Christie's.

• Author: Heffes, Ellen M.
• Position: Christie Group PLC - Company overview

How did the company get started?

Founded in 1766 by James Christie, Christie's is a name and a place that speaks of extraordinary art, unparalleled service and international glamour around the world.

Christie's reputation was launched in its early years, when James Christie's London salesroom became a popular gathering place for Georgian society, as well as for knowledgeable collectors and dealers in England.

The company offered artists the use of his auction house to exhibit their works and enjoyed the friendship of leading artists such as Sir Joshua Reynolds, Thomas Chippendale--who designed Christie's auction podium--and Thomas Gainsborough, who painted the famous portrait of Christie that now hangs in the J. Paul Getty Museum.

Christie's conducted the greatest auctions of the 18th and 19th centuries, including negotiating with Catherine the Great the sale of Sir Robert Walpole's collection of paintings, which would form the base of the Hermitage Museum Collection; the sale of the contents of Sir Joshua Reynold's studio; the sale of Madame du Barry's jewels; and the disposition of the collection of the Duke of Buckingham at Stowe House, which lasted 40 days.

James Christie's salerooms have been a popular showcase for the unique and the beautiful ever since.

How has the business model changed?

The business model has evolved from a local to a regional to a global business, with more recent strategic growth in online and private sales.

What are some significant events in its evolution?

The launch of Christie's LIVE online, real-time bidding feature provides its clients worldwide access to its sales around the clock.

To serve its growing worldwide customer base over the decades, Christie's continues to open offices in new regions. Besides London, offices are in New York, Paris, Geneva, Milan, Amsterdam, Dubai and Hong Kong.

Christie's currently has 53 offices in 32 countries and 10 salesrooms.

Current challenges?

The art market is highly competitive at the top end with a handful of organizations pursuing top collections for consignment and top collectors to purchase them. Sourcing great, rare objects is a constant yet exciting challenge for our global team of specialists and business-getters.

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What about competitors?

Christie's competitors include Sotheby's and Phillips de Pury.

How do you view growth and where are opportunities for the business?

Online and private sales are important growth areas for us, as are...