CHRISTIE’S ANNUAL GLOBAL ART SALES TOTAL £2.51 BILLION ($4.67 BILLION), THE HIGHEST RESULTS IN ART MARKET HISTORY, MAKING CHRISTIE’S THE WORLD’S LEADING ART BUSINESS
• Private sales total more than £137 million ($256 million)• 525 works of art sold for over $1 million
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London/New York – Christie’s International, the world’s leading art business, today announced 2006 art sales totals of £2.51 billion ($4.67 billion), a 36% increase over 2005 sales that was achieved through more than 600 sales in sixteen saleroom locations around the world. Sales totals include auction premiums. This figure also includes private sales of more than £137 million ($256 million) brokered by Christie’s in 2006. A total of 525 works of art sold at auction for over $1 million at Christie’s in 2006.
“2006 was a phenomenal year for Christie’s in terms of sales, profitability and the works that were entrusted to us,” said Edward Dolman, Chief Executive Officer, Christie’s International. “As we anticipate the structural and cyclical changes in the art world, driven by changing tastes and new clients, our aim is to remain the world’s leading art business through efficient, innovative and compelling sales that dazzle collectors the world over. We will continue making the necessary investments in emerging markets such as Dubai, Russia and China, as well as in other aspects of our business, including private sales, Christie’s LIVE, Christie’s Education and Christie’s Great Estates. As we do this, our foundation will remain Christie’s unparalleled specialist expertise.”
2006 Select Departmental and Geographic Highlights:
• Impressionist & Modern Art department had sales of approximately £664 million / $1.23 billion – up 80.9% over 2005.
• Post-War and Contemporary Art department had sales of approximately £442 million / $822 million – up 46.8% over 2005.
• Old Master Pictures sales totalled approximately £137 million / $256 million – up 23.4% over 2005.
• Jewellery and Watches had sales of approximately £219 million/ $408 million – up 21.5% over 2005.
• Christie’s Asian Art department had sales of approximately £235 million / $438 million – up 11.9% over 2005.
• New York had sales of approximately £1.13 billion / $2.11 billion – up 49.5% over 2005.
• London had sales of approximately £742 million / $1.38 billion – up 23.9% over 2005.
• Hong Kong set a new milestone for auction history in Asia achieving a sales total of over HK$2.8 billion/ US$355 million – up 24.7% over 2005.
• France had sales of £134 million / $248.9 million – up 77% over 2005. Leading the year was the Claude et Simone Dray Collection in June which totalled £41.3 million/ $76.3 million.
• Christie’s inaugural Dubai on May 24 generated £4.7 million / $8.5 million with interest from around the Gulf Region and Sub-Continent. Based on this success Christie’s expanded its sale schedule and will hold its first ever sale of Jewellery & Watches in Dubai on 31 January 2007 followed by our second sale of International Modern & Contemporary Art on 1 February 2007.
• In Russia, Christie’s sponsored the Hermitage Museum Conference and increased its tours and general outreach to the country. Total sales of Russian Art in 2006 achieved £37.9 million / $70.5 million.
• Christie’s Indian representation in Mumbai connects one of the most dynamic emerging markets with Christie’s activities. Sales of Modern and Contemporary Indian Art have grown from £331,490 / $600,000 in 2000 to a worldwide total for the category for 2006 of £23 million / $42.2 million.
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