Abstract

Christie’s Inc. is a major player in the business of auctioneering. Since its inception in 1766, the auction house has Auctioning into almost all categories of auctioneering. It also has entered areas like real estate and financing. The case deals primarily with the ethical issues confronting Christie’s. The case gives an account of the anti-trust suits that were filed against the auction house. The case also throws light on the cut-throat competition among auctioneers in the top-end market. The case ends with a description of the various controversies - the issue of selling stolen art, not disclosing the holders of Nazi loot, etc - that Christie’s has faced in recent times.

Learning Objectives

The case is structured to achieve the following Learning Objectives:

• Price-fixing deal between the two largest auction houses in the world
• Business practices followed in auction houses
• Importance of ethics in the management of business
• The issues and concerns in the business of auctioneering
• and The importance of instilling a culture that favors ethical behavior.

Keywords

Christie's Inc, Sotheby's Holdings, Inc, Anti-trust Laws, Unfair Trade Practices, US Department of Justice, Sir Anthony Tennant, Alfred Taubman, Diana D. Brooks, Christopher Davidge, Hammer price, European Commission, Price-fixing, Auction House, Supreme Council of Antiquities, Council of Europe