CHRISTIE’S INTERNATIONAL ANNOUNCES HISTORIC WORLDWIDE SALES CHRISTIE’S INTERNATIONAL ANNOUNCES HISTORIC WORLDWIDE SALES OF £1.63 BILLION ($3.25 BILLION) FOR THE FIRST HALF OF 2007, UP 32% BY £ OR 45% BY $ FROM THE SAME PERIOD LAST YEAR
News-Antique.com - Jul 16,2007 - Largest Half Year Sales in Art Market History
Sales Include 59 of the World’s Top 100 Paintings Sold at Auction for the Period
The Majority of $1 Million-Plus Lots at New York and London Evening Sales Sold by Christie’s
London/New York – Christie’s International, the world’s leading art business, announced today worldwide sales of £1.63 billion ($3.25 billion) for the first six months of 2007, an increase of 32% by £ (45% by $) on last year’s figure of £1.24 billion ($2.24 billion) for the same period. This figure includes buyer’s premium. In Christie’s salesrooms around the world, 358 works of art sold for more than $1 million, compared to 189 sold during the same period last year. Sales totals include private sales of £82 million/$163 million brokered by Christie’s in the first half of 2007 and post acquisition sales of Haunch of Venison.
“Christie’s robust results for the first half of 2007 delineate an exceptional art market,” said Edward Dolman, Chief Executive Officer, Christie’s International. “Never before has interest in art and collectibles been so widespread. As the world's leading art business, Christie's has inspired our clients, our staff and our colleagues in the art world through spectacularly-edited sales, timely and accurate counsel, and excellent sale returns on the works entrusted to us. The unprecedented geographic breadth and depth of participation in our market is one of the most exciting phenomena we anticipated and executed against, from our sales in Dubai that saw buyers from 19 different countries; to an Asian private collector acquiring the fabulous Baroda Pearls in New York; to casino magnate Dr. Stanley Ho purchasing the splendid 17th century Chinese imperial throne we sold in Hong Kong.
“With our international teams of specialists, auctioneers and representatives in such vibrant cities as Shanghai, Beijing, Mumbai, Dubai and Moscow, and with the power of our online bidding feature Christie’s LIVE™, we offer the Christie’s experience and magic to the entire globe. Our global infrastructure also allows us to source and sell great works of art in the most optimal locations to the benefit of our clients.
“And while our worldwide sales values are second to none, their significance reaches far beyond market share. In today’s art market, characterized by a profound array of choices and an uncompromising search for the highest quality, Christie's has served as the destination of choice for connoisseurs and collectors worldwide. It is a position we are proud to have achieved and recommit ourselves to maintaining.”
International Sale Centres for January – June 2007
For the first half of 2007, Europe, UK & Middle East auction sales totalled £792 million ($1.58 billion), up 33% from the same period last year (up 46% by $), the Americas totalled £635 million ($1.26 billion), up 30% from the same period in 2006 (up 42% by $) and Asia totalled £98 million ($195 million), up 17% from the same period last year (up 28% by $). The breakdown of sales is as follows:
