International auction house Christie’s report staggering half-year sales of £2.9 billion
Yesterday in London, the auction house Christie’s announced record half-year sales of £2.9 billion ($4.5 billion or €4.2 billion), up some 8% on the same period for 2014. Here, if ever it were needed, is indication that the arts market is plainly prospering.
Described as having been “underpinned by strong results across numerous categories including Impressionist and Modern, Post-War and Contemporary Art and Asian Art”, the company reported that new clients represented a staggering 24% of all buyers. Of the news the firm’s CEO, Patricia Barbizet, remarked:
“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”.
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Very interesting. It seems like the great art houses are doing really well. Can’t really go wrong with art these days. Interesting also that new clients represent almost a quarter of all new buyers in the art market.