Christie's to Acquire Classic Car Auction House

A Historic Deal

In a move that will shake up the classic car auction world, Christie's has announced its plans to acquire RM Sotheby's, a leading auction house specializing in classic cars. The deal is expected to close in the second half of 2023, subject to regulatory approvals. Christie's CEO Guillaume Cerutti hailed the acquisition as "a transformative moment" for the company, while RM Sotheby's CEO Ken Ahn said he was "thrilled to join forces with Christie's." The combined entity will create a global powerhouse in the classic car auction market, with a presence in key locations around the world.

A Growing Market

The classic car market has been growing steadily in recent years, driven by increasing affluence and a growing appreciation for vintage and classic vehicles. In 2022, the global classic car market was estimated to be worth over $500 billion, and it is projected to continue growing in the coming years. The acquisition of RM Sotheby's will give Christie's a significant foothold in this growing market, and will allow it to offer a wider range of classic cars to its clients.

A Wealth of Experience

RM Sotheby's has a long and distinguished history in the classic car auction world. The company was founded in 1976, and has since become one of the most respected and successful auction houses in the industry. RM Sotheby's has a team of experienced specialists who are experts in classic cars, and the company has a proven track record of achieving record-breaking prices for its consignments. Christie's is confident that RM Sotheby's will be a valuable addition to its team, and that the combined entity will be able to offer an even better service to its clients.

A Bright Future

The acquisition of RM Sotheby's is a major coup for Christie's, and it is a sign of the company's ambitions in the classic car market. The combined entity will be a formidable force in the industry, and it is well-positioned to capitalize on the growing demand for classic cars. With its global presence, its team of experts, and its proven track record, the new Christie's is poised for a bright future in the classic car auction world.

Additional Information

For more information on the acquisition, please visit the Christie's website or the RM Sotheby's website. You can also follow Christie's on social media for the latest news and updates.