James Christie, a Scotland-born UK auctioneer, was the one to found Christie’s auction house on December 5th, 1766, in London, England. It started as a studio for prominent artists’ auction sales and evolved into something much bigger. Namely, after handling a number of important art auctions, such as the one where sir Robert Walpole’s painting collections were sold to Catherine the Great of Russia in 1778, Christie’s quickly established itself as a renowned auction house. That led to capitalizing on London’s newfound prominence as a major international art trade hub during the French Revolution.
Following his father’s death in 1803, James Christie II, a specialist in ancient Greek and Italian art, took over the business. It stayed as a private company until 1973 when it went public, and then it was bought by Francois Pinault, a French businessman and a mega art collector, in 1999.
In the late 1950s, they expanded from London — first was a new office in Rome in 1958; then, one in Geneva (1968) and one in Tokyo (1969). Nowadays, they have offices all over the world — from Singapore to the USA.
Christie’s is a world-leading art and luxury business with a physical presence in 46 countries throughout the Americas, Europe, Middle East, and Asia Pacific, and flagship international sales hubs in New York, London, Hong Kong, Paris and Geneva.
Renowned and trusted for our expert live and online-only auctions, as well as bespoke Private Sales, Christie’s unparalleled network of specialists offers our clients a full portfolio of global services, including art appraisal, art financing, international real estate and education. Christie’s auctions span more than 80 art and luxury categories, at price points ranging from $500 to over $100 million.
Country: United Kingdom
Year: 1766
Date: December 5
Source: https://www.artdex.com/history-of-auctions-auction-houses/
History of Auctioneering
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Damien Hirst (UK) made $200.8 million (£111 million) during a two-day auction on 15 and 16 September 2008. 167 of his works went on sale at Sotheby’s in London. Only three of the 167 items available failed to find buyers.
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eBay was founded as AuctionWeb in California on September 3, 1995 by Pierre Omidyar in September 1995. It has 132 million yearly active buyers worldwide and handled $73 billion in transactions in 2023, 48% of which was in the United States. In 2023, the company had a take rate (revenue as a percentage of volume) of 13.81%.
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In June 2000, eBay acquired Half.com for $312 million in stock.
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Pursuant to 24 Del. C. § 2901, “the practice of providing real estate services” is reserved for those “duly licensed under this chapter.” Section 2901 enumerates several exceptions to the licensing requirement for providing “real estate services,” including one for “auctioneers.” In its Complaint, Plaintiff Delaware Auctioneers Association challenges regulations promulgated by Defendant Delaware Real Estate Commission concerning the 24 Del. C. § 2901(e)(4) exception for “auctioneers.”3 Specifically, Plaintiff asserts that § 2901(e)(4) is a blanket exemption for “auctioneers,”4 and, therefore, Defendant does not have the authority to implement regulations which purport to clarify “the complete, clear unambiguous and blanket exemption provided to ‘auctioneers.’”
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The Idaho Association of Professional Auctioneers (IAPA) was organized in 1981 to promote professionalism and the auction method of marketing. All members are in good standing and subscribe to the code of ethics set forth by the IAPA. The Association offers leadership, support, information and assistance to its members through its various committees and services, and lobbies to protect and enhance auction interests in the State. Members in good standing in the Idaho Association of Professional Auctioneers abide by Idaho Auction Law, IAPA By-Laws and a strict Code of Ethics.
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Based on users, the largest auction website is eBay (USA), with an estimated 157 million active buyers worldwide as of 9 October 2015, according to Forbes.
eBay was launched on 4 September 1995 by Pierre Omidyar (France) and has its headquarters in San Jose, California, USA.
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“Jimson Weed: White Flower No. 1” by American Modernist Georgia O’Keeffe (1887–1986) became the most expensive painting by a female artist sold at auction, when it made $44.4 million (£28 million) at Sotheby’s in New York, USA, on 20 November 2014.
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The most expensive bottle of wine sold at auction is £192,000 ($304,375), which was paid for a bottle of 1947 French Cheval-Blanc, and sold at Christie’s, Geneva, Switzerland on 16 November 2010. The bottle was sold to a private collector smashing the previous estimates. The wine is of Bordeaux variety.
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The most expensive piece of wireless related equipment is a German Enigma coding (ciphering/enciphering) machine sold for £24,172.50 ($38,047.50) when it came to auction at Phillips Bond Street, London, UK, in April 1993. The above amounts are equivalent to £29,385.80; $45,355.26 in the year 2000.
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