Here’s a deep dive into the history of the world’s most prestigious auction houses, known for their record-breaking sales, elite clientele, and global influence.
🏛️ 1. Christie’s
- Founded: 1766
- Founder: James Christie, an entrepreneur in London
- Origin Story:
James Christie held his first sale in December 1766, focusing on fine art, rare books, and antiques. His charismatic auction style quickly attracted the British elite, making Christie’s the go-to house for aristocrats and collectors. - Key Milestones:
- 18th Century: Became the preferred auction house for European royalty and nobility.
- 1970s: Expanded globally with offices in New York, Paris, and Hong Kong.
- 2017: Sold Salvator Mundi for $450.3 million, setting a world record.
- Modern Role:
Christie’s leads the global art market, specializing in everything from Old Masters to contemporary art, luxury goods, and even NFTs.
🏛️ 2. Sotheby’s
- Founded: 1744
- Founder: Samuel Baker, London
- Origin Story:
Sotheby’s began as a rare book auction house. Samuel Baker’s first sale was of books from the library of Sir John Stanley, earning £826. - Key Milestones:
- 19th Century: Expanded into fine art, antiques, and jewelry.
- 1955: Became the first international auction house, opening an office in New York.
- 1964: Auctioned the Duke of Devonshire’s jewels, sparking global media attention.
- 2019: Acquired by billionaire Patrick Drahi and became a private company again after 31 years as publicly traded.
- Modern Role:
Known for high-end art, rare wines, luxury cars, and real estate. Sotheby’s also pioneered online auctions, adapting swiftly to the digital age.
🏛️ 3. Phillips
- Founded: 1796
- Founders: Harry Phillips, a former senior clerk at Christie’s
- Origin Story:
Phillips started as a traditional auction house focused on fine art and collectibles. It gained popularity in London for its elegant style and elite clientele. - Key Milestones:
- 20th Century: Specialized in British art, including works by J.M.W. Turner.
- 2001: Acquired by LVMH (luxury conglomerate) but later sold due to financial challenges.
- 2014–Present: Shifted focus to contemporary art, watches, and photography, becoming a leader in modern markets.
- Modern Role:
Phillips is the go-to auction house for luxury watches, contemporary artists, and emerging markets in modern design.
🏛️ 4. Bonhams
- Founded: 1793
- Founders: Thomas Dodd and Walter Bonham in London
- Origin Story:
Bonhams began as a print and book auctioneer but soon expanded to include antiques, paintings, and collectibles. Its focus on traditional British art distinguished it from competitors. - Key Milestones:
- 2000s: Merged with Phillips Son & Neale to expand its global presence.
- 2018: Acquired by the private equity firm Epiris, accelerating international growth.
- Known for hosting prestigious car auctions, such as the Goodwood Festival of Speed.
- Modern Role:
Specializes in classic cars, fine jewelry, and historical artifacts. It’s one of the last traditional auction houses still holding physical auctions in historic locations.
🏛️ 5. Heritage Auctions
- Founded: 1976
- Founders: Steve Ivy and Jim Halperin in Dallas, Texas
- Origin Story:
Heritage began as a small rare coin business but quickly evolved into a major auction house specializing in collectibles, pop culture, and historical memorabilia. - Key Milestones:
- 1990s: Expanded into comics, sports memorabilia, and vintage movie posters.
- 2010s: Became the world’s largest auctioneer of collectibles, thanks to its strong online platform.
- Record Sales: Sold a 1952 Mickey Mantle baseball card for $12.6 million in 2022.
- Modern Role:
A leader in the digital auction space, Heritage dominates categories like comic books, sports memorabilia, rare video games, and coins.
🌍 Comparing the Big Players:
| Auction House | Founded | Specialty | Famous Sale | Global Reach |
|---|---|---|---|---|
| Christie’s | 1766 | Fine Art, Jewelry, Antiques | Salvator Mundi ($450.3M) | 46 countries |
| Sotheby’s | 1744 | Art, Cars, Wine, Real Estate | The Pink Star Diamond ($71.2M) | 40+ countries |
| Phillips | 1796 | Contemporary Art, Watches | Paul Newman’s Rolex Daytona ($17.8M) | Modern markets |
| Bonhams | 1793 | Classic Cars, Antiques | Napoleon’s Hat ($2.1M) | Europe & Asia |
| Heritage Auctions | 1976 | Collectibles, Pop Culture | Mickey Mantle Card ($12.6M) | Strong online |
