P R E S S R E L E A S E
FO R I M M E D I A T E R E L E A S E | 2 0 J u l y 2 0 1 6
CHRISTIE’S ART SALES TOTAL £2.1 BILLION IN FIRST HALF OF 2016
Christie’s Continues to Lead Global Art Market
Curated Sales and Marquee Weeks Drive Strong Sell Through Rates and Record Prices
Strong Demand for Masterpieces Led by Henry Moore Record Price
36% Increase in New Buyers in price bands £1m - £5m
E-commerce sales increase by 96%, with LIVE and online sales reaching $100m
London – Christie’s announces sales of £2.1bn ($3bn), for the first half of 2016, compared to £2.9bn ($4.5bn)
for the same period in 2015. The results are underpinned by a strong, diverse global buyer base, growth in
online and the volume of lots sold for under £1 million. Sales volumes are down by 29%, mainly due to the
impact of a drop in supply of works of art above £20 million at auction, with 29 lots selling over £5m versus
47 lots in same period in 2015.
Highlights:
Carefully selected and curated sales continue to appeal to buyers and demonstrate collectors’
appetites for cross-category offers, both in the real-time auction and online platforms. The Defining
British Art Evening sale in June, celebrating the 250th anniversary of Christie’s, realised sales of
£99,479,500/$133,203,051. Bound to Fail led the New York May evening sales and achieved
$78,123,250/£54,027,144. Classic Week in New York in April achieved $70,142,751 and saw a 16%
increase in sell-through rate for the Old Master category.
Demand for masterpieces by top collectors continues with 88% of all works offered over £5 million
globally selling, led by Henry Moore’s Reclining Figure: Festival (see above) sold in London in June,
one of many world records achieved over the season of sales.
New buyers account for 25% of all buyers in the first half of 2016. New clients in the Americas
increased by 22%, with the New York saleroom bringing in 21% of new buyers globally. Asia and
EMERI also accounted for 19% and 44% of new buyers respectively. 36% more new buyers
participated at the price point £1 million and £5 million.
E-commerce sales grew 96% in the period from £9.9m ($15.3m) in the same period in 2015 to
£19.4m in 2016 ($28m), reflecting success of investment in online capabilities. This growth was due
to an increase in the number of sales offered, with 92% sell-through rates by value and 33% of lots
sold at or above the high estimate. The average value of an online lot was $8,251 (excluding Wine).
The number of clients buying through online-only sales increased 60%, with 26% (up from 16%) of
A very rare ‘Dragon’ Jar
realises HK$158,040,000
during 30 Years: The Sale in
Hong Kong in May
Henry Moore, Reclining Figure:
Festival sets a w orld record for the
artist at auction, realising £24,722,500
in 250th anniversary sale
The Oppenheimer Blue
realises CHF56,837,000,
setting a w orld record for a
jew el at auction
El Greco’s The Entombment of
Christ, realises $6,101,000 during
Classic Week in New York as new
buyers explore the category
© S
usan Y
oung
new buyers choosing an online sale for their first transaction with Christie’s. Total sales acquired
online (via LIVE or online only sales) has reached $100 million.
2016 has already marked a year of anniversaries for the company. This June the 250th anniversary
was launched with the acclaimed Defining British Art Evening sale and Loan Exhibition; in March
Christie’s celebrated 10 years of auction business in Dubai with a series of sales across three days
including a specially curated sale, Dubai: Now and Ten; and in May, the 30th anniversary of Christie’s
Hong Kong sale, 30 Years: The Sale, exceeded the high sale estimate, achieving
HK$631,560,000/US$81,712,921.
A Private sale treaty of two masterpieces by Rembrandt van Rijn of Maerten Soolmans and his wife
Oopjen Coppit was secured for the Louvre & the Rijksmuseum.
“There is continued global demand to acquire works of art and Christie’s again leads the art market.” Patricia
Barbizet, Christie’s Chief Executive Officer stated. “Our total focus is on curating sales to meet collector’s
demands while satisfying our sellers by ensuring the highest possible number of bidders on each lot. This is
clearly demonstrated in the solid sell-through rates. We continue to bring to our consignors the broadest
reach of international buyers, which increase season by season. To our buyers, we continue to offer them
the greatest quality of art through our ongoing sales program including the highly successful, carefully
conceived marquee sale weeks. We strive to offer our clients the highest quality works to assist in their
passion for collecting art. At the same time, we continue to enhance our digital platform to reach an ever
increasing audience and to allow greater, easier access for interaction with the world of art we inhabit.”
Sales in America achieved a total of £729.8m for the period ($1.1bn), compared with £1.4bn for the same
period in 2015. Clients from the region acquired 33% of sales. The EMERI region sales totalled £736.5m
($1.1bn) compared with £835.5m and European clients accounted for 39% of sales. Sales in Hong Kong
achieved £256.5m ($369.3m), compared with £287.1m ($444.1m) in the period for H1 2015. Asian buyers
account for 28% of global sales. Auction sales totalled £1.7bn ($2.5bn), Private sales totalled £322.1m
($463.9m). Ecommerce sales totalled £19.4m ($28m).
Auctions this July were led in London by Classic Week and the sale of the Rubens ’ Lot and His Daughters
for £44,882,500, the highest price ever achieved for an Old Master painting sold at Christie’s. In the last 16
months Christie’s has invested in connecting with new customers through a diversified sales calendar,
improved platforms and a solid lower price range offer. These established foundations leave Christie’s well
positioned for the second half of 2016 with the launch of the September First Open sale of Contemporary Art
in New York and online, as well as the landmark auction of the Private Collection of President and Mrs.
Ronald Reagan, which takes place 21-22 September to coincide with Christie’s Americana Week sales
series. Christie’s London will also host two dedicated sales in later in 2016: Brian Sewell: Critic & Collector
on 27 September and Works from the Collection of Leslie Waddington during October Frieze week.
PRESS CONTACTS: Cat Manson (London) +44 207 389 2664 [email protected]
Jennifer Ferguson (New York) +1 212 636 2485 [email protected]
Lavina Chan (Hong Kong) +852 2978 9919 [email protected]
Notes to Editors
*In accordance with standard accountancy practice, Christie’s uses a sales weighted average to account for exchange rate fluctuations. During 2016
please note that all cumulative sales figures are reported in £ and US$, using a sales weighted average (SWA) of 1: 1.440
The prices for individual lots for 2016 are reported as when sold. All auction sales figures include premium .They do not reflect costs or financing fees.
All market share totals are based on publicly available competitor information.
About Christie’s
Christie’s, the world's leading art business, had global auction, private and digital sales in the firs t half of 2016 that totalled £2.1 billion
/ $3 billion. Christie’s is a name and place that speaks of extraordinary art, unparalleled service and expertise, as well as international
glamour. Christie’s offers around 350 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewellery,
photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie's also has a long and successful
history conducting private sales for its clients in all categories, with emphasis on Post-War & Contemporary, Impressionist & Modern,
Old Masters and Jewellery.
2016 marks Christie’s 250 th anniversary. Founded in 1766 by James Christie, Christie's has since conducted the greatest and most
celebrated auctions through the centuries providing a popular showcase for the unique and the beautiful.
Christie’s has a global presence with 54 offices in 32 countries and 12 salerooms around the world including in London, New York,
Paris, Geneva, Milan, Amsterdam, Dubai, Zürich, Hong Kong, Shanghai, and Mumbai. More recently, Christie’s has led the market
with expanded initiatives in growth markets such as Russia, China, India and the United Arab Emirates, with successful sales and
exhibitions in Beijing, Mumbai and Dubai.
*Estimates do not include buyer’s premium. Sales totals are hammer price plus buyer’s premium and do not reflect costs, financing fees or application of buyer’s or seller’s credits.
# # #
Images available on request
FOLLOW CHRISTIE’S ON:
Growth in the price points of £1m-£5m,
driven by 36% growth in new buyers
Christie’s Maintains Global Leadership Position with Sales Totals of £2.1bn in First Half of 2016
Carefully selected curated sales raise sell through rates and
appeal to buyers globally
39%
28% 33%
PRESS CONTACTS:
Cat Manson (London) +44 207 389 2664 [email protected]
Jennifer Ferguson (New York) +1 212 636 2485 [email protected]
Lavina Chan (Hong Kong) +852 2978 9919 [email protected]
July 2016
25% of buyers are new to Christie’s and are
entering across a range of categories
2016 marks Christie’s 250th Anniversary E-Commerce client base continues to grow
Luxury
(21%)
Decorative
Arts
(15%)
Asian
(11%)
20th and 21st
Century
Culture
(18%)
Post War &
Contemporary
(14%)
Impressionist
& Modern
(9%)
Christie’s
South
Kensington
attracted 15%
of new buyers
Buyers
under £100k
up 4%
Buyers
entering at
price points
£1m-£5m up
36%
% of bought value
by region for H1
2016
$100m LIVE and online sales
96% increase in e-commerce sales from
the same period for 2015
60% increase in clients buying through
online only sales
EMERI
£99.5m of sales for
Defining British Art
Evening Sale Asia
Hong Kong 30th anniversary
sale exceeded high estimate
achieving sales of
HKD631.6m
Americas
Curated, cross-category sale
‘Bound to Fail’ led NY
evening sales and achieved
$78.1M
This March, Christie’s celebrated its 10th anniversary inDubai with a series of sales across three days, whichrealised a collective $15,966,840/ AED59,212,557
A specially curated sale, 30 Years: The Sale, was heldin May in Hong Kong, totalling HK$631,560,000/US$81,712,921. The sale was 100% sold with 40% oflots selling above high estimate
2016 marks Christie’s 250th anniversary and wascelebrated with the Defining British Art Evening Saleand Loan Exhibition in London, King Street in June
Anniversaries and Key Events in the First Half of 2016
As part of the 250th Anniversary campaign, Christie’s
London has been working with the artist Adam Dant
as ‘Artist in Residence’.
A Private sale of two
masterpieces by
Rembrandt van Rijn of
Maerten Soolmans and
his wife Oopjen Coppit
was secured for the
Louvre & the
Rijksmuseum
Highlights at Auction: January – June 2016
Omar El-Nagdi
Sarajevo
$1,145,000/AED4,162,075WORLD AUCTION RECORD FOR
THE ARTIST
March – Dubai: Now and Ten
Tony O’Malley (recto) and Francis
Bacon (verso)
Currach, Clare Island (recto), Evening
Landscape Tehidy Hospital (verso)
£434,500/$620,901
March – London, South Kensington:
Modern British & Irish Art
Jean-Michel Basquiat
Untitled
$57,285,000/£39,726,075WORLD AUCTION RECORD FOR
THE ARTIST
May – New York: Post-War and
Contemporary Art
The Oppenheimer Blue
CHF56,837,000/$57,541,779WORLD AUCTION RECORD FOR A
JEWEL
May – Geneva: Magnificent
Jewels
William Shakespeare
Shakespeare’s First Folio:
Comedies, Histories & Tragedies
£1,874,500/$2,746,143
May – London, King Street:
Shakespeare: The First Four Folios
A magnificent very rare large blue
and white ‘Dragon’ Jar
HK$158,040,000/US$20,447,642
May – Hong Kong:
30 Year: The Sale
Henry Moore
Reclining Figure: Festival
£24,722,500/$33,103,428WORLD AUCTION RECORD FOR
THE ARTIST
June – London, King Street:
Defining British Art
Jean de Cambrai
Two marble Mourners from the
Tomb of Jean de France
€5,025,000/$5,652,190
June – Paris: Sculpture et
Objets d’Art Européens
Alighiero Boetti
Mappa
€1,387,200/£1,110,648
April – Milan: Modern and
Contemporary
Frida Kahlo
Dos desnudos en el bosque (La tierra
misma)
$8,005,000/£5,551,318WORLD AUCTION RECORD FOR THE ARTIST
May – New York: Impressionist & Modern
Art
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Christie’s
© The Estate of Jean-Michel Basquiat / ADAGP, Paris /
ARS, New York 2016
© 2016 Artists Rights Society (ARS), New
York / SIAE, Rome
© 2
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Rig
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Socie
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), New
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© Susan Young
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