AS this strange, unsettling year draws to a close auction houses are looking back with relief and forward with optimism. Twelve months ago when 2020 dawned there was little inkling of the pandemic that has since engulfed the globe causing at least 1.8 million deaths and 82 million cases so far. In the art and antiques market online sales and private sales did much to alleviate the pressure caused by the lack of live sales nationally and internationally. Preliminary figures from Christie’s suggest that sales were down 25% to $4.4 billion. Demand remained strong and online sales (up 262% in 2020) and digital innovation are seen as major drivers of future growth. Private sales achieved a record total projected at $1.3 billion. No less than 36% of all buyers were new to Christie’s and 32% of new online only buyers were millennials (23-38 years old).
CEO Guillaume Cerutti commented: “In 2020, the global pandemic deeply impacted the art market, as it did for almost all industries. We are now looking forward to 2021 with optimism, for two major reasons: global demand for art and objects remains strong with an impressive influx of new clients, especially millennials; and Christie’s has introduced digital innovations that significantly strengthened our business model, providing clients with greater flexibility to transact with us through our live auction, online-only, and private sales platforms.”
In Ireland lockdowns caused four months of closure in 2020 and a new lockdown for the month of January 2021 has just been announced. At James Adam they reckon that business overall was about two thirds of what would normally have occurred in sectors like Irish Art and jewellery. The level of sales, 16 in categories like vintage wine and spirits, period and mid century furniture, jewellery, watches, art and decorative arts and the Country House Collections sale at Townley Hall, helped to make up some of the shortfall. James O’Halloran reports that sell through rates at Adams were higher in every category with some auctions recording 90% plus. There is a readiness to drive on from this in 2021.
