The names Christie’s and Sotheby’s are synonymous with prestige, legacy, and power in the auction world. For decades, they’ve set the tone for the industry—commanding record-breaking sales and global attention. But in an era of rapid technological change and shifting buyer behavior, even giants aren’t immune to disruption.
As someone who stewards the marketing of a family-owned auction house, you may find yourself wondering: “Are we too small to matter—or are they too big to fail?”
Let’s take a closer look.
At first glance, their dominance seems unshakeable. Their secret? It’s not just art and antiques.
Global Reach: With offices in every major art market—from London and New York to Hong Kong and Dubai—these firms meet collectors where they are, physically and psychologically.
High-Trust Brand: Their legacy lends instant credibility. For ultra-high-net-worth individuals, trust is everything.
Access to Inventory: Because of their reputation, they’re often first in line for the world’s most valuable consignments.
Sophisticated Client Services: Private sales, financing, estate services—these houses offer concierge-level care that keeps collectors coming back.
Heritage Auctions and Phillips have made incredible strides in verticals like collectibles and contemporary art. Yet they haven’t dethroned the leaders.
Why?
Perception Still Matters: For many sellers, Christie’s and Sotheby’s still “feel” like the place to be if you’re consigning a Picasso.
Depth of Network: Decades of client cultivation mean global buyers and sellers already trust and default to them.
Institutional Momentum: Like luxury brands, their legacy compounds over time. This creates inertia that’s hard to displace.
Even giants stumble. Here are three ways disruption could come knocking:
Younger buyers are digital-first. They're discovering art through Instagram, bidding via apps, and expecting frictionless experiences. If auction giants lag in meeting these expectations, they leave space for others to step in.
Ask yourself: is your house better positioned to be agile than the giants?
NFTs, luxury streetwear, digital art, vintage watches—emerging categories often don’t get serious attention from legacy institutions until it’s too late. Regional houses with less red tape and more curiosity can become trusted authorities first.
Your flexibility is your superpower.
Like any corporate institution, leadership can misstep. Overleveraged expansions, failed acquisitions, or reputational scandals could erode the sheen of invincibility. Regional and family-run houses can capitalize on that by leaning into authenticity, transparency, and personal service.
In terms of capital, brand value, and global network—yes, for now. But “too big to fail” is often a mindset more than a reality.
The real takeaway?
If you're running a respected, regional auction house, don’t try to copy the giants. Instead, study their blind spots. Stay nimble. Stay human. Stay curious.
The future of auctions may still include Christie’s and Sotheby’s—but it might also belong to the bold and the local.