Christie’s, the world’s oldest fine art auction house, was established in London in 1766 by James Christie, whose friend included some of the leading artists of the time. Today, it conducts many of the most important auctions in the world.
Over the course of more than two centuries, Christie’s has grown into an international organization of 1,350 offices in 46 Countries. Each year, Christie’s holds hundreds of auctions in more than 80 categories, including silver, jewelry, photography, wine, furniture, ceramics, stamps, comic books and memorabilia, and, of course, fine paintings and sculpture.
Christie’s clients—those who buy and sell works of art, furniture, and antiques—often requested real estate services. After careful and thorough investigation, Christie’s chose to acquire the operation of Great Estates, Inc., founded in 1987, to fulfill client demand. Christie’s International Real Estate, a wholly owned subsidiary of Christie’s, was formed in June 1995 following this acquisition.
Christie’s International Real Estate is the largest international network of independent real estate brokers specializing in the sale of important properties. The network is comprised of more than 138 real estate firms with more than 1,350 offices and approximately 32,000 sales associates. Each real estate firm is selected for affiliation through a careful screening process that includes meeting stringent professional standards and demonstrating proven records of success in handling distinctive properties. The combined annual sales volume of all affiliate real estate companies is approximately $113 billion.
Now in its third year, Luxury Defined presents an in-depth analysis of trends shaping the luxury residential real estate market globally. This year’s report ranks the world’s top 10 cities for prime property and analyzes more than 70 key regional markets worldwide, offering a fresh and comprehensive look at global activity and correlated values. The scope of the white paper, which includes the collective insights and quantitative data from the Christie’s International Real Estate network, has been widely broadened this year and establishes new benchmarks to further explore and define the dynamics and drivers impacting high-value asset classes (from fine art to real estate).