Christies' costs are due for a hammering

Article Abstract:

Christies International has inttroduced a new commission structure and is no longer competing with Sotheby's on price. The two companies increased volume sales to compensate for lower commissions in the late 1980s and this led to an eventual collapse of the market. Christies has higher costs than Sotheby's and has major shareholders which could exert pressure to reduce costs. Sales figures are improving art sales performed well following a previous peak in equities.

Miscellaneous retail stores, not elsewhere classified, Management, Art dealers, Christie's International PLC

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The fine art of the deal

Article Abstract:

Art is seen as an illiquid investment which should be undertaken n a long-term basis. Art swaps give easier access to the market. Counterparties acquire an interest in a portfolio of a collector through a bank or other swap dealer. Counterparties receive monetary benefits from rises in the value of the art portfolio. Art collectors can also use the Art Securities Index to provde a further hedge against a fall in the value of their collecton.

Analysis, Economic aspects, Art as an investment, Swaps (Finance)

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