Christie’s is a British auction house founded by James Christie in 1766. Today, the company is owned by Groupe Artémis (François-Henri Pinault’s holding company).
Christie’s main premises in Europe are located on King Street, St James’s in London, UK. In North America, the main premises are found inside the Rockefeller Center in New York City, USA.
In November 2017, a work of art auctioned out by Christie’s in New York broke the world record for most expensive painting as it sold for $400 million in hammer price + $50.3 million in fees. The painting was “Salvator Mundi” by Leondardo da Vinci and the buyer was identified as Saudi Arabian prince Badr bin Abdullah, acting on behalf of Crown Prince Mohammed bin Salman and Abu Dhabi’s Department of Culture and Tourism which runs the Louvre Abu Dhabi.
Commissions
From 2013, Christie’s charges a 25% commission on the first $75,000, 20% on the part between $75,001 and $1.5 million, and 12% on anything remaining above $1.5 million.
Christie’s Fine Art Storage Services (CFASS)
Christie’s Fine Art Storage Services (CFASS) is a subsidiary of Christie’s. It has its roots in a 100,000 square feet brick warehouse in London that in 1984 was granted Exempted Status by HM Revenue and Customs, meaning that property could be brought into the UK from abroad to be stored there without incurring import duties and VAT.
Christie’s Images
Christie’s Images is a picture library for the auction house. This archive includes several million fine art and decorative art images of items sold through Christie’s. Christie’s Images have one office in London and another one in New York City.
Art Loss Register
Christie’s is one of the shareholders in the London-based Art Loss Register, a privately owned database that law enforcement services around the globe can use to trace stolen art.
Christie’s Education
This is the educational branch of Christie’s.
- Graduate programs, Undergraduate programs and Art Business Certificates are available in London and New York City. The college in London is accredited by the University of Glasgow, while the college in New York is accredited by the New York State Board of Regents.
- Nondegree programs are available in London, New York City, Paris and Melbourne.