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Christie's First Half '10 Scorecard

August 4, 2010 by Marion Maneker

Kelly Crow responds to Colin Gleadell’s sleuthing out of Sotheby’s first half numbers with these details of Christie’s worldwide sales in the Wall Street Journal. Overall, Christie’s posted $2.57b in sales with 10% of the business coming from private sales ($274m.)

That was a 43% rise over the previous year which included the landmark Yves Saint Laurent-Pierre Bergé sale. It is also a figure that is the second highest total for the company. The rest of the numbers are equally impressive:

  • $853 million of Impressionist and modern art, up 37.4%;
  • $460.7 million of postwar and contemporary art, up 139%
  • $368.2 million of Asian art, up 120.6%%.
  • Christie’s sold $227.3 million of jewelry, jadeite and watches during the first half. Asian buyers paid for 70% worth of Christie’s jewels, compared to 41% last spring, Christie’s said.
  • In the U.S., Christie’s art sales rebounded 116% to $999.6 million compared to last year, while sales at Christie’s London salesroom on King Street totaled $675.2 million, twice its total a year ago.
  • In Hong Kong, Christie’s sold $300.7 million of art, up 132%.
  • In Dubai, one of the sales centers hit hardest by the art crash, sales climbed to $23 million, up from $9.1 million during the first half of last year.
  • Sales remain relatively flat at Christie’s for Russian, Old Masters and 19th-century art. Sales also slid for decorative furniture, including the 20th century decorative arts department where sales dropped 79% to $18.9 million.

Art Sales Revive from their Swoon (Wall Street Journal)

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Filed Under: Economic Trends Tagged With: Christie's

About Marion Maneker

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