Art Market Monitor

Global Coverage ~ Unique Analysis

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

Athena’s London Market Recap: What Can We Learn From These Numbers?

July 13, 2016 by Marion Maneker

Athena London Overview 616

Athena Art Finance has released their overview of the London sales cycle of Impressionist, Modern and Contemporary art. These charts provide a fair amount of information about the horse race between auction houses as a newly aggressive Sotheby’s has demonstrated its ability to hold sales that project market confidence with high sell-through rates and solid prices achieved relative to estimates.

What do these charts tell us?

  1. Overall, Sotheby’s had the strongest performance this cycle measured in gross sales (see Hammer Price Totals, upper right) as well as the overall number of lots (see Number of Lots, middle right.)
  2. Perhaps more important to consignors, Sotheby’s led in the number of lots that sold above the estimate range in both the day and evening sales. (see Perf v Est, middle left.)
  3. Sotheby’s didn’t walk away with all of the bragging rights. Christie’s had a slightly better sell through rate across all sales at 79% (see Sell Through Rate, upper left.)
  4. Christie’s was also able to much better than the other houses in getting works sold within the estimate range during the Evening sales. (see Perf v Est, middle left.)
  5. That kind of superior sale management at Christie’s was also seen in their having the lowest percentage of works bought in during the day and evening sales (see Perf v Est, middle left.) Clearly Christie’s is hustling to make that sell-through rate happen.
  6. Although Phillips did not win any of these categories, the firm continues to make gains broadening its sales base and performance.
  7. Buried deep in these figures is the final point to make. As the art market moves away from the highest value properties, Sotheby’s was able to generate the greatest number of lots in highly profitable sales range between £100k and £1m (see Lot Price Distribution, bottom.)

Athena Art Finance June 2016 London Post-Sale Recap

More from Art Market Monitor

  • Danny Goldberg: The Evolution of a Global Art CollectorDanny Goldberg: The Evolution of a Global Art Collector
  • Taking Stock of Russian ArtTaking Stock of Russian Art
  • Swann African American ResultsSwann African American Results
  • Dealer Hi-JinksDealer Hi-Jinks
  • Conceptual Artists Hobbled by MadoffConceptual Artists Hobbled by Madoff
  • Hirst's Top 5 Art MomentsHirst's Top 5 Art Moments

Filed Under: General

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

  • After Pandemic’s Rapid Change, Sotheby’s Has 8 Predictions for 2021
  • Keith Haring’s 1989 Retrospect Comes to Sotheby’s London Prints Sale
  • A Season of Improvisation: Fall 2020 New York Modern and Contemporary Art Auction Analysis
  • Tony Podesta's Secret Art Buying
  • Four of Picasso's Women Valued at $28m Come to Christie's from Rose-Walters Collection
  • Norman Rockwell's Not Gay. But Is He a Great Artist?
  • Roy Lichtenstein’s Top Ten Auction Prices
  • How to Chant Like an Auctioneer
  • Basquiat's Last Girlfriend
  • Christie's Announces $70m Picasso Self Portrait
  • 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