How do auction houses work?

An auction house is a business that facilitates the sale of high-value goods — including fine art, jewellery, watches and design — through competitive bidding. It acts as an intermediary between sellers (also known as consignors) and potential buyers, managing every step of the process from valuation through to final payment and delivery.

At Christie’s, our auctions span more than 80 art and luxury categories, taking place both in person and online. With sale prices ranging from $500 to over $100 million, we offer tailored services to meet the needs of collectors at every level — from first-time buyers to seasoned connoisseurs.

The structure of an auction house

Auction houses are highly specialised organisations that bring together expertise across multiple disciplines. At their core are the specialists — experts in specific collecting categories, such as Old Master paintings, post-war and contemporary art or rare watches. These specialists handle valuations, advise consignors and catalogue each item with scholarly precision.

Supporting the specialists are departments focused on business development, client services, marketing, legal and operations. These teams ensure a smooth experience for both buyers and sellers — from promotional campaigns to handling auction registrations, payment and shipping.

Live sales are brought to life by auctioneers, who conduct the bidding in real time, as well as by bid clerks and phone bidding teams who support clients around the world. Online sales are facilitated by advanced digital platforms, supported by technical, UX and legal teams behind the scenes. It’s a finely tuned operation that combines scholarship, service and technology.

How does an art auction work?

At Christie’s, every auction is the culmination of a carefully managed process, designed to showcase, promote and sell each work to the right buyer.

• Valuation
  Our specialists carry out a detailed assessment of each item, considering factors such as condition, provenance, rarity and current market demand. We work closely with sellers to recommend the ideal timing, pricing strategy and auction format to maximise success.
• Consignment and cataloguing
  Once an item is consigned, it is catalogued and professionally photographed. Our teams present each lot with precision and care — whether in a printed catalogue or on our digital platforms — to reach collectors around the globe.
• Pre-sale exhibition
  Many auctions are preceded by public exhibitions, held in Christie’s galleries in London, New York, Hong Kong and other key locations, as well as online. These previews offer prospective buyers the chance to examine works in person and consult with our specialists before placing a bid.
• The auction
  In a live auction, the auctioneer introduces each lot and invites bids from the room, over the phone, online or via absentee bid. Bidding rises in set increments until the highest offer is reached. In online-only sales, bids are placed over a set period and close at a scheduled time. In both formats, if the final bid meets or exceeds the reserve price, the work is sold.
• Post-sale services
  Following the auction, Christie’s manages invoicing, payment and delivery. Sellers receive the final proceeds, minus agreed fees and commissions. Buyers are supported with shipping arrangements, export advice and after-sale care.

What about private sales?

In addition to auctions, Christie’s offers private sales — discreet, flexible transactions arranged directly between buyer and seller. This format is ideal for those seeking greater confidentiality, more control over timing or a tailored approach to buying and selling. Private sales take place year-round and can be especially effective for works suited to specific collectors or markets. Our specialists draw on deep relationships and global insight to connect clients with exceptional opportunities beyond the public auction calendar.

In summary

Auction houses combine global reach, deep market knowledge and trusted service to bring exceptional art and objects to market. Whether you’re looking to build a collection, sell a single item or learn more about the art world, Christie’s specialists are here to guide you every step of the way.

For a full list of auction terms, visit our auction glossary.