When it comes to the art market, two names stand out – Christie’s and Sotheby’s. These auction houses have been in business for centuries and have established themselves as leaders in the field. But who is bigger? Let’s take a closer look.
History
Christie’s, founded in 1766 in London, is the world’s oldest fine art auction house. It has a long and prestigious history, with branches in major cities around the world. Sotheby’s, founded in 1744 in London, is also one of the oldest auction houses. It has a rich history and is known for its diverse range of auctions.
Size and Revenue
Both Christie’s and Sotheby’s are large auction houses with significant revenue. However, when it comes to size, Christie’s takes the lead. In recent years, Christie’s has reported higher total sales and revenue compared to Sotheby’s.
Christie’s
Christie’s has a global presence, with a network of 53 offices in 32 countries. In 2019, Christie’s reported sales of $4.5 billion, making it the largest auction house in the world.
Sotheby’s
Sotheby’s operates in 40 countries and has 90 offices worldwide. In 2019, Sotheby’s reported sales of $4.8 billion. While Sotheby’s revenue was higher than Christie’s that year, it is important to note that revenue can fluctuate annually.
Specializations
Both Christie’s and Sotheby’s are renowned for their expertise in various specialties.
Christie’s
Christie’s has a strong focus on fine and decorative arts, including paintings, sculptures, furniture, and jewelry. It is known for its prestigious evening sales, where high-profile artworks are auctioned.
Sotheby’s
Sotheby’s specializes in a wide range of categories, including contemporary art, modern art, jewelry, watches, and wine. It has a reputation for holding record-breaking auctions for high-value items.
Global Reach
Both auction houses have a global presence and conduct auctions in various locations.
Christie’s
Christie’s holds auctions in major cities worldwide, including New York, London, Hong Kong, and Paris. It has an extensive international client base and attracts bidders from around the globe.
Sotheby’s
Sotheby’s also conducts auctions in major cities, with a strong presence in New York, London, and Hong Kong. Its auctions attract a diverse range of buyers, including collectors, dealers, and institutions.
The Verdict
So, who is bigger – Christie’s or Sotheby’s? While both auction houses have a significant impact on the art market, Christie’s currently holds the title of the largest auction house based on reported sales and revenue. However, it is important to note that the art market is ever-changing, and rankings can fluctuate from year to year.
In conclusion, Christie’s and Sotheby’s are two giants in the auction world, each with its own strengths and specialties. Whether you’re buying or selling art, both auction houses offer a wealth of expertise and opportunities to connect collectors with exceptional artworks.
