Art Market Monitor

Global Coverage ~ Unique Analysis

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

Underneath Christie’s Impressive 2017 Numbers, a New Strategy Emerges

February 12, 2018 by Marion Maneker

 
This look into the Christie's 2017 results and forward market strategy is available to AMMpro subscribers. Monthly subscriptions begin with the first month free. Feel free to subscribe and cancel before you are billed.  A few weeks ago, Christie's released its numbers for 2017 behaving a little more like a public company than the private it firm that it is. Much is made in the coverage of the auction market about Christie's having an advantage in not having to report profit and loss as well as other strategic and economic information because it is privately owned. That may be so. But by putting a robust public relations effort behind the release of its 2017 trading figures and making CEO Guillaume Cerutti available to the Financial Times, New York Times, Wall Street Journal and other outlets, Christie's is tacitly demonstrating that it craves some of the visibility its public rival gets from its periodic run of the financial and media gauntlet. By now you surely have heard that Christie's had a banner year in 2017 when the auction market came roaring back to its previous highs, including a record setting auction price that more than doubled the previous record for any auction lot. In this post, we're going to recap some of the coverage of Christie's results, delve into some of the reported numbers and, finally, make a case for what we believe to be the outlines of a new strategy for the auction and luxury markets being assembled at Christie's.

Sign up to Art Market Monitor Premium today

You need a membership to AMMpro to view this article and other exclusive content daily.

You can register today for $90 per month—with your first month free!—or for $756 per year (no free trial period.)

Screenshot 2016-08-05 16.28.45

If you already have an account, sign in here:

 
 
Forgot Password

Filed Under: General, Premium

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

  • Keith Haring’s 1989 Retrospect Comes to Sotheby’s London Prints Sale
  • Asian Art Market Continues Rapid Ascent at Sotheby’s $270 M. Hong Kong Sales
  • Roy Lichtenstein’s Top Ten Auction Prices
  • Four of Picasso's Women Valued at $28m Come to Christie's from Rose-Walters Collection
  • Tony Podesta's Secret Art Buying
  • How to Chant Like an Auctioneer
  • Emily Ratajkowski Shows Off Her Richard Prince—or Is That Just a DIY New Portrait?
  • Christie's Announces $70m Picasso Self Portrait
  • Tracey Emin Neon Lights Up Sotheby's 'Contemporary Showcase' Pop-Up
  • Norman Rockwell's Not Gay. But Is He a Great Artist?
  • 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