Christie's focused on selling artwork, costumes from movies and fancy cars back in the day... but now it's heading into new territory.
👉Background: Christie’s is a British auction house that was founded way way way back in 1776. To put it simply, Christie’s runs auctions and takes a commission for the sale of unique or rare items.
👉 What happened: Back in the day, Christie's would focus on selling artwork, costumes from movies and fancy cars, but now it is heading into new territory.
👉 What else: Christie's has announced the launch of two new divisions:
These new auction businesses allow an entry point to younger investors in a traditionally ‘mature’ market.
💡Broadening a product range can significantly broaden your customer base. The average Christie’s customer is 51 years old, but when it comes to sneakers and sports collectibles, the average age is 38.
💡In fact, when Christie’s tested a streetwear category in December last year, most of the buyers were between 20 and 40 years old.
💡So not only do NFT’s and sneakers increase the amount of pieces that Christie’s can auction, it also introduces a whole new generation to the art and collectibles market.
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