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CHRISTIE'S SALES FELL BY 33% DURING THE FIRST HALF YEAR OF 2016
26 July 2016
Category : MARKET

Christie's global sales during the first half of 2016 totaled 3 billion USD, a 33% drop in US dollar terms compared with the same period in 2015 when sales amounted to 4,5 billion.

Sales volumes were down by 29% mainly because of a drop in supply of works above 20 million USD at auction, with 29 lots selling for more than $6.5 million, compared with 47 lots in the first half of 2015.

The auction house said sales in America totaled 1.1 billion USD, which is down by 33 percent from first half of 2015 but insisted that there was a continued global demand to acquire works of art.

Christie's added that new buyers accounted for 25 percent of all buyers in the first half of 2016. New clients in the Americas increased by 22 percent, while E-commerce sales grew by 96 percent from 15.3 million USD to 28 million. 

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