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News
$3,5 BILLION FOR CHRISTIE'S DURING FIRST HALF OF 2008
17 July 2008
Catégorie : MARKET
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- Global Art Market Remains Confident in All Regions
with 10% Growth in Worldwide Sales Compared with First Half of 2007
- 63% increase on Year Sales Growth in Asia
- Impressionist and Modern Art Sale in London reached
Highest Ever Sales Total for an Art Auction Held in Europe Realising £144
million ($284 million/ €182 million)
- Record Sales Results in Key Categories including
Impressionist and Modern; Post-War and Contemporary Art; Jewellery &
Watches; Asian, Indian and Arab Art
- 4 of Top 5 Works of Art Sold at Auction in First
Half of Year at Christie's
- Strong Growth in Privately Negotiated Sales
through Christie's and through Subsidiary, Haunch of Venison
- Positive Outlook for Global Art Market with Many
Exciting Works of Art Consigned for Sale in Second Half
London/New York/Hong Kong –
Christie's International, the world's leading art business, announced today
worldwide sales of £1.8 billion ($3.5 billion) for the first six months of 2008,
an increase of 10% by £ on last year's
figure of £1.6 billion ($3.2 billion) for the same period. (Figures include buyer's premium.)
In Christie's
salesrooms around the world, 457 works of art sold for more than $1 million,
compared to 430 sold during the same period last year. Sales totals include private sales of £153
million/$301 million brokered by Christie's in the first half of 2008 as well
as sales conducted by the wholly owned subsidiary, Haunch of Venison.
“Christie's robust results for the first
half of 2008 reflect the ongoing strength of the international art market,” said Edward Dolman, Chief Executive Officer, Christie's
International. “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, India and
China.”
“As the world's leading art business,
Christie's continues to innovate in new geographies, sales formats and range of
services offered to clients. We
continue to develop our business activities in both established and new growth
markets and Christie's dominates some of the more diverse sectors of the middle
market, particularly through our Interiors sale formats.”
For the first half of 2008, Europe & UK auction
sales totalled £837 million ($1.6 billion), up 6% from the same period last
year; the Americas totalled £631 million ($1.2 billion), down 1% from the same
period in 2007; and Asia & Middle East totalled £179 million ($351 million),
up 81% from the same period last year.
The breakdown of sales is as follows:
·
Europe with UK £837
million/$1.6 billion
·
King Street £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
Top
International Department Totals for January – June 2008
Auction department sales were up overall by
8% over the same period in 2007. Key auction department increases for the first
half include the Asian Art categories (up 63%); Jewellery and Watches (up 34%);
Impressionist & Modern Art (up 14%); the European Furniture categories
(including Clocks, Sculpture, Rugs and Carpets) (up 47%); Latin American Art
(up 21%) and American Paintings (up 33%).
A breakdown of key categories is as follows:
·
Impressionist & Modern Art £497 million/$974 million
·
Post-War & Contemporary Art £408 million/$800 million
·
Asian Art £239
million/$469 million
·
Jewellery, Jadeite, Watches £140
million/$275 million
·
European Furniture £71
million/$139 million
·
Old Masters (Paintings & Drawings) £52 million/$101 million
·
American Paintings £41
milllion/$81 million
·
British & Irish Art £32
million/$64 million
·
Russian Paintings & Works of Art £20 million/$40 million
·
Books & Manuscripts £19
million/$38 million
·
Latin American £18
million/$35 million
·
20th Century Decorative Arts £18 million/$35 million
·
Prints £16
million/$32 million
Top Ten Works of Art Sold
at Christie's Worldwide for January – June 2008 Claude Monet
(1840-1926), Le bassin aux nymphéas, 1919 $80,451,178 £40,921,251
Francis Bacon (1909-1992), Triptych 1974-1977, 1977 $51,680,061
£26,340,500
Mark Rothko (1903-1970), NO. 15, 1952 $50,441,000
£25,867,179
Claude Monet (1840-1926), Le Pont du chemin de fer à Argenteuil,
1873 $41,481,000
£21,056,345
Francis Bacon (1909-1992), Three Studies for Self Portrait, 1976 $34,457,475
£17,289,250
Lucian
Freud (b. 1922), Benefits Supervisor Sleeping, 1995 $33,641,000
£17,251,795
Andy
Warhol (1928-1987), Double Marlon, 1966 $32,521,000
£16,677,436
Francis
Bacon (1909-1992), Three Studies for Self Portrait, 1976 $28,041,000
£14,380,000
Alberto Giacometti (1901-1966), Grande femme debout II, 1960 $27,481,000
£13,949,746
Edgar Degas (1834-1917), Danseuses à la barre, 1880 $26,504,138
£13,481,250
UK,
Europe including Russia and CIS States
For the first half of 2008,
Europe & UK auction sales realised £837 million ($1.6 billion), up 6% from
the same period last year.
In February 2008 at King Street, London,
Impressionist and Modern Art and Post-War and Contemporary Art auctions
realised £224 million ($440 million/€298 million). The corresponding series of sales in June saw five works sold for
over £10 million, and at the Impressionist and Modern Art Evening Sale, which
realised £144 million ($284 million/ €182 million) - the highest ever total for
an art auction held in Europe - Le bassin aux nymphéas by Claude Monet
sold for £41 million / $80.5 million / €51.7 million, a world record price for
the artist at auction and now the new highest price for a work of art sold by
Christie's in Europe. The Post-War
and Contemporary Art Evening Sale on 30 June realised £86.2 million /
$171.9 million / €108.6 million, the highest total for the category at Christie's in Europe, as Three
Studies for a Self Portrait by Francis Bacon (1909-1992) realised £17.3
million / $34.5 million/ €21.8 million, and Balloon
Flower (Magenta), 1995-2000 by Jeff Koons (b.1955) sold for £12.9 million /
$25.8 million / €16.3 million - a world record price for
the artist at auction. Additional London highlights in the
first half of 2008 included the June sale of Magnificent Jewels, including
Jewels from the Collection of Christina Onassis that realised £15 million
/ $29.4 million/ €18.9 million - the highest total for any jewellery
auction held in the UK. The
private Collection of Simon Sainsbury, one of Britain's most generous
philanthropists was sold for a total of £27.1 million / $53 million/ €34
million. Proceeds benefited The
Monument Trust. The Kenure Cabinet
by Thomas Chippendale realised £2.7 million / $5.3 million/€3.4 million in June - a record price for any piece of
British furniture. At the same
auction, three other works surpassed the previous record price for a piece
of British furniture, and 10 lots realise a total of £10.3 million / $20.2
million / €13 million.
The refurbished South Kensington salerooms saw over 120,000
visitors in the first six months of the year. The dual strategy of a
regular programme of single category specialist sales interwoven with the
recently launched weekly Interiors sales have proved highly appealing and
successful for all clients, in both buying and selling capacities at all
price levels. Sales for the site totalled £40 million/$80 million and in
June, the auction of South Asian Modern + Contemporary Art realized
£5.4 million /$10.6 million/€6.8 million, the highest total for the
category in London. The auction
saw 12 artist records broken with Francis Newton Souza's Birth,
1955 selling for £1.3 million/ US$2.54 million/ €1.6 million setting a
record price for an Indian modern and contemporary work of art sold at
auction, and becoming the most expensive lot ever sold at Christie's South
Kensington.
Christie's in France established 28 world
auction records in the first half of 2008 in sales that realized €85.9
million/£67 million/$132 million, with 13 works of art selling for over €1
million. Highlights included the
Collection of Charles Gillot in March which totaled €17.9 million/£13.7
million/US$27.3 million, becoming the 2nd highest collection
sold at Christie's in Paris. A new
world record was also established for any Islamic inlaid metalwork, and a
world auction record for a living, female artist was set when Louise
Bourgeois' Spider, 2003, sold for €2.9 million/£2.3 million/US$4.5
million.
Christie's celebrated 40 years in Switzerland
with strong results in the first half of 2008. The sales in Geneva and Zurich totaled £46 million/$89
million, with the Geneva sales up 70% on the same sales in 2007 led by a
particularly strong jewellery sale that realized SFr.59.2 million/US$57
million/€36.8 million.
The week of sales in Milan, Italy held in
May totaled €18.8 million/£14 million/US$18 million, up 28% on the same
period in 2007 demonstrating the continued strength and stability of the high
end Italian market.
Christie's Amsterdam, Holland established
68% market share in the region in a season that totaled £23 million/$45
million led by a sale of works from the Liechtenstein Collection that
totaled €5.3 million/£4.3 million/$8.3 million. A pair of Bleau globes sold for €794,000/£630,000/ $1.2 million, the most valuable art
objects ever sold in Holland.
Christie's continued commitment to Russia and the CIS States
was signaled by a superb exhibition of Pre-Raphaelite
masters and Russian works of art at the State Tretyakov
Gallery in Moscow in May and an exhibition of Old Masters and
Impressionist and Modern art works at the Marble Palace in St Petersburg
in June. Christie's Russian sale totaled £11.3 million/$22 million/€ 14.2 million in June and a new
world record price for a work by a female artist, and a record price
for an artist at auction was established in the June Impressionist
and Modern Sale when Natalia Goncharova's Les Fleurs sold for £5.5 million/ $10.9 million/ €7 million.
Americas
Sales in the
Americas totaled £631 million ($1.2 billion).
Christie's
led Americana week in January with a series of extremely significant collections totaling $18,147,963. Among
the highlights was The Stevenson Family Chippendale Mahogany Scalloped-Top
Tea Table, which achieved $5.4 million.
A Asia Week in March realized $80.1 million,
the highest total ever for Asian Art sales in New York. Christie's claimed
63% market-share for the week, and broke numerous records, including the Dainichi
Nyorai Buddha, which sold for $14.4 million and broke the world
auction record for Japanese art.
In In April, Christie's Jewels: The New
York Sale totaled $49.9 million/ $25 million, making it the most
valuable jewellery auction ever held in the Americas. The Antonio Stradivari violin, ‘The Penny'
sold in New York to an online bidder for $1,273,000, making it the
most expensive lot ever sold to a Christie's LIVE user based in
Europe. Christie's led New York Photography week with record breaking sales,
totaling $17.6 million, the highest total in auction history for the
category.
Christie's achieved an exceptional $739.5 million
for its May 2008 Impressionist & Modern and Post-War &
Contemporary Art Sales, during which 30 new world records were established
and 18 lots were sold for over $10 million. Highlights included Claude
Monet's Le Pont du chemin de fer à Argenteuil, which sold for $41.5
million/£21 million and set a new world auction record for the artist, and
Lucian Freud's Benefits Supervisor Sleeping, which fetched $33.6
million/ £17.3 million and set a world auction record for any living
artist. Also triumphant was the
Important American Paintings, Drawings and Sculpture sale, which saw
the highest total ever for American Western Art at auction, and included
Thomas Moran's $17.7 million/ £9 million Green River of Wyoming,
which doubled the previous auction record for a 19th century American
painting. Christie's concluded its
May sales with a landmark Latin American Sale, which realized a new
world auction record for Latin American Art with Rufino Tamayo's Trovador
at $7.2 million/ £3.6 million, and set the highest total ever for the
category at $26.6 million/ £13.5 million.
Middle East
Christie's fourth
Dubai sale series totalled AED147.3 million/$40 million.
Four works sold for over $1
million, and 71 new artists records were established including for Parviz
Tanavoli's The Wall (Oh Persepolis) which sold for AED10.4
million/$2.8 million, the most expensive work of art ever sold at auction
in the Middle East and establishing a new world record for any Iranian
artist at auction. A superb
natural pearl and diamond necklace sold for AED6.4 million/$1.7 million.
The Christie's/YouGov Siraj
Survey, released in March, polled over 100,000 GCC residents and
demonstrated that 40% of participants anticipate their spend on art will
increase over the next five years.
Asia
The Hong Kong Spring 2008 Spring
sales totalled HK$2.4 billion/$310.7 million/ £156.9 million, a 63% increase
over the same series in 2007 and marking the highest total ever achieved in an
art sales season in Asia with Christie's taking 58.5% market share in the
region. An increasingly international
and diverse range of buyers reflect the glowing global interest in Asian art
and an expanding base of Asian collectors.
Chinese Ceramics & Works of Art totalled HK$734.7
million/US$94.4 million/£47.5 million, the highest total ever in this
category at Christie's. In
particular, a special collection of magnificent clocks for the Chinese
Imperial Court from the Nezu Museum achieved a total of HK281 million /
US$36 million/£18.2 million, making it the most valuable horological
auction ever held.
The inaugural evening sale in the region of Asian Contemporary
and Chinese 20th Century art realised HK$813.8 million/US$14.6
million/£30.3 million, a 33% increase over Spring 2007. Artist records
were established including for 38 Japanese artists, 10 Indian artists, 8 Chinese
artists and 11 Korean artists.
Continued strong performance was seen in the Southeast Asia art
sale that totalled HK$72 million/US$9.3 million/ £4.7 million, a 39%
increase from Spring 2007. The
Chinese and Modern Paintings and Classical Calligraphy and Paintings sales
totalled HK$241.2 million / US$31 million/ £15.5 million, a 20% increase
in sale total over the same period last year.
A record price for any watch sold in Asia was established in
another strong Watch sale when the possibly unique Patek Philippe Ref:
2499 sold for HK£10.4 million/ US$1.3 million/£673,000.
Jewels: The Hong Kong
Sale went exceptionally well and totalled HK$468.8 million/US$60.1 million/
£30.4 million becoming the most valuable jewellery sale ever organised by
Christie's globally, led by the largest diamond ever sold in Asia, a
101.27 ct F, VVS1 diamond sold for HK$48.5 million/US$6.2 million/£3.1
million.
Looking Ahead
“As worldwide sales values continue to
remain steady, Christie's approaches the second half of the year in the
continued belief that the global art market overall will remain strong and
steady,” said Edward Dolman, Chief Executive Officer.
·
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|
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- Global Art Market Remains Confident in All Regions
with 10% Growth in Worldwide Sales Compared with First Half of 2007
- 63% increase on Year Sales Growth in Asia
- Impressionist and Modern Art Sale in London reached
Highest Ever Sales Total for an Art Auction Held in Europe Realising £144
million ($284 million/ €182 million)
- Record Sales Results in Key Categories including
Impressionist and Modern; Post-War and Contemporary Art; Jewellery &
Watches; Asian, Indian and Arab Art
- 4 of Top 5 Works of Art Sold at Auction in First
Half of Year at Christie's
- Strong Growth in Privately Negotiated Sales
through Christie's and through Subsidiary, Haunch of Venison
- Positive Outlook for Global Art Market with Many
Exciting Works of Art Consigned for Sale in Second Half
London/New York/Hong Kong –
Christie's International, the world's leading art business, announced today
worldwide sales of £1.8 billion ($3.5 billion) for the first six months of 2008,
an increase of 10% by £ on last year's
figure of £1.6 billion ($3.2 billion) for the same period. (Figures include buyer's premium.)
In Christie's
salesrooms around the world, 457 works of art sold for more than $1 million,
compared to 430 sold during the same period last year. Sales totals include private sales of £153
million/$301 million brokered by Christie's in the first half of 2008 as well
as sales conducted by the wholly owned subsidiary, Haunch of Venison.
“Christie's robust results for the first
half of 2008 reflect the ongoing strength of the international art market,” said Edward Dolman, Chief Executive Officer, Christie's
International. “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, India and
China.”
“As the world's leading art business,
Christie's continues to innovate in new geographies, sales formats and range of
services offered to clients. We
continue to develop our business activities in both established and new growth
markets and Christie's dominates some of the more diverse sectors of the middle
market, particularly through our Interiors sale formats.”
For the first half of 2008, Europe & UK auction
sales totalled £837 million ($1.6 billion), up 6% from the same period last
year; the Americas totalled £631 million ($1.2 billion), down 1% from the same
period in 2007; and Asia & Middle East totalled £179 million ($351 million),
up 81% from the same period last year.
The breakdown of sales is as follows:
·
Europe with UK £837
million/$1.6 billion
·
King Street £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
Top
International Department Totals for January – June 2008
Auction department sales were up overall by
8% over the same period in 2007. Key auction department increases for the first
half include the Asian Art categories (up 63%); Jewellery and Watches (up 34%);
Impressionist & Modern Art (up 14%); the European Furniture categories
(including Clocks, Sculpture, Rugs and Carpets) (up 47%); Latin American Art
(up 21%) and American Paintings (up 33%).
A breakdown of key categories is as follows:
·
Impressionist & Modern Art £497 million/$974 million
·
Post-War & Contemporary Art £408 million/$800 million
·
Asian Art £239
million/$469 million
·
Jewellery, Jadeite, Watches £140
million/$275 million
·
European Furniture £71
million/$139 million
·
Old Masters (Paintings & Drawings) £52 million/$101 million
·
American Paintings £41
milllion/$81 million
·
British & Irish Art £32
million/$64 million
·
Russian Paintings & Works of Art £20 million/$40 million
·
Books & Manuscripts £19
million/$38 million
·
Latin American £18
million/$35 million
·
20th Century Decorative Arts £18 million/$35 million
·
Prints £16
million/$32 million
Top Ten Works of Art Sold
at Christie's Worldwide for January – June 2008 Claude Monet
(1840-1926), Le bassin aux nymphéas, 1919 $80,451,178 £40,921,251
Francis Bacon (1909-1992), Triptych 1974-1977, 1977 $51,680,061
£26,340,500
Mark Rothko (1903-1970), NO. 15, 1952 $50,441,000
£25,867,179
Claude Monet (1840-1926), Le Pont du chemin de fer à Argenteuil,
1873 $41,481,000
£21,056,345
Francis Bacon (1909-1992), Three Studies for Self Portrait, 1976 $34,457,475
£17,289,250
Lucian
Freud (b. 1922), Benefits Supervisor Sleeping, 1995 $33,641,000
£17,251,795
Andy
Warhol (1928-1987), Double Marlon, 1966 $32,521,000
£16,677,436
Francis
Bacon (1909-1992), Three Studies for Self Portrait, 1976 $28,041,000
£14,380,000
Alberto Giacometti (1901-1966), Grande femme debout II, 1960 $27,481,000
£13,949,746
Edgar Degas (1834-1917), Danseuses à la barre, 1880 $26,504,138
£13,481,250
UK,
Europe including Russia and CIS States
For the first half of 2008,
Europe & UK auction sales realised £837 million ($1.6 billion), up 6% from
the same period last year.
In February 2008 at King Street, London,
Impressionist and Modern Art and Post-War and Contemporary Art auctions
realised £224 million ($440 million/€298 million). The corresponding series of sales in June saw five works sold for
over £10 million, and at the Impressionist and Modern Art Evening Sale, which
realised £144 million ($284 million/ €182 million) - the highest ever total for
an art auction held in Europe - Le bassin aux nymphéas by Claude Monet
sold for £41 million / $80.5 million / €51.7 million, a world record price for
the artist at auction and now the new highest price for a work of art sold by
Christie's in Europe. The Post-War
and Contemporary Art Evening Sale on 30 June realised £86.2 million /
$171.9 million / €108.6 million, the highest total for the category at Christie's in Europe, as Three
Studies for a Self Portrait by Francis Bacon (1909-1992) realised £17.3
million / $34.5 million/ €21.8 million, and Balloon
Flower (Magenta), 1995-2000 by Jeff Koons (b.1955) sold for £12.9 million /
$25.8 million / €16.3 million - a world record price for
the artist at auction. Additional London highlights in the
first half of 2008 included the June sale of Magnificent Jewels, including
Jewels from the Collection of Christina Onassis that realised £15 million
/ $29.4 million/ €18.9 million - the highest total for any jewellery
auction held in the UK. The
private Collection of Simon Sainsbury, one of Britain's most generous
philanthropists was sold for a total of £27.1 million / $53 million/ €34
million. Proceeds benefited The
Monument Trust. The Kenure Cabinet
by Thomas Chippendale realised £2.7 million / $5.3 million/€3.4 million in June - a record price for any piece of
British furniture. At the same
auction, three other works surpassed the previous record price for a piece
of British furniture, and 10 lots realise a total of £10.3 million / $20.2
million / €13 million.
The refurbished South Kensington salerooms saw over 120,000
visitors in the first six months of the year. The dual strategy of a
regular programme of single category specialist sales interwoven with the
recently launched weekly Interiors sales have proved highly appealing and
successful for all clients, in both buying and selling capacities at all
price levels. Sales for the site totalled £40 million/$80 million and in
June, the auction of South Asian Modern + Contemporary Art realized
£5.4 million /$10.6 million/€6.8 million, the highest total for the
category in London. The auction
saw 12 artist records broken with Francis Newton Souza's Birth,
1955 selling for £1.3 million/ US$2.54 million/ €1.6 million setting a
record price for an Indian modern and contemporary work of art sold at
auction, and becoming the most expensive lot ever sold at Christie's South
Kensington.
Christie's in France established 28 world
auction records in the first half of 2008 in sales that realized €85.9
million/£67 million/$132 million, with 13 works of art selling for over €1
million. Highlights included the
Collection of Charles Gillot in March which totaled €17.9 million/£13.7
million/US$27.3 million, becoming the 2nd highest collection
sold at Christie's in Paris. A new
world record was also established for any Islamic inlaid metalwork, and a
world auction record for a living, female artist was set when Louise
Bourgeois' Spider, 2003, sold for €2.9 million/£2.3 million/US$4.5
million.
Christie's celebrated 40 years in Switzerland
with strong results in the first half of 2008. The sales in Geneva and Zurich totaled £46 million/$89
million, with the Geneva sales up 70% on the same sales in 2007 led by a
particularly strong jewellery sale that realized SFr.59.2 million/US$57
million/€36.8 million.
The week of sales in Milan, Italy held in
May totaled €18.8 million/£14 million/US$18 million, up 28% on the same
period in 2007 demonstrating the continued strength and stability of the high
end Italian market.
Christie's Amsterdam, Holland established
68% market share in the region in a season that totaled £23 million/$45
million led by a sale of works from the Liechtenstein Collection that
totaled €5.3 million/£4.3 million/$8.3 million. A pair of Bleau globes sold for €794,000/£630,000/ $1.2 million, the most valuable art
objects ever sold in Holland.
Christie's continued commitment to Russia and the CIS States
was signaled by a superb exhibition of Pre-Raphaelite
masters and Russian works of art at the State Tretyakov
Gallery in Moscow in May and an exhibition of Old Masters and
Impressionist and Modern art works at the Marble Palace in St Petersburg
in June. Christie's Russian sale totaled £11.3 million/$22 million/€ 14.2 million in June and a new
world record price for a work by a female artist, and a record price
for an artist at auction was established in the June Impressionist
and Modern Sale when Natalia Goncharova's Les Fleurs sold for £5.5 million/ $10.9 million/ €7 million.
Americas
Sales in the
Americas totaled £631 million ($1.2 billion).
Christie's
led Americana week in January with a series of extremely significant collections totaling $18,147,963. Among
the highlights was The Stevenson Family Chippendale Mahogany Scalloped-Top
Tea Table, which achieved $5.4 million.
A Asia Week in March realized $80.1 million,
the highest total ever for Asian Art sales in New York. Christie's claimed
63% market-share for the week, and broke numerous records, including the Dainichi
Nyorai Buddha, which sold for $14.4 million and broke the world
auction record for Japanese art.
In In April, Christie's Jewels: The New
York Sale totaled $49.9 million/ $25 million, making it the most
valuable jewellery auction ever held in the Americas. The Antonio Stradivari violin, ‘The Penny'
sold in New York to an online bidder for $1,273,000, making it the
most expensive lot ever sold to a Christie's LIVE user based in
Europe. Christie's led New York Photography week with record breaking sales,
totaling $17.6 million, the highest total in auction history for the
category.
Christie's achieved an exceptional $739.5 million
for its May 2008 Impressionist & Modern and Post-War &
Contemporary Art Sales, during which 30 new world records were established
and 18 lots were sold for over $10 million. Highlights included Claude
Monet's Le Pont du chemin de fer à Argenteuil, which sold for $41.5
million/£21 million and set a new world auction record for the artist, and
Lucian Freud's Benefits Supervisor Sleeping, which fetched $33.6
million/ £17.3 million and set a world auction record for any living
artist. Also triumphant was the
Important American Paintings, Drawings and Sculpture sale, which saw
the highest total ever for American Western Art at auction, and included
Thomas Moran's $17.7 million/ £9 million Green River of Wyoming,
which doubled the previous auction record for a 19th century American
painting. Christie's concluded its
May sales with a landmark Latin American Sale, which realized a new
world auction record for Latin American Art with Rufino Tamayo's Trovador
at $7.2 million/ £3.6 million, and set the highest total ever for the
category at $26.6 million/ £13.5 million.
Middle East
Christie's fourth
Dubai sale series totalled AED147.3 million/$40 million.
Four works sold for over $1
million, and 71 new artists records were established including for Parviz
Tanavoli's The Wall (Oh Persepolis) which sold for AED10.4
million/$2.8 million, the most expensive work of art ever sold at auction
in the Middle East and establishing a new world record for any Iranian
artist at auction. A superb
natural pearl and diamond necklace sold for AED6.4 million/$1.7 million.
The Christie's/YouGov Siraj
Survey, released in March, polled over 100,000 GCC residents and
demonstrated that 40% of participants anticipate their spend on art will
increase over the next five years.
Asia
The Hong Kong Spring 2008 Spring
sales totalled HK$2.4 billion/$310.7 million/ £156.9 million, a 63% increase
over the same series in 2007 and marking the highest total ever achieved in an
art sales season in Asia with Christie's taking 58.5% market share in the
region. An increasingly international
and diverse range of buyers reflect the glowing global interest in Asian art
and an expanding base of Asian collectors.
Chinese Ceramics & Works of Art totalled HK$734.7
million/US$94.4 million/£47.5 million, the highest total ever in this
category at Christie's. In
particular, a special collection of magnificent clocks for the Chinese
Imperial Court from the Nezu Museum achieved a total of HK281 million /
US$36 million/£18.2 million, making it the most valuable horological
auction ever held.
The inaugural evening sale in the region of Asian Contemporary
and Chinese 20th Century art realised HK$813.8 million/US$14.6
million/£30.3 million, a 33% increase over Spring 2007. Artist records
were established including for 38 Japanese artists, 10 Indian artists, 8 Chinese
artists and 11 Korean artists.
Continued strong performance was seen in the Southeast Asia art
sale that totalled HK$72 million/US$9.3 million/ £4.7 million, a 39%
increase from Spring 2007. The
Chinese and Modern Paintings and Classical Calligraphy and Paintings sales
totalled HK$241.2 million / US$31 million/ £15.5 million, a 20% increase
in sale total over the same period last year.
A record price for any watch sold in Asia was established in
another strong Watch sale when the possibly unique Patek Philippe Ref:
2499 sold for HK£10.4 million/ US$1.3 million/£673,000.
Jewels: The Hong Kong
Sale went exceptionally well and totalled HK$468.8 million/US$60.1 million/
£30.4 million becoming the most valuable jewellery sale ever organised by
Christie's globally, led by the largest diamond ever sold in Asia, a
101.27 ct F, VVS1 diamond sold for HK$48.5 million/US$6.2 million/£3.1
million.
Looking Ahead
“As worldwide sales values continue to
remain steady, Christie's approaches the second half of the year in the
continued belief that the global art market overall will remain strong and
steady,” said Edward Dolman, Chief Executive Officer.
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