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Announcing premium-inclusive global sales totals of $5.7bn (£3.6bn) for 2011 - a 9% sterling rise on 2010 - the auction house singled out the 44% rise in the sterling value of private treaty sales as the most significant development for the year.

Totalling £502m, it means they now account for 14% of all sales compared with private treaty sales of just under £350m for 2010, which accounted for 10.5% of Christie's £3.3bn global sales total for that year.

The auctioneers have also been focusing their attention on their internet operation, announcing a 77% increase in unique visitors to their website.

The proportion of people who actually bid via Christie's LIVE, the company's online bidding platform, has only risen from 28% in 2010 to 29% in 2011, but their activity has grown significantly, leading to a 25% increase in the number of internet bids.