Where was the world's oldest auction house established in 1674?

The world’s oldest auction house was established in Stockholm in 1674. Known today as Stockholms Auktionsverk, it was founded in Sweden on the initiative of Baron Claes Rålamb, then governor of Stockholm.

The institution began as a formal auction chamber serving Stockholm’s expanding commercial and civic life. Early auctions handled possessions and cultural goods, making the auction house an important marketplace for Swedish history as well as a practical way to sell property.

Stockholms Auktionsverk has continued operating for more than 350 years and now specializes in fine art, antiques, design, crafts, jewellery and books. Its long history is why it is often described as the world’s oldest auction house still in existence.

A common mix-up is Sotheby’s, which is far better known internationally but was founded in London in 1744—70 years after Stockholm’s auction house. The year 1674 refers to the founding of the Stockholm institution, not the invention of auctions themselves, which are much older.