Stockholms Auktionsverk (Swedish for "Stockholm's Auction House"), founded in 1674 in Sweden, is the world's oldest auction house. Several times each year at the Nybrogatan showrooms in central Stockholm, high quality items are sold by auctions requiring about 90 seconds per item.
Fortnightly at "Magasin 5" in the Port of Stockholm area chattel, etc. are sold, each item requiring about 20 seconds.
The turnover is about SEK 500,000,000 per year, about the same as competitor Bukowski Auktioner AB, established in 1870. Apart from serving the domestic market for art and antiques these two auction houses (and also third-ranking Uppsala Auktionskammare, established in 1731) are prominent in the lively Russian art market.
This business was founded by Baron Claes Rålamb in 1674. Its services have been used by clients like Sweden's King Charles XI, who sold some hunting rifles for 900 silver coins, Sweden's King Gustav III, who acquired Rembrandt’s painting entitled Kitchen Maid, and Swedish playwright August Strindberg, who purchased some books.
In 1993, private owners purchased Stockholms Auktionsverk from the City of Stockholm. Niclas Forsman is the current CEO and a partner.
According to en.wikipedia