Auctioneers Figures

Sotheby’s held its very first auction on March 11, 1744, and today it is celebrating this 275-year milestone with the opening of an exhibition detailing its history in pictures.

The UK’s art market reclaimed its second position in the global league table as China’s rapid growth slowed during 2018.

Sotheby’s reported a 16% jump in sales last year to $6.4bn (£4.8bn).

Despite economic concerns such as Brexit and the possibility of global trade wars, the UK’s top contemporary art auction houses posted the highest growth for Modern and contemporary art sales in 2018.

Christie’s reported total sales for 2018 at £5.3bn, up 3% on the previous year – led by the Rockefeller collection which set a record for any private collection at auction.

Sotheby’s France was the top performer in the country last year, boosted by the sale of a Qianlong mark and period vase that became the most expensive lot sold in France in 2018.

Auction house Sotheby’s reported its third-quarter results for the three months to September 30 revealing a net loss of $27.8m (£21.43bn) - down 19% on the $23.5m posted a year ago.

Sotheby’s made more sales but at lower margins in the first half of 2018 according to its latest financial results.

Consignors tempted back by salerooms to sell at auction in 2017 has helped put art top of the league of investment assets, according to the latest report.

Auction house Sotheby’s has reported a 70% jump in private sales in the first three months of 2018 to $247m (£182m).

Sotheby’s reported a 12% jump in sales last year to $5.5bn (£4bn). The US-listed auction house said profit, or adjusted net income, improved by 22% from $99.6m to $121.7m in 2017, boosted by an increase in commission and fees.

Christie’s sold seven out of the top 10 highest-value auction lots around the world last year – boosted by Leonardo da Vinci’s Salvator Mundi.