Christie’s have released global sales figures of £3.92bn, a 10% annual rise. The figure, which includes buyer’s premium, represents the highest sales total in the company’s history.
The privately-owned company say encouraging
new collectors to acquire works of art has been key to the third
straight year of record results. In 2012 the average number of
registered bidders per auction was 53% higher than a decade ago,
while 19% of all registered bidders were new clients.
Many of these came via Christie's website
with 39% of participants in the firm's inaugural programme of
online-only sales bidding at Christie's for the first time.
European and US clients accounted for 75% of
While sale totals for Asian art and auction
sales in Hong Kong decreased from the record levels of 2011, Asian
clients represented 19% of registered bidders at global sales.
Post-War and Contemporary art led the
categories with sales of £986.5 million - a quarter of all revenues
and a 34% increase over 2011. The category saw increased demand at
every level, with a 14% growth in the number of registered bidders
for works of art under £100,000.
The Post-War and Contemporary art evening
auction in New York on November 14 realised $412.3m (£259.7m),
most valuable auction ever held in the category.
While Christie's sold 686 works at auction
for over $1m in 2011, the market at more accessible price levels
represents the majority of transactions and continued to perform
Christie's South Kensington saleroom, which
offers works of art from under £1000, recorded its highest ever
total for the third consecutive year, having welcomed a 10% growth
in registered bidders and a 20% increase in total sales to
Sales at King Street were up 11% to
The headline figure of £3.92bn incorporates private sales of
£631.3m, an increase of 26% on the same period last year.