CHRISTIE’S 2007 GLOBAL ART SALES TOTAL £3.1 BILLION/$6.3 BILLION Christie’s International, the world’s leading art business, today announced 2007 art sales totals of £3.1 billion/$6.3 billion, a 25% increase in £ and 36% increase in $ over 2006 sales.
News-Antique.com - Jan 26,2008 - • 25% increase over 2006 in £ and 36% increase in $
• Private sales total £268 million/$542 million, up 95% over 2006 in £ and 111% in $
• 793 works of art sold at auction for over $1 million
• Continues market share leadership across international collecting categories, including Impressionist & Modern, Post-War & Contemporary and Jewellery; takes market share lead in American Paintings
• Christie’s LIVE™ celebrates first year anniversary with great momentum; for 2007, £78.2 million/$158 million sold or directly underbid online, including premium
London/New York/Hong Kong – Christie’s International, the world’s leading art business, today announced 2007 art sales totals of £3.1 billion/$6.3 billion, a 25% increase in £ and 36% increase in $ over 2006 sales. The results were achieved through more than 600 sales in 14 saleroom locations worldwide and include auction premiums plus private sales of £268 million/$542 million. For the year, Christie’s sold a total of 793 works of art at auction for over $1 million.
“In 2007 Christie’s once again led the art market in terms of sales, profitability and quality of works offered”, said Edward Dolman, Chief Executive Officer of Christie’s International plc. “Our continued market share lead in the high-end auction sales of Post-War and Contemporary art, Impressionist and Modern art and in Jewellery was the result of our ability to offer the best expert advice available to our clients and market their property globally, employing the most sophisticated, innovative and compelling strategies. Our investment in new and emerging markets, including India, Dubai, Russia and China, as well as in other areas of our business such as private sales, Interiors sales, Christie’s Education and Christie’s Great Estates, has introduced an unprecedented number of collectors to Christie’s. Christie’s has the art market’s largest and most experienced team of specialists and our collective expertise will remain the foundation of our success as we move into 2008.”
2007 Global Initiatives -- Maintaining Leadership
During 2007, Christie’s presented the finest and most desirable works of art and properties and once again led the international art auction market in sales, confirming its position as the world’s leading art business.
Christie’s maintained its leadership in Asia in 2007 with 57% of market share. Sales in Hong Kong alone totalled £234 million/$473 million, up 23% in £ and 33% in $ over 2006, and included such record setting top lots as Cai Guo-Qiang’s Set of Fourteen Drawings for Asia-Pacific Economic Cooperation (HK$74.2million/£4.6 million/US$9.5 million); Chen Cheng-Po’s Sunset in Danshui (HK$50.7 million/£3.16 million/US$6.5 million); Dong Qichang’s Paintings and Calligraphy (HK$48.4 million/£3 million/US$6.2 million) and a magnificent imperial Beijing enamel glass brushpot, Qianlong mark and of the period (1736-1785) (HK$ 67.5 million/£4.2 million/US$8.6 million).
Southeast Asian highlights of the Asia cluster in 2007 included Rudolf Bonnet’s Market Scene (HK$11.5 million/£719,300/US$1.5 million) and I Nyoman Masriadi’s Juling (HK$2.6 million/£229,538 /US$340,000), all of which set world auction records for the artists. Indian sale highlights in 2007 included works from such masters as Atul Dodiya, Subodh Gupta, Ravinder Reddy and