Art Market Monitor

Global Coverage ~ Unique Analysis

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

Private Sales & Internet Bidding Up; US Sales Down at Christie's in 2011 So Far

July 21, 2011 by Marion Maneker

Christie’s has released it’s first half sales totals. The company had $3.2 billion in turnover, a 19% rise in dollars (but only 10% in Sterling.) Private sales soared reflecting Christie’s emphasis on building the category. Although there were many new clients buying at the auction house, the vast majority of them come from Europe and the US, not Asia. Christie’s business has moved toward London with European sales rising the most and US sales falling by 6% in dollar terms.

  • Christie’s Private Sales secured £286.7 million ($467.3 million) of sales in Jewellery, Old Masters, Impressionist and Modern Art, Asian Art, American Art and Post-War and Contemporary Art, up 57% year-on-year.
  • Works priced between £500,000 and £1 million also continue to sell particularly well, with average sell-through rates in excess of 90%.
  • Continental Europe, the US and the UK continue to account for the highest proportion of new clients with 78% of new clients in the first half of 2011 from these regions. Greater China (Mainland China, Hong Kong and Taiwan) accounted for 13% of new client registrations in the period, an increase of 20% year-on-year.
  • nearly one-fifth (19%) of Christie’s clients now bid online (up 2% year-on-year) with the total value of lots sold online rising 24% year-on-year to £37.5 million ($59.9 million).

More from Art Market Monitor

  • Auction House Veterans Unveil New Data and Private Dealing PlatformAuction House Veterans Unveil New Data and Private Dealing Platform
  • Christie’s to Auction $8M. Picasso Alter-Ego Minotaur and Muse Scene in Global ONE AuctionChristie’s to Auction $8M. Picasso Alter-Ego Minotaur and Muse Scene in Global ONE Auction
  • Romania Gets Sophisticated About Art MarketRomania Gets Sophisticated About Art Market
  • Deputy Chief Executive Officer, Stephen Brooks, to Depart Christie’s in AugustDeputy Chief Executive Officer, Stephen Brooks, to Depart Christie’s in August
  • A Look at the Effect of Third Party Guarantees on BiddingA Look at the Effect of Third Party Guarantees on Bidding
  • The Art Mess Left By Australia's Fraudster ColesThe Art Mess Left By Australia's Fraudster Coles

Filed Under: Auction Results

About Marion Maneker

LiveArt

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

  • 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
 

Loading Comments...