Christie's International Announces Record Worldwide Sales

Tuesday, 25 July 2006 10:21

London/New York – Christie’s International announce today worldwide auction sales totaled £1.17 billion (US$2.13 billion) for the first six months of 2006, an increase of 38% in £’s (39% in US$’s) on last year’s figure of £888 million (US$1.65 billion) for the same period.  This figure includes sales premium.  In Christie’s salesrooms around the world, 189 works of art sold for more than US$1 million, compared to 178 works sold during the same period last year.

“Christie’s 2006 first half-year results reflect the current strength of the global art market as sales across all categories and geographies of our business performed extremely well,” said Edward Dolman, Chief Executive Officer, Christie’s International.  “This record company performance was underpinned by robust high-end auctions of Impressionist and Modern art, Post-War and Contemporary art, Jewellery, Asian art, Old Master Pictures and 20th Century Decorative Arts. 

Christie’s is committed to further growth as we continue to execute our strategies including the exciting launch of Christie's LIVE, the real-time internet bidding facility that will be rolled out across our auction sales throughout the year.  We also continue to grow our revenue and profitability.

“Christie’s innovative and aggressive emerging markets strategy has also resulted in tremendous sales in Hong Kong and as well as in the growth sectors of Russian and Indian art.  In addition, Christie's became the first international auction house to stage a sale in the United Arab Emirates when our inaugural auction in Dubai totaled £4.9 million (US$8.4 million) in May.  It is our goal to inspire clients across all categories in all the areas we sell.

“Among our global highlights this year were Vincent van Gogh’s L'Arlesienne, Madame Ginoux, which sold for £22,041,530/US$40,336,000 and J. M. W. Turner’s Giudecca, La Donna della Salute San Giorgio, that sold for £20,489,143/US$35,856,000 -- a new world record for the artist and for a British painting.  A further particular success was the sale of the Claude and Simone Dray Collection in Paris in June which realized €59.7 million (£41.3 million/US$76.3 million), the highest total for a sale in France for over fifteen years and setting a new record for both a sale and works of 20^th century decorative arts.

“The Autumn season looks highly encouraging and recent consignments include the Andrew Lloyd Webber Foundation’s Blue Period Picasso, works of art and Old Master paintings from the gallery and personal collection of the renowned Parisian fine arts dealer Maurice Ségoura, and the historic Star Trek memorabilia from the vaults of Paramount Studios on the occasion of the programme’s 40th anniversary.  (See www.christies.com for Fall 2006 Season Highlights).”