.

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1398
Christie's Founded

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

1766-12-05
James Christie's First Auction in London

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.

1788
Studio Sale of Gainsborough's Pictures

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

1795
Sale of Madame du Barry's Jewels

In 1795, precious jewels belonging to Madame du Barry, mistress of Louis XV, were sold by Christie.

1803-11-08
Death of James Christie

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

1823
Christie's flagship saleroom opens in London

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.

1824
Relocation of Christie's to 8 King Street

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

1848
Auction of Stowe House contents by Christie's

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.

1882
Auction of Hamilton Palace collection by Christie's

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

1892
First Impressionist Sale by Christie's

In 1892, Christie's organized its first Impressionist sale auctioning Figures dans un Café by Edgar Degas, expanding its offerings to include Modern and Contemporary art.

1958
Christie's Establishes First Office Outside the UK in Rome

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

1973
Christie's Becomes a Public Company

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

1975
Opening of Secondary Salesroom in South Kensington

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

1977
Christie’s International Inc Opens in New York City

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.

1984
Christie’s Fine Art Storage Services (CFASS) Begins

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.

1987-03
Vase with Fifteen Sunflowers Auction

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.

1987-11
Bugatti Royale Auction

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

1990
Christie's guarantees minimum price for artworks

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.

1993
Christie's acquisition of Spink & Son

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.

1995
Acquisition of Great Estates and rebranding as Christie's Great Estates Inc.

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.

1996
Christie's purchases Manhattan townhouse on East 59th Street

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.

1997-12
Attempted sale of Christie's under Lord Hindlip

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.

1998-05
François Pinault's acquisition of Christie's

In May 1998, François Pinault's Groupe Artémis S.A. acquired Christie's, initially purchasing 29.1% of the company for $243.2M and later buying the remaining shares. The deal valued Christie's at $1.2bn.

1999-11
Barbara Hutton's Pearl Necklace Auction

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.

2000
Allegations of price-fixing between Sotheby's and Christie's

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

2001-06
Elton John's Car Auction

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.

2002
First auction by Christie's France in Paris

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

2003
Christie's handling of Nazi-looted artworks

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.

2006-05-16
Auction of Stradivarius 'The Hammer'

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.

2007-11
Dong Qichang's Chinese Paintings 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.

2008-12-28
Financial Troubles at Christie's

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.

2009
Christie's Fine Art Storage Services (CFASS) in Singapore FreePort

Since 2009, Christie’s CFASS has been operating in the Singapore FreePort, occupying 40% of the total space to serve clients globally.

2010
Opening of Christie's Fine Art Storage Services (CFASS) in Red Hook, Brooklyn

The warehouse in Red Hook, Brooklyn, converted by Christie's into a high-security and climate-controlled facility for CFASS, opened in 2010 with 250,000 square feet of storage space.

2012
Flooding of Christie's Fine Art Storage Services (CFASS) in Red Hook, Brooklyn

In 2012, the CFASS building in Brooklyn was flooded during Hurricane Sandy due to its proximity to the Upper Bay tidal waterway, experiencing at least one storm surge.

2013-11-12
Francis Bacon's Three Studies of Lucian Freud

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.

2014-11
Christie's withdraws prehistoric sculpture from Sardinia 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.

2015-05-11
Pablo Picasso's Les Femmes d'Alger ('Version O')

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.

2016-07-07
Rubens' Lot and his Daughters

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.

2017-11-15
Salvator Mundi sold for $450 million at Christie's

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.

2018
Auction of Peggy and David Rockefeller Collection

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.

2020-07-10
ONE Global Live Auction

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.

2021-06
Dedicated Sale to Women Artists at Christie's Paris

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.

2022-05
Andy Warhol's silkscreen painting Shot Sage Blue Marilyn sold at Christie's New York

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.

2022-09
James Bond film franchise auction at Christie's

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.

2022-11
Art collection of Microsoft co-founder Paul Allen auctioned at Christie's New York

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.

2023
Current Commission Structure at Christie's

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.

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Christie's
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