More on Christie's Sales Record

Bloomberg has an article on Christie's record breaking sales of 2010.  The preliminary$5 billion sales figure which includes both auction and private sales is 52% higher than 2009. Part of the increase is attributed to some record sales, such as Picasso's Nude, Green Leaves, Bust which sold for $106.5 million, as well as increased activity from Hong Kong and mainland Chinese collectors.

Final figures should be released in Janurary for privately held Christie's and in late February or early March for publicly traded Sotheby's.

Bloomberg reports

Christie’s International sold a record 3.2 billion pounds ($5 billion) of art and other collectibles in 2010, according to a provisional figure released today by the London-based auction house.

The total, comprising worldwide auction and private sales, surpassed the company’s previous high of 3.1 billion pounds for 2007, said Christie’s, which is owned by French billionaire Francois Pinault. The provisional 2010 sales rose 52 percent from 2.1 billion pounds a year earlier.

Sales were boosted by star events such as the $106.5 million paid for Picasso’s 1932 painting “Nude, Green Leaves and Bust” in New York in May, a record for a work of art at auction, and by surging demand in Hong Kong. On Nov. 29, a 14.23 carat pink diamond fetched HK$179.9 million ($23.2 million) at Christie’s, the most for a gem in Asia.

To read the full Bloomberg report, click HERE.