Read this article in 4 levels: Basic A1 (英検3級), Intermediate B1(英検2級), Advanced C1(英検1級), original version. Multiple choice content questions for each level. Free English reading practice. The more you read in English, the more your English will improve. Who were Sotheby and Christie?
A1 Beginner 英検3級
B1 Intermediate 英検2級
C1 Advanced 英検1級
Original article
Basic A1 (英検3級) Version:
Article:
Who were Sotheby and Christie? Sotheby was John Sotheby, and Christie was James Christie.
If you want to sell something rare or valuable, the best places to sell it are Sotheby’s or Christie’s. These are the two biggest and most famous auction houses in the world. In 2023, Sotheby’s made $7.9 billion in sales, and Christie’s made $6.2 billion. They often switch places as the number one auction house, so they are very similar. There are other auction houses, but Sotheby’s and Christie’s are the most famous.
Sotheby’s and Christie’s are in direct competition. This means they are always trying to be better than each other. Sometimes, they are called a duopoly, which means two companies control almost all of a market. An example of a duopoly is Mastercard and Visa. When two companies compete openly, a duopoly is not always bad, but it can make prices higher for customers.
There isn’t much difference between Sotheby’s and Christie’s. Christie’s has always been a private company, while Sotheby’s has been both public and private. Right now, Sotheby’s is owned by Patrick Drahi and is a private company. Both auction houses don’t have to tell us everything about their auctions, so there is some secrecy. They both sell many kinds of items and charge similar fees. For example, if you buy a painting for $100 million, you will have to pay an extra 15%, so the total price would be $115 million.
Sotheby’s biggest sale was the Macklowe Collection, a collection of artworks sold for $922.2 million. Christie’s biggest sale was the Paul G. Allen Art Collection, sold for $1.62 billion.
Sotheby’s started as a book auction house in London by Samuel Baker in 1744. After Baker died, his nephew John Sotheby took over, and the company became Sotheby’s. Over the years, the company changed names and owners but kept growing.
Christie’s was founded by James Christie in 1766 in London. He was a Scottish auctioneer who made many important connections in art and literature. After he died, his son, James Christie the Younger, took over and made Christie’s the top auction house in London.
Questions:
- Who started Sotheby’s?
a) John Sotheby
b) Samuel Baker
c) Patrick Drahi
d) James Christie - Who started Christie’s?
a) John Sotheby
b) Samuel Baker
c) Patrick Drahi
d) James Christie - What are Sotheby’s and Christie’s known for?
a) Selling paintings
b) Selling rare and valuable items at auction
c) Making shoes
d) Building houses - How much did Sotheby’s make in sales in 2023?
a) $6.2 billion
b) $7.9 billion
c) $1 billion
d) $10 billion - What does a duopoly mean?
a) Two companies own all or most of a market
b) Two companies merge into one
c) Two companies never compete
d) Two companies are owned by the same person - What was Sotheby’s biggest sale?
a) The Macklowe Collection
b) The Paul G. Allen Art Collection
c) A rare book
d) A painting - What was Christie’s biggest sale?
a) The Macklowe Collection
b) The Paul G. Allen Art Collection
c) A rare book
d) A sculpture - What did James Christie do before starting Christie’s?
a) He was a painter
b) He was an auctioneer
c) He was a writer
d) He was a bookseller - Who owned Sotheby’s in 2023?
a) Samuel Baker
b) James Christie
c) Patrick Drahi
d) John Sotheby - What is one similarity between Sotheby’s and Christie’s?
a) They both sell similar items and have similar fees
b) They are both public companies
c) They only sell books
d) They are owned by the same person
Answers:
- b) Samuel Baker
- d) James Christie
- b) Selling rare and valuable items at auction
- b) $7.9 billion
- a) Two companies own all or most of a market
- a) The Macklowe Collection
- b) The Paul G. Allen Art Collection
- b) He was an auctioneer
- c) Patrick Drahi
- a) They both sell similar items and have similar fees
Intermediate B1 (英検2級) Version:
Article:
Who were Sotheby and Christie? Sotheby was John Sotheby, the nephew of Samuel Baker, and Christie was James Christie, a Scottish auctioneer.
If you want to sell something rare or valuable, the best places to do so are Sotheby’s or Christie’s. These two auction houses are the largest and most famous in the world. In 2023, Sotheby’s led with $7.9 billion in sales, while Christie’s followed with $6.2 billion. They have often switched places as the top auction house, and there isn’t much difference between the two.
Sotheby’s and Christie’s are in direct competition, a situation known as a duopoly. In a duopoly, two companies dominate a market. Examples include Mastercard and Visa. While a duopoly can limit consumer choice, it isn’t always negative if the companies compete openly.
There aren’t many differences between Sotheby’s and Christie’s. Christie’s has always been a private company, while Sotheby’s has alternated between being public and private. Currently, Sotheby’s is privately owned by Patrick Drahi. Both companies operate with a degree of secrecy regarding their auctions and have similar fees. Typically, they charge around 20% for items selling for less than $7.5 million and between 10-15% for more expensive items. For instance, if you purchase a painting for $100 million, your total cost, including fees, would be $115 million.
Sotheby’s biggest sale to date was the Macklowe Collection, which fetched $922.2 million. Christie’s holds the record for the largest sale, having sold the Paul G. Allen Art Collection for $1.62 billion.
The history of these auction houses is quite interesting. Sotheby’s was originally founded as a book auction house in London by Samuel Baker in 1744. After Baker’s death, his nephew John Sotheby took over, and the company eventually became known as Sotheby’s. Over the years, the company changed hands and names but continued to grow.
Christie’s was established by James Christie in 1766 in London. Christie was a Scottish auctioneer who had many connections in the art and literary world, which helped his business thrive. After his death, his son, James Christie the Younger, took over and elevated Christie’s to the top auction house in London. The last member of the Christie family to run the company was James Christie, the great-grandson of the founder.
Questions:
- What are Sotheby’s and Christie’s famous for?
a) Making furniture
b) Hosting auctions for rare and valuable items
c) Building homes
d) Publishing books - What is a duopoly?
a) A market controlled by two companies
b) A market with many small companies
c) A company with no competition
d) A company that sells two types of products - Who currently owns Sotheby’s?
a) James Christie
b) John Sotheby
c) Patrick Drahi
d) Samuel Baker - How much did Christie’s make in sales in 2023?
a) $7.9 billion
b) $6.2 billion
c) $5 billion
d) $8 billion - What was Sotheby’s biggest sale?
a) The Paul G. Allen Art Collection
b) The Macklowe Collection
c) Napoleon’s library
d) A rare painting - What helped James Christie’s auction house become successful?
a) His connections in the art and literary world
b) His ability to sell books
c) His partnership with Sotheby’s
d) His work as a lawyer - What type of company has Christie’s always been?
a) Public
b) Private
c) Government-owned
d) Non-profit - What is one similarity between Sotheby’s and Christie’s?
a) Both charge similar fees for auctions
b) Both were started by the same person
c) Both only sell books
d) Both are listed on the stock exchange - What percentage fee do Sotheby’s and Christie’s typically charge for items over $7.5 million?
a) 5-10%
b) 20-25%
c) 10-15%
d) 25-30% - Who was the last member of the Christie family to run Christie’s auction house?
a) James Christie the Younger
b) John Sotheby
c) Samuel Baker
d) James Christie, the great-grandson
**Answers
:**
- b) Hosting auctions for rare and valuable items
- a) A market controlled by two companies
- c) Patrick Drahi
- b) $6.2 billion
- b) The Macklowe Collection
- a) His connections in the art and literary world
- b) Private
- a) Both charge similar fees for auctions
- c) 10-15%
- d) James Christie, the great-grandson
Advanced C1 (英検1級) Version:
Article:
Who were Sotheby and Christie? Sotheby was John Sotheby, the nephew of Samuel Baker, and Christie was James Christie, a Scottish auctioneer.
Sotheby’s and Christie’s are the two largest and most prestigious auction houses in the world. In 2023, Sotheby’s led the market with $7.9 billion in sales, while Christie’s followed closely with $6.2 billion. These two companies have been in fierce competition for decades, often alternating as the top auction house. This rivalry has created a duopoly, where two companies dominate the market. While a duopoly can limit consumer choice, it can also drive innovation and competition between the two firms.
Sotheby’s and Christie’s share many similarities. Christie’s has always been a private company, whereas Sotheby’s has oscillated between being publicly traded and privately owned. Currently, Sotheby’s is privately owned by French-Israeli businessman Patrick Drahi. Both auction houses are known for their secrecy in how auctions are conducted, only revealing the final sale prices. Their fee structures are similar, with both charging approximately 20% on items sold for less than $7.5 million and 10-15% on items exceeding that price. For instance, purchasing a $100 million painting at auction would incur a 15% fee, bringing the total cost to $115 million.
Sotheby’s largest sale to date was the Macklowe Collection, a series of artworks sold for $922.2 million during the divorce proceedings of real estate developer Harry Macklowe. However, Christie’s holds the record for the most significant sale, having auctioned the Paul G. Allen Art Collection for $1.62 billion. Paul Allen was a co-founder of Microsoft, and his art collection featured works by some of the most renowned artists in history.
The history of these auction houses is steeped in tradition. Sotheby’s was founded in 1744 in London by Samuel Baker, who initially focused on auctioning rare books. After Baker’s death, his nephew John Sotheby took over, and the company eventually became known as Sotheby’s. Over the centuries, the company underwent several name changes and ownership transitions but remained a leader in the auction world.
Christie’s was established by James Christie in 1766, also in London. Christie, a Scottish auctioneer, leveraged his extensive connections in the art and literary circles to secure valuable items for auction. His son, James Christie the Younger, succeeded him and solidified Christie’s position as the premier auction house in London. The last member of the Christie family to run the company was James Christie, the great-grandson of the founder.
Despite their storied pasts and ongoing rivalry, neither Sotheby’s nor Christie’s is still owned by their founding families. Both have been sold to other corporations, but they continue to be the most respected names in the auction industry.
Questions:
- What is a key similarity between Sotheby’s and Christie’s?
a) Both companies are public
b) Both companies are private and charge similar fees
c) Both companies specialize in selling books
d) Both companies were founded in the same year - What is a duopoly?
a) A market dominated by two companies
b) A monopoly controlled by one company
c) A market with many competitors
d) A company with two owners - Who currently owns Sotheby’s?
a) The Sotheby family
b) Patrick Drahi
c) The Christie family
d) A public corporation - What was the most significant sale ever conducted by Christie’s?
a) The Macklowe Collection
b) Napoleon’s library
c) The Paul G. Allen Art Collection
d) A rare sculpture - How did Sotheby’s begin?
a) As a book auction house founded by Samuel Baker
b) As an art auction house founded by John Sotheby
c) As a sculpture auction house
d) As a painting auction house - What was James Christie’s background before founding Christie’s?
a) He was a painter
b) He was an auctioneer with many connections in the art world
c) He was a writer
d) He was a lawyer - What percentage fee do Sotheby’s and Christie’s typically charge for items selling for more than $7.5 million?
a) 20-25%
b) 10-15%
c) 5-10%
d) 25-30% - Who was the last member of the Christie family to own Christie’s auction house?
a) James Christie the Younger
b) George Christie
c) John Sotheby
d) James Christie, the great-grandson - What does the term “duopoly” imply about the competition between Sotheby’s and Christie’s?
a) They dominate the auction market together
b) They collaborate on all auctions
c) They avoid competing with each other
d) They operate in different markets - How did Sotheby’s and Christie’s maintain their secrecy in auction practices?
a) By being privately owned and not disclosing auction details
b) By being government-owned
c) By publishing all auction details
d) By collaborating with each other
Answers:
- b) Both companies are private and charge similar fees
- a) A market dominated by two companies
- b) Patrick Drahi
- c) The Paul G. Allen Art Collection
- a) As a book auction house founded by Samuel Baker
- b) He was an auctioneer with many connections in the art world
- b) 10-15%
- d) James Christie, the great-grandson
- a) They dominate the auction market together
- a) By being privately owned and not disclosing auction details
Original Version:
Article:
Who were Sotheby and Christie? Sotheby was John Sotheby, the nephew of Samuel Baker. Christie was James Christie.
If you want to sell anything rare or valuable at auction, the best places you could sell it are Sotheby’s or Christie’s. They are the two largest and most famous auction houses in the world. There is not much difference between the two of them, but in 2023, Sotheby’s was number one with sales of $7.9 billion and Christie’s was number two with sales of $6.2 billion. They have switched places so many times over the years they are pretty much the same. There are other old auction houses, but I am interested in these two today. Sotheby’s and Christie’s are in direct competition with each other and are sometimes referred to as a duopoly. A duopoly is when two companies own all, or nearly all, of a market. Mastercard and Visa are good examples of a duopoly. If the two companies are in open competition, then a duopoly isn’t necessarily bad, but it does reduce choice for the consumer and both companies can very easily collude on prices.
What is the difference between Sotheby’s and Christie’s? Not an awful lot. Christie’s has always been a private company, but Sotheby’s has been both public and private. It has been listed on the New York stock exchange a few times, although right now it is owned by Patrick Drahi and is no longer public. Because both companies are privately owned, they don’t have to disclose how the auctions are carried out, just the final result, which leads to a lot of opaqueness. Both houses have their specialisms, but they will both sell pretty much anything if it is likely to garner a profit. They both have similar fees as well. Roughly 20% on items that sell for less than $7.5 million and then between 10 to 15% for items that sell over that price. That means, if you buy a painting for $100 million, your final bill will be $115 million. Although, if you have that much to spend on a painting, you are probably not really worried by the fee.
Sotheby’s biggest sale to date was the Macklowe Collection, which was a collection of artworks owned by a real estate developer called Harry Macklowe. He had to sell them during divorce proceedings with his wife. The collection sold for $922.2 million. That seems like a lot of money, but it is dwarfed by Christie’s biggest sale. They sold the Paul G. Allen Art collection for $1.62 billion. Paul Allen was a co-founder of Microsoft.
So, who were Sotheby and Christie? Sotheby first because they are the oldest. The auction house that became known as Sotheby’s was started in London by a man called Samuel Baker. He was a bookseller, and he held his first book auction on March 11th, 1744, out of his shop. He had managed to get a library of rare books from the library of Sir John Stanley. Baker took on a partner called George Leigh in 1767, and the company became Baker & Leigh. They did very well. They were able to
sell Napoleon’s library after he died. They had a lot of connections. Baker died in 1778, and his estate was split between George Leigh and Baker’s nephew, John Sotheby. Sotheby and Leigh went into partnership, and the auction house was called Leigh and Sotheby. John Sotheby died in 1807, and George Leigh died in 1815. John Sotheby’s son inherited the business and grew it, but unfortunately drowned in a river in 1861. There were no more Sotheby’s. The senior accountant of the firm, John Wilkinson, took over, and the company became Sotheby & Wilkinson. Wilkinson promoted a manager called Edward Grose Hodge, and the auction house became Sotheby, Wilkinson, and Hodge. In 1924, the name was changed to Sotheby and Company, and from then on it was pretty much just Sotheby’s.
Christie is a little less complicated. Christie’s Auction House was founded by James Christie on December 5th, 1766. He was a Scottish auctioneer who had made his way to London, where he set up Christie’s Great Rooms. The auction house lists 1766 as the first auction, but an advert for an auction in 1759 has been found. Like Samuel Baker of Sotheby’s, James Christie had a lot of connections in the world of art and literature, which helped them get big sales. He was friends with Thomas Gainsborough and Thomas Chippendale, to name just two. James Christie died in 1803, and he was succeeded by his son, James Christie the Younger. He managed to make Christie’s into the preeminent auction house in London. He died in 1831, and his son, George Christie, took over. The last Christie to own the auction house was James Christie, the great-grandson of the original James Christie.
Questions:
- Who were Sotheby and Christie?
a) Business partners
b) The founders of the two largest auction houses
c) Famous painters
d) Authors - What does a duopoly refer to in the context of Sotheby’s and Christie’s?
a) A monopoly by one company
b) A market dominated by two companies
c) A government-controlled market
d) A partnership between two companies - Who currently owns Sotheby’s?
a) Patrick Drahi
b) James Christie
c) The Sotheby family
d) The Christie family - How did Sotheby’s begin?
a) As an art auction house
b) As a book auction house founded by Samuel Baker
c) As a sculpture auction house
d) As a painting auction house - What is one of the main differences between Sotheby’s and Christie’s?
a) Christie’s has always been a private company, while Sotheby’s has been both public and private
b) Sotheby’s only sells books
c) Christie’s only sells paintings
d) Christie’s is older than Sotheby’s - What was the most significant sale ever conducted by Christie’s?
a) The Macklowe Collection
b) Napoleon’s library
c) The Paul G. Allen Art Collection
d) A rare sculpture - Who took over Sotheby’s after Samuel Baker’s death?
a) James Christie
b) Patrick Drahi
c) John Sotheby
d) George Leigh - What type of items did James Christie have connections to?
a) Books and paintings
b) Art and literature
c) Furniture and jewelry
d) Sculptures and artifacts - What percentage fee do Sotheby’s and Christie’s typically charge for items selling for more than $7.5 million?
a) 5-10%
b) 10-15%
c) 20-25%
d) 25-30% - What happened to the ownership of Sotheby’s and Christie’s over time?
a) Both remained in their founding families
b) Both were sold to other corporations
c) Both merged into one company
d) Both were taken over by the government
Answers:
- b) The founders of the two largest auction houses
- b) A market dominated by two companies
- a) Patrick Drahi
- b) As a book auction house founded by Samuel Baker
- a) Christie’s has always been a private company, while Sotheby’s has been both public and private
- c) The Paul G. Allen Art Collection
- c) John Sotheby
- b) Art and literature
- b) 10-15%
- b) Both were sold to other corporations
