250-year-old auction house downsizes to stay afloat
(NEWSER) - Following months of bad results in America and Europe, Christie's is reorganizing to cut costs, including "significant staff reductions," the auction house said yesterday. While at the start of 2008 the art world seemed immune to the economic downturn, the decade-long boom in art prices busted this fall. At a recent sale in New York, nearly a third of the pieces on the block went unsold. More»
