Christies Sets Up Corporate Sales Division

Christies Sets Up Corporate Sales Division
As the financial crisis leads to ever more corporate mergers, bankruptcies, and cash-flow problems, Christie’s is setting up a new department to focus on sales of corporate collections, Crain’s reports.

Cathy Elkies will head the new group in the United States, and Ben Clark will do the same in Europe.

The auction house is apparently in discussions with companies on both continents, but declined to release any names.

“It’s still early, and the banks [with art collections] are still trying to sort out where they’re at,” said Elkies. “Within the year we may start to see some sales from the economic fallout. There is lots of opportunity.”