Auctioneers Figures

SOTHEBY’S dependence on the contemporary art market could hardly be clearer than in their latest set of figures.

CHRISTIE’S have announced sales of £1.8bn ($3.5bn) for the first half of 2008, a ten per cent increase on the same period last year.

CONTEMPORARY art may still be heading skywards, but the imminent buyer’s premium rate increases – and Sotheby’s latest set of results – show that pressure at the margins is as intense as ever.

SOTHEBY’S have closed the gap between themselves and Christie’s on worldwide sales in 2007, announcing a record $6.2bn of consoldiated sales to Christie’s $6.3bn.

Spink, the specialist London coin and stamp auctioneers, have announced auction revenues of £23.8m including premium for 2007.

PHILLIPS de Pury more than doubled their auction sales total thanks to the booming market for contemporary art and their increasing presence in London.

THE effect of their new salerooms in Rome and New York saw London book specialists Bloomsbury Auctions post a hammer total of £20.4m for 2007.

SOTHEBY’S have released interim headline sales figures for 2007, which show worldwide auction totals up 44 per cent on 2006 at $5.4bn.

CHRISTIE’S have maintained their lead over their rivals in wine sales thanks mainly to strong totals posted in Europe.

Christie’s have confirmed their position as the art market’s biggest business, announcing 2007 premium inclusive sales of £3.1bn ($6.3bn).

‘Best ever’ year with $600m global sales

Adams of Dublin were once again top of the Irish rooms posting a €19.4m (£14.6m) hammer turnover for 2007.

Prize lots boost smaller salerooms

For the first time, a trio of auction firms pulled clear of the field in Paris in 2007.

Sotheby’s have revised employee incentive packages in a move that should help stabilise costs and prevent key staff from being poached by rivals.

Lyon and Turnbull have announced a record turnover of almost £9m for their latest year of trading.

Higher charges and a more sophisticated system of auction guarantees have helped Sotheby’s reap record profits for the second quarter of 2006, doubling profits for the first half of the year compared to 2005.

The power of one major collection to transform an auction company’s figures was dramatically shown this month when Christie’s France announced sales figures of €122.8m (including premiums) for the first half of 2006.

SOTHEBY’S have recorded a 30 per cent rise in first quarter revenues from 2005, with the 2006 total coming in at $96m.

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