The First Art Newspaper on the Net   Established in 1996 United States Monday, August 19, 2019

Continued growth as Christie's half year sales achieves record total of $4.5 billion
Picasso's Les femmes d'Alger (Version O), photographed at Christie's King Street in London, March 23, 2015. Photo: Christie's Images Ltd 2015.

NEW YORK, NY.- Christie’s announces record half year sales of £2.9 billion, up 8% ($4.5 billion, up 0%) on the same period for 2014.1 Results were underpinned by strong results across numerous categories including Impressionist and Modern, Post-War and Contemporary Art and Asian Art. The company has focused on curatorial innovation and a revised sales calendar to attract collectors at all levels across all geographies, and continues to invest in online platforms as well as traditional salerooms and Private Sales. New clients represented 24% of buyers. The number of middle market buyers grew by 14% and further reflects the continued commitment of Christie’s to offering art and objects across a broad spectrum of collecting areas and price points.

Patricia Barbizet, Christie’s Chief Executive Officer, said: “This season, using thoughtful curatorial innovation, we have worked with our clients to explore different genres, geographies and eras of creativity as the boundaries of their taste and interests expand. During the first half of 2015 Christie’s clients spanned 99 countries, demonstrating how truly international sales activity is at all levels and reflecting the expanse of the art market. We are meeting new demands while continuing to show strength in core categories and maintaining market share. Buyer activity of lots between £100,000 and £1,000,000 continues to grow, with the number of buyers up 14%. Our early investment in online and E-commerce platforms continues to add value across the business. We look forward to more innovative collaboration across categories and regions during the second half and remain fluid as we challenge traditional models of auction for new models of selling art.”

Category Demand
Impressionist and Modern Art at Christie’s enjoyed its strongest first half result ever, closing the season at £771.6 million ($1.19 billion) in total global sales and re-establishing Christie’s as the global market leader in this category. Continuing demand in this category was demonstrated by two significant records set in May: a new world auction record of $179.4 million for any work of art, set through Christie’s sale of Pablo Picasso's 1955 masterpiece Les femmes d'Alger, (Version “O”), and a new world auction record of $141.3 million for any sculpture, set by Alberto Giacometti’s L’homme au doigt (Pointing Man). The related categories of Modern British Art, American Paintings, and Latin American Paintings that make up the Impressionist and Modern Art group also performed well in the first half, realising a combined total of £848.2 million, an increase of 36% over the same period last year ($1.3 billion, up 27%). Christie’s continues to lead the market in the Post-War & Contemporary Art category, increasing sales by 16% to £927.7 million ($1.4 billion, up 8%). The Post-War and Contemporary Art Evening Sale on 13 May in New York achieved sales of $661.1 million, highlighting an innovative cross-category sale week that set a new and unprecedented benchmark in auction history, generating a total of $1.7 billion.

Asian Art increased sales 34% to £298.3 million ($461.4 million, up 25%). This reflects in part the success of the collection of Robert Hatfield Ellsworth at Christie’s New York in March which realised a combined total of $134 million, quadruple pre-sale expectations. In addition, the results of Hong Kong’s sale series in May and June further strengthened this statistic. Sales in Old Masters, including 19th Century European Paintings and Russian Art fell 32% to £71.1 million ($110 million, down 37%). This was felt across the whole market due in part to a drop in consignments for the half year and buyer selectivity. Christie’s retained its market leadership in the Luxury category, which included Jewellery, with sales totalling £247.2 million ($382.3 million).

Geographic Flows
Strong results were recorded by sales totals in each region, with the Americas showing record half year growth of 35% to £1.4 billion ($2.2 billion, up 26%), in part reflecting the record-breaking New York sales in May.

EMERI sales totalled £835.5 million ($1.3 billion), a 4% decrease on the same period last year (11% in $). Activity from the Middle East was strong, with the number of buyers for the region increasing 14%. New buyers increased 8% in the region for the period, with an 87% growth in spend. Dubai saw sales growth of 17% by value, increasing to £9.7 million ($14.9 million, up 9%). Several key European sites had a successful first half, with Italy showing a 73% growth in sales total to £14 million ($21.7 million, up 61%) and Paris experiencing growth of 41% to £88.8 million ($137.3 million, up 31%). Amsterdam also grew its sales 24% to £14.7 million ($22.8 million, up 16%). Several significant sales in London beat their high estimate, including the February Art of the Surreal Evening Sale, which totalled £67 million against a high estimate of £53.5 million.

Asia continued to perform well in many areas. Sales in the region were up 16% to £294.2 million ($455.1 million, up 8%), with Hong Kong seeing strong results for June sales of £269 million ($417.6 million) and the June Magnificent Jewellery auction achieving the highest ever total for Asia at £77.9 million ($117.9 million).

Mainland Chinese buyers also increased spend in global sales by 47%. Commitment to sale innovation and reaching new customers continues to be a priority in the region, with Shanghai introducing a series of creative sale concepts and fresh new works of art highlighting emerging Chinese contemporary artists, and Chinese and Asian Contemporary Design planned for the Autumn season.

Increasing prices have brought value growth across the board with 21% increase in EMERI buyer spend, 18% increase in the Americas and 15% increase in Asia.

Overall Auction Sales realised £2.6 billion ($4 billion). Online Sales realised £9.9 million ($15.3 million) as Ecommerce continues to be an important entry point for collectors, accounting for 16% of all new buyers.

Online art sales have also proved successful in markets including Asia, where buyers online have increased 31%. 74% of visitors to the E-commerce channel were new to in 2015. Interest from middle-market highlights the importance of sites such as South Kensington in London which attracted 23% of new buyers to the company. Private Sales are on track for a record year with £333 million ($515 million) in sales for the first six months of 2015 with a significant pipeline of business activity expected to close in the second half of 2015.

Today's News

July 22, 2015

Exhibition on Figurative painting in West Germany from the 80s opens in Frankfurt

Continued growth as Christie's half year sales achieves record total of $4.5 billion

Nine photographs by Paul Strand acquired for Scottish National Portrait Gallery

Exhibition at Upper Belvedere honors Ferdinand Georg Waldmüller on the 150th anniversary of his death

Extensive exhibition of collection of Rudolf von Alt's works opens in Munich

Exhibition emphasizes Moholy-Nagy's use of painting as a means of overcoming limits of technology

Cars from the du Pont collection to be offered at Bonhams' Preserving the Automobile Auction

The world's leading international tribal art show broadens it's scope to include Asia

Duncan Pescod appointed West Kowloon Cultural District Authority Chief Executive Officer

First retrospective exhibition for Kenneth Rowntree since his death opens at Pallant House Gallery

Exhibition celebrates a powerful series of narrative paintings of the Anglo-Boer War by John Meyer

Get ready for fireworks as Morphy's presents its Premier Advertising Auction, July 26

Ireland shrugs off French riddle over Nobel laureate W.B. Yeats remains

Victoria & Albert Museum to open refurbished Toshiba Gallery of Japanese Art

Monaco sale results for Artcurial Motorcars

A naval hero's medals up for auction

Floris Neusüss: Dreams + Photograms 2015 on view at Von Lintel Gallery

NFL 'Deflategate' football fetches $43,740 at auction

Wayne Carson, writer of 'Always On My Mind,' dies at 72

Unique exhibition from Birmingham-based artist Vanley Burke opens at Ikon

Auckland Art Gallery spotlights five contemporary New Zealand artists in new exhibition

National Portrait Gallery announces first-ever American Portrait Gala

Art Southampton 2015 draws critical acclaim from collectors, art advisors, curators

Most Popular Last Seven Days

1.- Conservation reveals Wellington Collection work was painted by Titian's Workshop

2.- New dinosaur discovered after lying misidentified in university's vaults for over 30 years

3.- Unseen Texas Chainsaw Massacre outtakes and stills sold for a combined $26,880

4.- National gallery reveals conserved Italian altarpiece by Giovanni Martini da Udine

5.- London's Tate Modern evacuated after child falls, teen arrested

6.- Bavarian State Minister of the Arts restitutes nine works of art

7.- Boy thrown from London's Tate Modern is French tourist visiting UK

8.- Child thrown from London gallery has broken spine, legs and arm

9.- £10 million Turner masterpiece may leave British shores

10.- Tourists banned from sitting on Rome's Spanish Steps

Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .


Ignacio Villarreal
(1941 - 2019)
Editor & Publisher: Jose Villarreal
Art Director: Juan José Sepúlveda Ramírez

Royalville Communications, Inc
Founder's Site. The most varied versions
of this beautiful prayer.
to a Mexican poet.

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site
Tell a Friend
Dear User, please complete the form below in order to recommend the Artdaily newsletter to someone you know.
Please complete all fields marked *.
Sending Mail
Sending Successful