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Christie's confirmed over the weekend through the Financial Times and a release sent out on Saturday that it was remaking the London sales calendar. The art press is taking the news as a sign of Christie's belt-tightening. For example, this is the Art Newspaper's assessment:
In a statement, it says this year is “particularly busy” for collectors, with Venice, later New York sales in May, Documenta 14 and Art Basel all putting a squeeze on the art world summer calendar–and consignments. The move comes amid a string of belt-tightening measures announced under the leadership of Guillaume Cerutti, who was appointed chief executive in December. These include closing Christie’s South Kensington saleroom, which hosts around 60 sales annually, and slashing its Amsterdam auctions.
One way to read the change is that Christie's is making a virtue of necessity; another is something more consequential.
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