Christie’s Reenters Classic Car Market With Gooding Acquisition

Christie’s Inc. will acquire the Los Angeles-based car consigner Gooding & Co. in a transaction expected to close by the end of the year. The deal, announced on Thursday for an undisclosed sum, is said to be Christie’s largest in more than two decades.

“We are confident that the combination of resources will provide many opportunities for significant global growth,” said Guillaume Cerutti, Christie’s chief executive officer, in an email.

The purchase will help diversify Christie’s offerings as the art market weakens. In the first six months of 2024, Christie’s auction sales declined 22% year over year, to $2.1 ...