Christie’s International Real Estate is New Name for World’s Leading Network of Luxury Property Specialists

New York, NY, January 13, 2011 --(PR.com)-- Christie's, the world’s leading art business, has today announced a corporate name change for its exclusive property brand Christie’s International Real Estate, formerly Christie’s Great Estates. The prime and super-prime sectors of the property market—where Christie’s International Real Estate operates exclusively—have a global clientele. The name change will instill in these consumers a more immediate grasp of the company’s mandate and clarify that Christie’s and its real estate arm are one and the same.

Christie’s International Real Estate is the only real estate network wholly owned by a fine art auction house. The network is uniquely positioned to follow the footprint of its parent company, Christie’s, into the growing markets of the Middle East, Russia, and China, as well as established economies across the world, most notably North and South America and Europe. The new name further underscores that the values that distinguish Christie’s—commitment, expertise, integrity, discretion, and five-star customer service—are likewise embedded in the company’s luxury residential property specialists.

The Christie’s International Real Estate rebrand will be spearheaded by Lisa King, Chief Operating Officer of Christie’s and Chairman of Christie’s International Real Estate, and Neil Palmer, Chief Executive Officer and architect of the real estate business’s global strategy. Mr. Palmer brings to his position a broad range of real estate experience that spans the residential and commercial sectors in Asia, the Middle East, and the United Kingdom. Ms. King comes from a three-generation family business in property development and, prior to joining Christie’s, practiced real estate law.

Christie’s International Real Estate instructions represent some of the most prestigious trophy properties in the world, which include estates, resort properties, second and third homes, and super-prime new-build developments, all priced above US$1 million. Client instructions have included Lord Andrew Lloyd Webber’s Trump Tower Residence in New York City; Lyons Demesne, the historic Irish landmark fully restored by Dr. Tony Ryan; Ingmar Bergman’s island retreat in Sweden; and the Astor Beechwood Mansion in Newport, Rhode Island. Among the most valuable properties currently in the Christie’s International Real Estate portfolio are Palais Montmorency on Avenue Foch in Paris, France, valued in excess of US$100 million, and Cornwall Terrace, the historic Grade I–listed Regency terrace in The Regent’s Park, London, which was recently voted the most significant luxury property development in the United Kingdom.

Lisa King comments: ‘‘This change of name confirms Christie's continued commitment to extend its real estate reach by creating a closer alignment between our art and real estate businesses. The new name best positions our valued and highly qualified network of Affiliates to capitalise on our global market presence and the opportunities presented by our high- quality client base.”

Neil Palmer comments: ‘‘With our Affiliate network continuing to rapidly expand globally, this name change reinforces what we do and the high standard of service that we deliver to participants in the luxury residential property market, whether they are buyers or sellers of the most luxurious, the most significant, or the most glamorous homes around the world.”

For additional information, including translations of the press release, visit http://www.christiesrealestate.com/News/Headline%20News/ReadNews/NewsContent/53105

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