Christie's: Guardian of Traditions and Records
Christie's, founded by James Christie in London in 1766, is rightly considered one of the pillars of the global art market. Over its more than 250-year history, the house has earned a reputation as a guardian of tradition, specializing in the sale of the highest class of artworks. It is here that world record prices for paintings and sculptures are often set.
The Christie's auction house has a broad specialization, but certain areas are its hallmark. It is worth entrusting your masterpiece to this house if you own:
- Old Master paintings
- Impressionist and Modern art
- Post-War and Contemporary art
- Jewelry of exceptional rarity and value
- Luxury items, including rare wines and handbags
Christie's reputation is built on impeccable provenance, deep expertise, and access to the wealthiest audience of collectors from around the world. This makes it an ideal choice for selling unique and historically significant items.
Sotheby's: Global Innovator of the Art Market
| Aspect | Christie's | Sotheby's |
| History | Founded in 1766 | Founded in 1744 (oldest) |
| Reputation | Classics, tradition, records | Innovation, global reach, marketing |
| Strengths | Old Masters, Impressionists | Contemporary art, jewelry, real estate |
| Approach | More conservative and academic | More modern and commercially-oriented |
Sotheby's, founded in London in 1744, began as an auction house for rare books. Today, it is a global corporation and the main competitor to Christie's, known for its innovative approach. Sotheby's was the first of the major houses to conduct online auctions, significantly expanding the geography of its clients.
Although both auction giants often compete in the same segments, each has its own strengths. Understanding these differences helps in making the right choice of an auction house.
Sotheby's is actively developing areas such as the sale of collectibles related to sports and pop culture, and also has a strong luxury real estate division, Sotheby's International Realty. This auction house is often chosen by owners of bold and contemporary works.
Phillips: Specialist in 20th and 21st Century Art
Founded in 1796, Phillips was long in the shadow of the 'Big Two.' However, in the 21st century, the house made a rapid ascent, securing a solid third position in the global market. The secret to Phillips' success lies in its narrow and clear specialization in the most current art.
Phillips deliberately focused on 20th and 21st-century art, design, photography, and, most importantly, collectible watches. It is in the wristwatch segment that Phillips de Pury & Company became the absolute leader, setting one world record after another. Paul Newman's legendary Rolex Daytona was sold here for a record $17.8 million.
Phillips' main areas of activity:
- Contemporary Art
- 20th and 21st Century Design
- Photography
- Watches and Jewelry
- Limited Editions and Prints
If your asset is a work by a trendy contemporary artist, an iconic design object, or a rare watch model from Patek Philippe or Rolex, then Phillips will most likely be the best choice. Their expertise in these niches is unparalleled.
How to Choose the Right Auction House?
The process of choosing an auction house to sell a valuable item requires a balanced approach. The wrong decision can cost you a significant portion of your potential profit. To avoid mistakes, it is worth following a few key steps.
Here are the main criteria to consider when choosing a partner for the sale:
- House specialization. Ensure the auction house has a successful track record of selling items similar to yours. Phillips is better for watches, while Christie's excels with Old Masters. Study past auction catalogs.
- Geographical reach. For items of global significance, access to international buyers is crucial. Major houses have offices in New York, London, Hong Kong, and other world capitals, ensuring maximum reach.
- Terms and commission. Carefully review the contract. The seller's commission can vary and is often negotiable, especially for high-value lots. Also, clarify the costs for insurance, cataloging, and marketing.
- Marketing strategy. Ask how the house plans to promote your lot. Will it be included in pre-auction exhibitions, covered in the press, and presented to key collectors? Quality marketing is the key to a high price.
By consulting with experts from several houses and comparing their proposals, you can make an informed decision and entrust your masterpiece to reliable hands.
