Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Auction Houses Down 50% YoY in 2009

January 4, 2010 by Marion Maneker

Kelly Crow runs some numbers on the art market in 2009 in the Wall Street Journal. The comparisons to 2008, of course, leave a bad taste but the idea that anyone would want to see the art market return to the unsustainable levels of 2007-2008 is frightening. Overall, both houses are down around 50% in the major art categories with Sotheby’s having a slightly steeper fall.

Sotheby’s said it auctioned off about $2.3 billion of fine and decorative art last year, down 53% from 2008. The 2009 total included $441 million in contemporary art, down 68% from 2008; $471 million in Impressionist and modern art, down 57%; and $190 million in jewelry, down 13%. Rival Christie’s International PLC said it auctioned at least $2.5 billion of art, down 45.6% from $4.6 billion in 2008. Closely held Christie’s said it would release complete sales figures later this month. […] Fewer than 550 artworks crossed the million-dollar mark at auction last year, half as many as in 2008, according to Artprice, a Paris-based database that tracks global auction results.

The real eye-opener in these numbers is the strength of Sotheby’s jewelry sales which only fell 13%.

Art Market Still in a Blue Period (WSJ)

More from Art Market Monitor

  • Fresh Faces at Winter Antiques ShowFresh Faces at Winter Antiques Show
  • ABMB Salon: In the Age of VolatilityABMB Salon: In the Age of Volatility
  • Christie’s Has $2m in Hudson River School Paintings to Benefit RefugeesChristie’s Has $2m in Hudson River School Paintings to Benefit Refugees
  • Looking Back: MiamiLooking Back: Miami
  • When Art Is a Currency, Impressionist and Modern Works Still Trade WellWhen Art Is a Currency, Impressionist and Modern Works Still Trade Well
  • Maastricht Maintains Its StatureMaastricht Maintains Its Stature

Filed Under: Economic Trends

About Marion Maneker

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

Top Posts

  • Keith Haring’s 1989 Retrospect Comes to Sotheby’s London Prints Sale
  • Rare Photo Album by Dutch Street Photographer Bought at Auction by Rijksmuseum
  • Christie's Announces $70m Picasso Self Portrait
  • David Hockney's $20m Pacific Coast Highway & Santa Monica
  • Four of Picasso's Women Valued at $28m Come to Christie's from Rose-Walters Collection
  • Tony Podesta's Secret Art Buying
  • Norman Rockwell's Not Gay. But Is He a Great Artist?
  • Roy Lichtenstein’s Top Ten Auction Prices
  • Phillips Includes $2.5m Norman Rockwell Painting in November Evening Sale
  • About Us/ Contact
  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor