In 2010, the auction house has sold works of art at 4,8 billion dollars. Net profit amounted to 161 million - the highest figure since 2007

Last week, auction house Sotheby's released its earnings for the fourth quarter of 2010 and for the entire year. October, November and December brought the company 318 million dollars (46 per cent increase compared to the same period last year), and the revenue amounted to 774.3 million (an increase of 60 per cent). Net profit reached 161 million dollars - the best result since 2007 (the peak of the boom in the art market). The total value of items sold at Sotheby's in 2010 amounted to 4,8 billion dollars.

company boasts such figures is mainly due to increased commission payments of buyers, which is a direct consequence of the jump in demand . Head of Sotheby's William Ruprecht (William Ruprecht) highlighted the increased activity of customers with so-called "new markets" (the same notes and Christie's, whose sales in 2010 reached a record 5.2 billion dollars).

The number of lots, stepped on the Sotheby's mark of 1 million dollars, increased in 2010 to 105 per cent. It is worth noting that as prices drop Buyer's Premium - that is, to pay for the work of seven-figure sum paid by the auction house is not 20 percent of its value, and 12. Because of this marginality fell last year for more than two per cent (was 20.4 percent, was 18,3).

Beginning in 2011 at Sotheby's also dawned shock. Among the outstanding results - 16,9 million for a painting by Titian , 40,7 million for the work of Picasso and 23 million pounds for the creation of Salvador Dalí (among other things, the world record in the segment of" Art of Surrealism ») .

material was prepared by Julia Maksimova AI

Source: artinfo.com , artinvestment.ru