Heritage Auctions released figures for its 2016 sales today. The company had $850m in sales, down a little more than 1% from the year before but essentially flat when the rest of the auction business has seen substantial drops. The company’s efforts in Contemporary art have given them a 28% rise in the fine art category.
Here’s the company’s press release:
“Through diversity, transparency and ardent attention to our clients, Heritage solidified and increased its commanding lead as the largest auction house founded in America,” said Heritage Co-Chairman James Halperin. “And we’re anticipating an even better 2017.”
U.S. Coins remains Heritage’s largest category, with 2016 auction totals exceeding $192 million, outselling all other numismatic auction houses combined by a wide margin according to the Professional Numismatists Guild annual survey, which shows Heritage maintaining its 56 percent market share.
World & Ancient Coins at Heritage realized about $47 million, while Currency posted over $29 million auction sales. Both categories also showed early signs of increased market strength at major Heritage auctions in Florida and New York which realized almost $70 million during the first 10 days of January 2017.
- Heritage’s Sports auctions grew from $42 million in 2015 – already more than double any other auction firm’s Sports Collectibles sales – to an incredible $57.4 million in 2016.
- Heritage’s already-dominant Comics and Comic & Animation Art Auction category was another juggernaut, with total realized auction prices realized jumping from $34 million to a record $43 million, again outselling all other auction competitors combined.
- Fine Jewelry, Timepieces and Luxury Accessories at Heritage combined for a solid year as well, with more than $41.7 million in auction totals (more than $30 million in Jewelry and Watches and more than $10.7 million in Luxury Accessories), versus more than $26 million ($15 million in Jewelry and Watches & $11 million in Luxury Accessories) in 2015.
- Movie Posters posted sales of $7.95+ million vs. $7.4+ million in 2015.
- Luxury Real Estate saw sales increase to $19 million vs. $11.2 million for 2014 and 2015 combined.
- Wine recorded auction totals of $10.8 million in 2016 vs. $7.55 million in 2015.
Strategic growth continued as:
- The company expanded its national footprint, opening an office in Palm Beach, Florida, and a full-service showroom in Chicago, Illinois.