- published: 16 Apr 2012
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Christie's is an art business and a fine arts auction house, and currently the world's second largest, after Sotheby's, with sales in 2011 some $5.7 billion.
The official company literature states that founder James Christie conducted the first sale in London, England, on 5 December 1766, and the earliest auction catalogue the company retains is from December 1766. However, other sources note that James Christie rented auction rooms from 1762, and newspaper advertisements of Christie's sales dating from 1759 have also been traced.
Christie's soon established a reputation as a leading auction house, and took advantage of London's new found status as the major centre of the international art trade after the French Revolution.
Christie's was a public company, listed on the London Stock Exchange from 1973 to 1999, after which it was taken into private ownership by Frenchman François Pinault.
On 28 December 2008, The Sunday Times reported that Pinault's debts left him "considering" the sale of Christie's and that a number of "private equity groups" were thought to be interested in its acquisition. In January 2009, Christie's was reported to employ 2,100 people worldwide, though an unspecified number of staff and consultants were soon to be cut due to a worldwide downturn in the art market; later news reports said that 300 jobs would be cut. With sales for premier Impressionist, Modern, and contemporary artworks tallying only $US248.8 million in comparison to $US739 million just a year before, a second round of job cuts began after May 2009 when the auction house was still reported to employ 1,900 people worldwide. One of the auction house's "rainmakers" in the sale of Impressionist and Modern art, Guy Bennett, resigned from the auction house just prior to the beginning of the summer 2009 sales season. Although the economic downturn has encouraged some collectors to sell art, others are unwilling to sell in a market which may yield only bargain prices.
Christie can refer to:
Pablo Diego José Francisco de Paula Juan Nepomuceno María de los Remedios Cipriano de la Santísima Trinidad Ruiz y Picasso, known as Pablo Picasso (Spanish pronunciation: [ˈpaβlo piˈkaso], 25 October 1881 – 8 April 1973), was a Spanish painter, sculptor, printmaker, ceramicist, and stage designer who spent most of his adult life in France. One of the greatest and most influential artists of the 20th century, he is widely known for co-founding the Cubist movement, the invention of constructed sculpture, the co-invention of collage, and for the wide variety of styles that he helped develop and explore. Among his most famous works are the proto-Cubist Les Demoiselles d'Avignon (1907), and Guernica (1937), a portrayal of the German bombing of Guernica during the Spanish Civil War.
Picasso, Henri Matisse and Marcel Duchamp are commonly regarded as the three artists who most defined the revolutionary developments in the plastic arts in the opening decades of the 20th century, responsible for significant developments in painting, sculpture, printmaking and ceramics.