Interesting to note is that out of the overall sales total, £4.7bn was from auction sales, and £491m was in private sales. £65m was from online sales only. Regionally the US remains the most important market for Christie’s at 39% of sales volume, and that figure was up 12% over the previous year.
Even if Christie’s doesn’t expect 2019 to exceed these sales figures, it is still battling to land more big estates / collections. Recently, Christie’s announced it would be selling George Michael’s collection in London next month (March 2019).
Private sales is an interesting point. In 2018, private sales accounted for 10% of the overall sales volume but a decade ago this was closer to 15-20%. Why? Third party guarantees. Clients have become accustomed to the win-win benefit of third-party guarantees. But the auction house will try to get more private sales. That is good for the art advisory and brokerage business.
McCaslin Art Advisory has good links with the auction houses to buy and sell privately. Don’t hesitate to contact us about this service and to enquire further.