Christie’s increases commission rate

Christie’s International, the second-largest auction house by sales, will increase the commission it charges buyers of art to 20% starting Jan. 1, the London-based company said.

Christie’s currently charges buyers 19.5% on the first $135,929 of an artwork’s value in London and 19.5% of the first $100,000 in New York, taking 12% on the rest. The 0.5% increase will bring its rates into line with those of rival Sotheby’s Holdings Inc., the No. 1 auction house.