A special NFT auction platform and a new department for sneakers and streetwear lead the auction house into stronger grasp over these categories.
October 10, 2022: Auction house Christie's is exploring new vistas as it launches Department X: Sneakers, Streetwear & Collectibles, a new department focused on this emerging collecting space, led by a team dedicated to auctions and private sales. A burgeoning category, sneakers and streetwear have seen immense demand, not just in the new retail market, but in auctions as well.
NIKE Air Yeezy 1 Prototype
Department X offers rare collectibles across a number of genres - music, fashion, art, and sports history – bringing the best of this exciting category to a new generation of collectors. From offering history-making footwear to iconic pieces of hype culture, Department X will hold online auctions, with live previews in New York, as well as private selling exhibitions throughout the year. Department X builds on Christie’s understanding of popular culture, and strong worldwide performance in the luxury category. To mark the launch of Department X, Christie’s will present a private selling exhibition of two rare pairs of sneakers titled, ‘Ye Walks’.
Department X will be led by Caitlin Donovan, Christie’s Head of Handbags, Streetwear, and Sneakers – Americas, who says: “With a finger on the pulse of popular culture, and the evolution of what is defined as luxury today, we are proud to announce the launch of Department X – Sneakers, Streetwear & Collectibles. With exciting sales that will cross several genres of popular culture and collecting – music, fashion, and sports history – I am excited for new and existing clients of Christie’s to embark on this journey with us.”
'I Am That I Am' - NFT curation by Diana Sinclair
Christie’s has also announced Christie’s 3.0, a new platform that will allow for fully on-chain NFT sales. The platform is built from the ground up together with three leading companies in the Web3 community, Manifold, Chainalysis, and Spatial.
Christie’s 3.0 allows for auctions to be carried out on the Ethereum blockchain network from start to finish. All transactions, including post-sale, will be automatically recorded on the blockchain. The platform also addresses fundamental needs of the market by including compliance and taxation tools, making it the first of its kind.
Nicole Sales Giles, Christie’s Director of Digital Art Sales, remarks, “We are thrilled to launch our on-chain platform – and particularly excited to be debuting Christie’s 3.0 with the phenomenal works from Diana Sinclair. Bringing the highest level of curation to the NFT and Digital Art market, Christie’s continues to be the venue for collectors to discover the best artworks of this emerging category. I am delighted to be able to work with such inspiring digital artists – as well as a remarkable Christie’s team – to offer the public the opportunity to collect exceptional NFTs in the way they are meant to be transacted, on-chain. By incorporating regulatory tools, such as anti-money laundering and sales tax, we have built an inclusive solution where both veteran and new NFT collectors can feel secure in transacting with Christie’s 3.0.”
'I Want To Nurture The Earth' - NFT curation by Diana Sinclair
The ongoing inaugural sale is a highly curated auction of nine NFTs by celebrated visual artist Diana Sinclair, created and minted specifically to launch Christie’s 3.0. Lots are estimated at accessible price points, ranging from 4 to 8 ETH.
Christie’s 3.0 marks a first for a leading auction house. With this brand-driven forum, Christie’s aims to recognize and bring young emerging artists to an international and digitally savvy market. This initiative deepens Christie’s ability to connect clients to the best of the NFT market—beyond traditional auction channels, beyond partnerships with other marketplaces— via a sophisticated and secure blockchain-native platform for sales.