Timeline Sotheby's Christie's

Time Line: The Rise Of Christies And Sothebys
Anna Rohleder

1744 Sothebys is founded by book head Samuel Baker.
1766 Christies is founded by James Christie, who resigns from a Navy commission to carry away up auctioneereering.
1964 Sothebys buys New York auction house Parke-Bernet and expands internationally.
1973 Christies becomes a domain company listed on the London Stock Exchange.
1977 Christies opens salesroom in New York.
September 1983 A. Alfred Taubman buys Sothebys.

1988 Taubman takes Sothebys public.
November 1992 Sothebys increases commissions for buyers.
December 1992 Christies also increases buyers commissions.
1993 Sothebys Chief administrator Diana Brooks and her counterpart at Christies, Christopher Davidge, meet and begin to establish ways of sharing the subscriber line.
March 1995 Christies introduces fixed sliding-scale fee for sellers, consequently excluding option of negotiating more favorable rates.
April 1995 Sothebys follows suit with fixed sellers fees.
1997 U.S. judge Department begins antitrust investigation into the two auction houses business practices.
May 1998 French tycoon Francois Pinault, one of the richest men in France, buys Christies for just over $1 billion and takes it private.




November 1999 Pinaults arch rival, Bernard Arnault, buys Phillips auction house for $100 million and folds it into his LVMH luxury-goods conglomerate.
December 1999 Christies CEO Christopher Davidge resigns with a $7 million severance package.
January 2000 Davidge turns over a treasure trove of documents describing the price-fixing scheme and how it came about to federal investigators in return for conditional amnesty.
January 2000 Christies announces it is cooperating with the government in the antitrust investigation.
January 2000 Clients of both Christies and Sothebys file hundreds of obliging lawsuits, which are later consolidated into one class-action suit.
February 2000 Taubman resigns as...If you want to raise up a full essay, order it on our website: Orderessay



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