PICASSO – Fillette à la corbeille fleurie from the Rockefeller collection sold for $115 million.
Christie’s continues to lead the art market this year. Continued global demand helped drive a 26% rise in overall sales to almost £3 billion in the first half of the year. Auction sell through rates across all bands rose to 84%. Auction sales increased by 20% to £2.65 billion, private sales were up 135% to £287 million and online only auction sales rose 40% to £27.7 million.
There were 55 lots sold for over $10 million and online sales attracted the largest number of new buyers. The Luxury group continues to draw the highest percentage of new clients at 29% and Asian clients spent 10% more in this category in 2018. Decorative arts was the second highest entry point for new clients at 19%.
Collections achieved strong results across the board: the celebration of the Cobra movement was 100% sold at the new venue in Amsterdam; masterpieces by Richard Diebenkorn were sold to benefit the Zucker family foundation for $46 million in New York and the Tisch collection sold for £107 million.
American clients accounted for 45% of spend in the first half of 2018, Asian clients for 24% and EMERI clients for 31%. The collection of Peggy and David Rockefeller achieved the highest total for a private collection and was 100% sold. At $835,111,344 this was the most significant charitable auction ever.
Christie’s say the outlook for the rest of the year is good.