NEW YORK (AFP).- Christie's will close its offices in Boston, Philadelphia and Palm Beach and open one in Beverly Hills, the auction house said Tuesday.

The plans are part of a restructuring that would "optimize our engagement with new and existing clients," a Christie's spokesperson told AFP, confirming a report by Bloomberg.

"We have decided to increase our investment and presence in a number of key hubs in the West Coast, Midwest and Southwest regions," including Beverly Hills, the spokesperson said.

Neighboring Los Angeles, the city is home to celebrities, entertainment executives and many large fortunes.

Christie's, a subsidiary of Artemis -- a holding company owned by France's Pinault family -- will shutter offices in Boston, Philadelphia and Palm Beach.

The company's New York headquarters will serve the country's East Coast and its regional office in Miami will service the US Southeast as well as South America, the auction house said. 



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