Christie's auction house downsizes

Going, going, gone'THERE was only one place to bid for IanFleming's typewriter, Pel's 1970 World Cup jersey or a meteorite that hit the Earth in1803: Christie's South Kensington. Opened in 1975, the auction rooms sold the quirkier, less expensive(and often more exciting) stuff that the main branch of the venerable auctioneer, in posh St James's, eschewed. The young upstart could nonetheless do a roaring trade, getting 55,700 ($70,000) for the keyboard that gave life to James Bond, 157,750 for the Brazilian's sweaty shirt and 25,300 for the lump ofrock (with its fusion crust almost completely intact). They all beat their reserve prices by a mile.But that is all comingto an end. Christie's South Kensington is set to close. Itis the most significant casualty in a restructuring of Christie's operations; there will also be fewer sales in its Amsterdam rooms. Altogether, about 250 people will lose their jobs, mainly in Britain and continental Europe, representing about 12% of Christie's worldwideworkforce. It represents a big upheaval in the art world. But it is necessary, argues Christie's...Continue reading
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