Art Investment

Published report Christie's for the first half of 2011

The first half of the year for the auction house was very successful, with sales up by 15%, not least thanks to Andy Warhol and the growth of the Asian market

Sales auction house Christie's for the first half of 2011 rose 15%. Important role in this growth have played a sale of contemporary art, which were sold by such artists such as Andy Warhol.

also contributed to the success of Britain's growing number of private transactions, the growing demand in Asian markets and 30 per cent increase in the number of successfully sold lots. Representatives of Christie's yesterday announced the statistics, from which it follows that the past six months has become the most profitable in pounds sterling for the company's history: the total sales of art and antiquities was 2 billion pounds ($ 3.2 billion). The previous record for Christie's first six months of 2008 stood at 1.8 billion pounds.

«Sales rose in several sectors - said in an interview with Bloomberg executive director of Christie's, Stephen Murphy (Steven P. Murphy) . In demand lots cost from 500 thousand pounds to a million, and sales of lots at auction on average exceeded 90%. - Quite a small percentage of our clients consider a work of art only as an investment, but in general we are seeing a surge of interest in art in general ».

Portrait of Andy Warhol, who went under the hammer for 38.4 million dollars ., Christie's became the main work of this semester. According to a press release auction house eight of the ten most expensive works sold at public auction in the first half, passed through Christie's. And all of those lots went under the hammer is more expensive $ 20 million. A 376 lots were sold more million dollars.

In general, in the first half of this year, the contemporary art auction house brought 431.1 million pounds, up 40%over the same period 2010. This amount exceeds revenue in 2008, but still falls short of the half-year 2007 results.

«Contemporary art market came to life again, - shared Murphy. - And this is true for a broad range of authors. "Similarly, in practice, a statement Murphy disputed widespread view that the auction houses rely too much on post-war artists. Thus, the work of Andy Warhol brought more than $ 90 million up to the evening of the New York auction in May.

sales of paintings and drawings of British modernists grew by 257%, while sales of lottery graphs of the same Artist - by 73%. The London auctions have become the most profitable: its turnover amounted to 607.7 million pounds.

volume of private transactions increased by 57%and amounted to 286.7 million pounds. 24%more lots were sold over the Internet.

maximum price auction does not exceed the mark of $ 40 million. Sale of Impressionist and Modern have fallen by 30%. Revenue in the U.S. declined by 13%due to the small number of works put up for auction. For comparison - in the first half of 2010 at the auction were works of exceptional quality: it was in May last year work Picasso from the collection of Los Angeles-based activist Frances Brody at auction in New York went for 106.5 million dollars , heading the list of the most expensive works of art in the world.

Sales in Hong Kong increased by 48%to 296 million pounds, securing the title of Asia's third-largest trading account art sites in the world. Sales of Asian art in the world brought to Christie's 356,7 million pounds: thus, the growth in this segment was 45%.

Residents of Asia - are very active buyers: July 5, at auction in London client in Asia has acquired Michelangelo drawing in 3.2 million pounds. Chinese buyers accounted for the majority of the international wine auction, which increased profits by 107%to $ 28.7 million lbs. In the list of preferences of Chinese collectors are also included furniture and Old Master paintings.

Customers from Russia and the CIS according to Christie's release in the first half of 2011 have become more active buying of Impressionist and Modern, decorative and applied arts of the twentieth century, as well as postwar and contemporary art.

company now Christie's, headquartered in London, owned by French billionaire Francois Pinault. Holding Pinot Artemis SA bought at Christie's in May 2008 for $ 1.2 billion.

57-year-old Stephen Murphy, a former president and CEO of the American publishing house, Rodale, Inc., was appointed executive director of Christie's in September 2010 instead of Edward Dolman, who became president of the company . Dolman recently joined the board of trustees of the Office of Museum of Qatar and led the office of Shaykh al-Mayassy , which resumed rumors of the presence in Qatar interest in acquiring 245-year-old auction house.

Murphy notes that in the future the company intends to focus more on development of smaller departments, as well as the Asian market. Auction house Christie's will not disclose information about their income or profit, and publishes only the figure of the gross turnover of twice a year. His main rival Sotheby's (BID) will publish the results of the first half in early August.

material prepared
Estrova Maria and Maria Onuchina < /em> AI

Source : bloomberg.com , artinvestment.ru


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