Christie’s Ends Digital Art Division Christie’s is reportedly closing its digital art department and has parted ways with Nicole Sales Giles, the auction house’s vice president of digital. The news was confirmed by Sales Giles to Now Media. A Christie’s spokesperson described the move as a “strategic decision to reformat digital art sales,” adding that …
Christie’s Reportedly Closes Digital Art Department
Christie’s Ends Digital Art Division
Christie’s is reportedly closing its digital art department and has parted ways with Nicole Sales Giles, the auction house’s vice president of digital. The news was confirmed by Sales Giles to Now Media.
A Christie’s spokesperson described the move as a “strategic decision to reformat digital art sales,” adding that the company will continue to offer digital works but within its 20th- and 21st-century art categories, rather than as a standalone department.
From Beeple’s Record to NFT Decline
The decision marks a sharp turn from just four years ago, when Christie’s made headlines with the record-breaking sale of Beeple’s Everydays: The First 5000 Days (2021) for $69.3 million. That sale not only set the record for the most expensive digital artwork ever sold but also ignited the NFT boom of 2021–22.
However, the market has since collapsed.
- By 2022, Christie’s reported just $5.9 million in NFT sales, a 96% decline from 2021.
- In 2024, one report found 95% of NFTs were “dead”, with the average holder facing losses of around 44.5%.
Industry-Wide Pullback
Christie’s move reflects broader retrenchment across the auction industry. In 2023, rival Sotheby’s laid off at least four staff members from its Metaverse and NFT divisions, leaving only a skeleton crew led by Michael Bouhanna, vice president and head of digital art and NFTs.
The contraction signals a cooling of institutional interest in NFTs as the market struggles to regain traction.
FAQs
1. Why did Christie’s close its digital art department?
The company said it made a strategic decision to reformat digital art sales into broader categories rather than a standalone division.
2. Who was affected by the closure?
Nicole Sales Giles, Christie’s VP of digital, confirmed her departure.
3. Will Christie’s still sell NFTs?
Yes, but they will be included within 20th- and 21st-century art sales.
4. What was Christie’s most famous NFT sale?
Beeple’s Everydays: The First 5000 Days (2021), which sold for $69.3 million.
5. How has the NFT market changed since 2021?
Sales have plummeted, with 95% of NFTs deemed “dead” by 2024, and most owners facing losses.
6. Has Sotheby’s also reduced NFT operations?
Yes. In 2023, Sotheby’s laid off multiple staffers in its NFT division, retaining only a few key roles.
Conclusion
Christie’s decision to shutter its digital art department underscores the collapse of the NFT market since its peak in 2021. While the auction house will still handle digital works, the shift signals that the era of dedicated NFT departments at top auction houses may be coming to a close.
As Christie’s and Sotheby’s scale back, the future of digital art sales may depend less on speculative NFT hype and more on how these works are integrated into the broader fine art market.
