Arcadja

CHRISTIE’S INTERNATIONAL REAPS $3.8 BILLION IN 2008 SO FAR

Written by arcadja July 25 2008

Category :Flashnews
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In the first 6 months of 2008 alone, Christie’s International has achieved a sales figure of $3.8 billion (£1.8 billion). The figure represents 10% growth in their worldwide sales compared to the first half of 2007 and 63% year on year sales growth in Asia. The total includes private sales of $301 million (£153 million) brokered by Christie’s so far this year as well as sales by its subsidiary gallery, Haunch of Venison.
Across the world during this period, Christie’s salesrooms have seen 457 works leave for more than $1 million, which compares favorably with the 430 sold in the first six months of last year.
Sales from the post-war and contemporary art department registered as Christie’s second most successful niche, bringing in $800 million (£408 million) between January and June this year. The figure registered just behind impressionist and modern art sales, which achieved $974 million (£497 million).
Chief executive officer of Christie’s International, Edward Dolman, commented, “Christie’s robust results for the first half of 2008 reflect the ongoing strength of the international art market […] Christie’s ability to source the rarest, most beautiful and impressive works of art in all categories underpins our continued art market leadership and success. Collectors across the globe have remained active and confident, despite more uncertain economic conditions in some regions. Christie’s extensive international network has introduced an increasing number of buyers to the international art market from growth markets including Russia and the CIS states, the Middle East, and China.”

The breakdown reads as follows:

Europe with UK: £837 million/$1.6 billion
King Street, London: £643 million/$1.3 billion
South Kensington: £41 million/$80 million
Paris: £68 million/$132 million
United States: £631 million/$1.2 billion
Asia with Middle East: £179 million/$351 million
Dubai: £20 million/$39 million


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