With Christie’s and Sotheby’s Both Private, No Major Auction House Is Publicly Traded

Nov 10, 2021 | Trends & Statistics

Christie’s was in the limelight on Nov. 9, 2021, as the famed auction house put HUMAN ONE, the first physical artwork by famed NFT artist Beeple, on the auction block. The 7-foot multimedia sculpture, depicting an astronaut walking across sci-fi landscapes, is expected to get $15 million, according to The Wall Street Journal. However, whereas you can invest in HUMAN ONE and other artworks Christie’s sells, you can’t invest in the auction house itself: Christie’s isn’t publicly traded.

In fact, as of 2019, when a French billionaire acquired Sotheby’s, no major auction house has been public, according to Art World Insights. It also reported that during the two decades that Christie’s was a private company and Sotheby’s wasn’t, Christie’s had more flexibility than its rival. Here’s the backstory.

According to Forbes, Christie’s was a public company listed on the London Stock Exchange from 1973 to 1998, when French businessman François Pinault acquired the company and took it private…. Read the Full Article | https://marketrealist.com/p/is-christies-publicly-traded/

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