LifeStyle

 NEWS & ARTICLES
Home LifeStyleArts & Culture   Christie's Auctions Report $3.2 Billion in Global Art Sales in First Half 2011
RSS
article by
Freelance Writer |

Christie's Auctions Report $3.2 Billion in Global Art Sales in First Half 2011

Jul. 21st, 2011 | Comments 1 | Make a Comment   
Photo Courtesy of Christie's
While many industries are either slumping or struggling to maintain this year, the demand for high-end artwork is doing phenomenally well in 2011. Auctioneer Christie's announced that its worldwide sales for the first half reached $3.2 billion. This represents an increase of ten percent globally for the same time period in 2010.

An analysis of the sales indicates that several prevalent factors were significant in the renowned auction house achieving these stupendous results. More collectors than previous years are bidding on the most expensive pieces available. There also was a 30 percent rise in the overall number of lots sold for the same time last year.

Art priced between $815,000 and $1.6 million had an average sell-through rate in excess of 90 percent. Additionally, Christie's sold eight of the top ten lots auctioned in the public marketplace, reporting sales of more than $20 million. The auctioneer also sold 376 lots for more than $1 million at auctions. Eighty percent of the top-selling lots were attributed to Christie's at the midyear point as well. While 78 percent of new clients come from Continental Europe, the UK, and the US, Asia remains in first place as the top emerging market.

Top 10 lots sold through first-half 2011 by Christie's

1. $38,442,500: Andy Warhol, Self-Portrait, 1963-1964 New York; May 11.

2. $33,682,500: Mark Rothko, Untitled No. 17, 1961 New York; May 11 .

3. $29,133,148: Pablo Picasso, Femme assise, robe bleue 1939, King Street; June 21.

4. $28,666,155: Francis Bacon, Study for a Portrait, 1953, King Street; June 28.

5. $27,522,500: Andy Warhol, Self-Portrait, 1986 , New York; May 11.

6. $25,282,500: Francis Bacon, Three Studies for Self- Portrait, 1974, New York; May 11

7. $22,482,500: Claude Monet, Les Peupliers, 1891, New York; May 4.

8. $22,482,500: Maurice de Vlaminck, Paysage de banlieue, 1905, New York; May 4.

9. $21,866,588: Pablo Picasso, Picasso, Jeune fille endormie, 1935, King Street; June 21. (pictured above)

10. $21,362,500: Pablo Picasso, Les femmes d'Alger, version L, 1955, New York; May 4.

For more information, visit Christies.com.
Photo Courtesy of Christie's

Andy Warhol, Self-Portrait
Photo Courtesy of Christie's

Mark Rothko, Untitled No. 17
Photo Courtesy of Christie's

Pablo Picasso, Femme assise, robe bleue
Photo Courtesy of Christie's

Francis Bacon, Study for a Portrait
Photo Courtesy of Christie's

Andy Warhol, Self-Portrait
Photo Courtesy of Christie's

Francis Bacon, Three Studies for Self-Portrait
Photo Courtesy of Christie's

Claude Monet, Les Peupliers
Photo Courtesy of Christie's

Maurice de Vlaminck, Paysage de banlieue
Photo Courtesy of Christie's

Pablo Picasso, Jeune fille endormie
related articles
Write a Story/Review about Art

Post a Comment

 
1 Comments on this Article

Deborah-Eve commented on July 24, 2011

It seems that art is always a good investment as long as you personally like what you buy, just in case you can't resell it! However, this list seems rather predictable and expected--which I suppose is what exists in this price range. For a lot less, I think there is a wealth of incredible art produced by emerging and younger artists! http://goo.gl/CUzAr

Reply    Report this Comment