Christie’s CEO says auctioneer will maintain strong China presence despite global restructuring and
Sales in China won’t be breaking records any time soon, but expensive properties in Shanghai and Beijing are necessary to show the auction house’s commitment to the region
It’s all change at Christie’s since Guillaume Cerutti became chief executive, in January. In a few short months, he’s cut 250 jobs, pulled down the shutters at the auctioneers’ sale room in South Kensington, London, after 42 years, scaled back operations in Amsterdam, cancelled June sales of post-war and contemporary art in London and scrapped its annual Mumbai auctions.
Cerutti said in March that the restructuring was a reaction to strong growth in online and Asian demand, and The Collector had been wondering if all that retrenchment meant big plans were afoot for this part of the world.