Christie's 1st Half 2015 Results

Christie's released its first half 2015 sales info, and it was a record half year, with sales totaling $4.5 billion, up 8% from 2014.  For some of the details, see the Christie's produced info-graphic.

The Art Newspaper also reported that private sales were down by 1/3 from the previous year. We had seen that earlier with some of the Sotheby's results as well.  It appears sellers are willing to roll the dice with auction sales, and for quality fine art with guarantees, the downside is limited.

Christie's reports

CONTINUED GROWTH AS CHRISTIE'S HALF YEAR SALES ACHIEVES RECORD TOTAL OF £2.9 BILLION

Continued Growth as Christie’s Half Year Sales Achieves Record Total of £2.9 Billion
New Buyers Grow to 24% as Art Collecting Continues to Engage Global Audiences
Curatorial and Sales Calendar Innovation Results in Highest Sales Week in History
Market Share for Major Categories including Impressionist & Modern, Post-War & Contemporary and Asian Art

London /New York / Hong Kong - Christie’s announces today record half year sales of £2.9 billion, up 8% ($4.5 billion, up 0%) on the same period for 2014. 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.”

Click Info Graphic to Enlarge

Source:  Christie's