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Murphy’s Law

December 13, 2011 by Marion Maneker

The Art Newspaper does a follow up interview with Christie’s CEO Steven Murphy. Here are some salient points:

  • Transforming the Business for Digital: One department that is profitable, successful and has enormous market share is watches. A Patek Philippe or a Longines has a number on it, the provenance is clear [making it easier to sell online]. At one of our sales in Geneva [May 2011] there were 203 people in the room for a watch sale and 800 bidding online live from around the world, including for over $1m on one or two pieces.
  • Private Sales: I expect it will double and then double again. The reason it’s growing and why we’re investing in it is because it’s what our clients (as buyers and sellers) want.
  • Guarantees: It’s a healthier environment now. But at the right time, there’s nothing wrong with a guarantee, no apologies.

Preparing Christie’s for a Quantum Leap (The Art Newspaper)

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Filed Under: General

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