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Auctionbytes-NewsFlash, Number 228 - December 27, 2001 - ISSN 1539-5065
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French Auction House Will Have Competition from Christie's & Sotheby's
By Ina Steiner
AuctionBytes.com
December 27, 2001
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Drouot is a French auction house that opened in 1852 and held a monopoly on auctions in France. It holds 2,000 auction sales a year, with 2 million items changing hands for a total of around $610 million. The article notes that Christie's auctions off $2.3 billion per year, and Sotheby's auctions $1.9 billion per year. The French government is now allowing Christie's and Sotheby's to do business in France, so Drouot will face serious competition. http://www.forbes.com/lifestyle/free_forbes/2001/1224/088.html
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