Christie’s CEO Steve Murphy spoke to Scott Reyburn of Bloomberg on the occasion of the firm’s release of its 2013 sales figures. One of the brightest of bright spots in Christie’s overall picture is the Contemporary art department (£665.4 million ($1.02 billion) – a 16% increase over last year) which the figures show growing at all levels.
“Contemporary auctions at the top end are quite profitable,” said Murphy. “That New York sale exceeded its profit expectations.”
Contemporary art sales also attracted a 52 percent increase in new clients bidding for works estimated at less than 100,000 pounds, Christie’s said.
“These people weren’t introduced by us. They were already interested,” Murphy said. “We could serve that group with two or three more day sales.”
And, indeed, they are offering more day sales like tomorrow’s New York First Open sale.