Sotheby’s H1 2013 Up

Sotheby’s provided these highlights from their 2013 results so far:

STRONG FIRST HALF OF 2013 FOR THE GLOBAL ART MARKET

Sotheby’s First Half 2013 Auction Total: $2.55 billion, up over 2012

For comparison, auction sales for the First Half of 2012 totaled: $2.4 billion*

Sotheby’s First Half 2013 Impressionist & Modern Art sales $740.6 million, up over 2012

Sotheby’s First Half 2013 Contemporary Art sales $757.7 million, up over 2012

Sotheby’s is a pioneer in broadening the art market

In the first half of 2013, we have seen clients participating with us in a number of new ways and in a number of new categories
65% of clients who transacted with us privately, did so for the first time
Nearly 40% of all bids executed in the first half of 2013 came from existing clients who were bidding in a new category for the first time
More than 30% of all clients participating in our global salesrooms registered for their paddle on our website

The new markets are having a transformative effect on the art market and Sotheby’s is benefitting from having been the first to gain a foothold in locations including China, Russia and Brazil

In the first half of 2013, we have had more buyers from Asia, the Middle East and Latin America than we have seen in recent seasons
22% of our first time buyers this season came from Asia
Sotheby’s is celebrating its 40^th anniversary in Asia this year
Sotheby’s history in Beijing: we held our first sale in 1988, Sotheby’s China held its first auction last September and we are looking forward to another sale before the end of the year

SOTHEBY’S SOLD $1 BILLION IN IMPRESSIONIST, MODERN AND CONTEMPORARY ART IN OUR MAY AND JUNE AUCTIONS

May 2013 auctions of Impressionist, Modern & Contemporary Art in New York achieved a total of $665.7 million / £432.5 million

Seven works were sold for more than $20 million
Global bidding drove results across the two weeks, with participation from 35 countries in both the Impressionist & Modern and Contemporary evening sales
The sales were led by a selection of 116 works from the Collection of Alex & Elisabeth Lewyt, which brought an impressive $104.2 million / £67.1 million
Records were set for artists including: Gerhard Richter (and any living artist), Barnett Newman, Dan Colen, Georges Braque and Honoré Daumier

June 2013 auctions of Impressionist, Modern & Contemporary Art in London realized $350.5 million/ £225.7 million

Record number of registered bidders from Asia in a London Impressionist & Modern Art sale.
Participation from 38 countries in the Contemporary Evening sale
One in ten registered bidders in the Contemporary Evening sale came from the new markets
Monet’s Le Palais Contarini sold for £19.7m – highest price for any work sold in London during the summer season

*Note: First Half 2012 figures included $120 million paid for Edvard Munch’s The Scream