Christie’s Auction House International Business, Auction Guarantees Drawing in Clients, and Chinese Art Collector Public Exhibitions

Christie’s now does 33% of its business in eastern countries like China, Dubai, and Saudi Arabia. The average age of collectors in Asia as opposed to European and America collectors is 5 - 8 years in difference. Auction houses like Christie’s and Sotheby’s offer clients what is referred to as a “guarantee” which means that even if the artwork provided by the owner doesn’t sell during auction, the auction house will purchase it at a previously agreed upon price (eg. a painting which is estimated ...

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