We always want to keep you up to date on important news and the latest developments at our parent company, Christie’s, the world’s leading art business. Yesterday, Christie’s announced its full-year results for 2013, one of the best years in the company’s 248-year history. Below is a summary of the 2013 results; if you would like to read the full report, please click here.
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Christie’s announced sales of £4.54 billion ($7.13 billion), up 16% for the year ending December 2013. This figure is the highest sales total for Christie’s or any auction house in the history of the art market. Christie’s sales figures were driven by an increase in new buyers across all geographies coming to the market, including from growth markets such as China and through the Internet. Thirty percent of buyers were new in 2013 and accounted for 22% of the sales total.
Strong results were recorded in all regional sites during 2013, with significant activity in Asia driven by strong Hong Kong sales, up 32% and the company’s historic expansion into mainland China THROUGH its Shanghai OFFICE. The growth in new clients from China and the potential of this area of the art market was reflected in the firm’s highly successful inaugural Shanghai sale, which totaled £15.5 million ($24.9 million). Sales in Europe totaled £1.33 billion ($2.1 billion), Americas totaled £1.8 billion ($2.8 billion) and Asia totaled £622.6 million ($977.5 million). The increasing power of the Chinese buyer in the global art market was also evident with Chinese buyers accounting for 22% of global sales, a 63% increase on spend during 2012. Christie’s also expanded into India in 2013 and held its first sale in Mumbai in December, which realized £9.4 million ($15.4 million), more than doubling pre-sale expectations and attracted new buyers, including 35% who had never done business with Christie’s.
Steven P. Murphy, Chief Executive Officer, Christie’s, said: “With 16% sales growth and 30% new buyers coming in 2013, Christie’s has succeeded again by focusing on the art and connecting it to the ever-increasing audience of enthusiasts and collectors. We continue to see a surge in interest across categories and across the globe, fuelled in large part by the online platform enabling greater connectivity between buyers, sellers and the objects of their pursuit. Our strategy to invest in new markets such as China, new channels such as Private Sales and online sales, and to build on our position at the leading auction house, has enabled Christie’s to grow. Our continuing goal is to provide more to our clients and to convene new clients to enjoy art, be it through auctions, exhibitions or online.”