Christie's Folds Its International Motor Cars Department

In a terse announcement released late this afternoon (September 5), Christie's announced the demise of its International Motor Cars Department as follows:

"As the world’s leading art business, Christie’s periodically carries out strategic reviews of its various operations. Most recently, we have undertaken a review of our global strategy for Christie’s International Motor Cars. As a result Christie’s will close this department this month and will redirect departmental resources to other parts of our business."

Speculation on the Jack Welch effect (if you're not #1 or #2 in your business you should get out of it) and other reasons for and factors in Christie's decision should wait for tomorrow when inquiries can be made directly with the affected Christie's people, but the demise of Christie's International Motor Cars is an important, if sad, milestone for the collector car auction market.

Christie's International Motor Cars has helped shape the collector car market, being a participant since the late 60's and the starting point for many of the market's influential players including Robert Brooks, David Gooding, Miles Morris, Malcolm Welford and Ian Kelleher. Some of the most historic transactions in collector car auction history have taken place behind the Christie's podium, including the sale (under the gavel of Robert Brooks) of the ex-Briggs Cunningham Bugatti Royale which is still the standard by which all collector car auction transactions are measured.

It is quite a history, and it is with regret that we see it come to an end.

Rick Carey