CHRISTIE’S announced worldwide sales of £1.71 billion for the first six months of 2010, up 46% on last year’s figure of £1.2 billion for the same period. Figures include the buyer’s premium. Edward Dolman, ceo at Christie’s said: “Global confidence in the art market has been evident throughout the first half of 2010 and we expect it to continue with our autumn sales. The power of great art sourced from notable collections has driven sales”.
“In 2009, the challenge of supply contrasted with buyer demand leading to consistent, high sold rates. In 2010 this has led to increased vendor confidence and at the higher end of the marketplace we have seen a number of key sales setting new price levels”.
The results reflect the growing importance of Asia, where a significant return on investment is seen. The investment in technology has led to increased involvement from global clients.
“We continue to see strength and depth in both vendor confidence and buyer activity despite the broader economic context” the ceo added. “After one of the most successful half years in our history, we approach the second half with cautious but optimistic expectations of continued art market strength.”