CHRISTIE’S ART SALES TOTAL £2.1 BILLION IN FIRST HALF OF … · About Christie’s Christie’s, the world's leading art business, had global auction, private and digital sales
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P R E S S R E L E A S E
FO R I M M E D I A T E R E L E A S E | 2 0 J u l y 2 0 1 6
CHRISTIE’S ART SALES TOTAL £2.1 BILLION IN FIRST HALF OF 2016
Christie’s Continues to Lead Global Art Market
Curated Sales and Marquee Weeks Drive Strong Sell Through Rates and Record Prices
Strong Demand for Masterpieces Led by Henry Moore Record Price
36% Increase in New Buyers in price bands £1m - £5m
E-commerce sales increase by 96%, with LIVE and online sales reaching $100m
London – Christie’s announces sales of £2.1bn ($3bn), for the first half of 2016, compared to £2.9bn ($4.5bn)
for the same period in 2015. The results are underpinned by a strong, diverse global buyer base, growth in
online and the volume of lots sold for under £1 million. Sales volumes are down by 29%, mainly due to the
impact of a drop in supply of works of art above £20 million at auction, with 29 lots selling over £5m versus
47 lots in same period in 2015.
Highlights:
Carefully selected and curated sales continue to appeal to buyers and demonstrate collectors’
appetites for cross-category offers, both in the real-time auction and online platforms. The Defining
British Art Evening sale in June, celebrating the 250th anniversary of Christie’s, realised sales of
£99,479,500/$133,203,051. Bound to Fail led the New York May evening sales and achieved
$78,123,250/£54,027,144. Classic Week in New York in April achieved $70,142,751 and saw a 16%
increase in sell-through rate for the Old Master category.
Demand for masterpieces by top collectors continues with 88% of all works offered over £5 million
globally selling, led by Henry Moore’s Reclining Figure: Festival (see above) sold in London in June,
one of many world records achieved over the season of sales.
New buyers account for 25% of all buyers in the first half of 2016. New clients in the Americas
increased by 22%, with the New York saleroom bringing in 21% of new buyers globally. Asia and
EMERI also accounted for 19% and 44% of new buyers respectively. 36% more new buyers
participated at the price point £1 million and £5 million.
E-commerce sales grew 96% in the period from £9.9m ($15.3m) in the same period in 2015 to
£19.4m in 2016 ($28m), reflecting success of investment in online capabilities. This growth was due
to an increase in the number of sales offered, with 92% sell-through rates by value and 33% of lots
sold at or above the high estimate. The average value of an online lot was $8,251 (excluding Wine).
The number of clients buying through online-only sales increased 60%, with 26% (up from 16%) of
*In accordance with standard accountancy practice, Christie’s uses a sales weighted average to account for exchange rate fluctuations. During 2016
please note that all cumulative sales figures are reported in £ and US$, using a sales weighted average (SWA) of 1: 1.440
The prices for individual lots for 2016 are reported as when sold. All auction sales figures include premium .They do not reflect costs or financing fees.
All market share totals are based on publicly available competitor information.
Christie’s, the world's leading art business, had global auction, private and digital sales in the firs t half of 2016 that totalled £2.1 billion
/ $3 billion. Christie’s is a name and place that speaks of extraordinary art, unparalleled service and expertise, as well as international
glamour. Christie’s offers around 350 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewellery,
photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie's also has a long and successful
history conducting private sales for its clients in all categories, with emphasis on Post-War & Contemporary, Impressionist & Modern,
Old Masters and Jewellery.
2016 marks Christie’s 250 th anniversary. Founded in 1766 by James Christie, Christie's has since conducted the greatest and most
celebrated auctions through the centuries providing a popular showcase for the unique and the beautiful.
Christie’s has a global presence with 54 offices in 32 countries and 12 salerooms around the world including in London, New York,
Paris, Geneva, Milan, Amsterdam, Dubai, Zürich, Hong Kong, Shanghai, and Mumbai. More recently, Christie’s has led the market
with expanded initiatives in growth markets such as Russia, China, India and the United Arab Emirates, with successful sales and
exhibitions in Beijing, Mumbai and Dubai.
*Estimates do not include buyer’s premium. Sales totals are hammer price plus buyer’s premium and do not reflect costs, financing fees or application of buyer’s or seller’s credits.
2016 marks Christie’s 250th Anniversary E-Commerce client base continues to grow
Luxury
(21%)
Decorative
Arts
(15%)
Asian
(11%)
20th and 21st
Century
Culture
(18%)
Post War &
Contemporary
(14%)
Impressionist
& Modern
(9%)
Christie’s
South
Kensington
attracted 15%
of new buyers
Buyers
under £100k
up 4%
Buyers
entering at
price points
£1m-£5m up
36%
% of bought value
by region for H1
2016
$100m LIVE and online sales
96% increase in e-commerce sales from
the same period for 2015
60% increase in clients buying through
online only sales
EMERI
£99.5m of sales for
Defining British Art
Evening Sale Asia
Hong Kong 30th anniversary
sale exceeded high estimate
achieving sales of
HKD631.6m
Americas
Curated, cross-category sale
‘Bound to Fail’ led NY
evening sales and achieved
$78.1M
This March, Christie’s celebrated its 10th anniversary inDubai with a series of sales across three days, whichrealised a collective $15,966,840/ AED59,212,557
A specially curated sale, 30 Years: The Sale, was heldin May in Hong Kong, totalling HK$631,560,000/US$81,712,921. The sale was 100% sold with 40% oflots selling above high estimate
2016 marks Christie’s 250th anniversary and wascelebrated with the Defining British Art Evening Saleand Loan Exhibition in London, King Street in June
Anniversaries and Key Events in the First Half of 2016
As part of the 250th Anniversary campaign, Christie’s
London has been working with the artist Adam Dant
as ‘Artist in Residence’.
A Private sale of two
masterpieces by
Rembrandt van Rijn of
Maerten Soolmans and
his wife Oopjen Coppit
was secured for the
Louvre & the
Rijksmuseum
Highlights at Auction: January – June 2016
Omar El-Nagdi
Sarajevo
$1,145,000/AED4,162,075WORLD AUCTION RECORD FOR
THE ARTIST
March – Dubai: Now and Ten
Tony O’Malley (recto) and Francis
Bacon (verso)
Currach, Clare Island (recto), Evening
Landscape Tehidy Hospital (verso)
£434,500/$620,901
March – London, South Kensington:
Modern British & Irish Art
Jean-Michel Basquiat
Untitled
$57,285,000/£39,726,075WORLD AUCTION RECORD FOR
THE ARTIST
May – New York: Post-War and
Contemporary Art
The Oppenheimer Blue
CHF56,837,000/$57,541,779WORLD AUCTION RECORD FOR A
JEWEL
May – Geneva: Magnificent
Jewels
William Shakespeare
Shakespeare’s First Folio:
Comedies, Histories & Tragedies
£1,874,500/$2,746,143
May – London, King Street:
Shakespeare: The First Four Folios
A magnificent very rare large blue
and white ‘Dragon’ Jar
HK$158,040,000/US$20,447,642
May – Hong Kong:
30 Year: The Sale
Henry Moore
Reclining Figure: Festival
£24,722,500/$33,103,428WORLD AUCTION RECORD FOR
THE ARTIST
June – London, King Street:
Defining British Art
Jean de Cambrai
Two marble Mourners from the
Tomb of Jean de France
€5,025,000/$5,652,190
June – Paris: Sculpture et
Objets d’Art Européens
Alighiero Boetti
Mappa
€1,387,200/£1,110,648
April – Milan: Modern and
Contemporary
Frida Kahlo
Dos desnudos en el bosque (La tierra
misma)
$8,005,000/£5,551,318WORLD AUCTION RECORD FOR THE ARTIST