The $835 Million Rockefeller Auctions Fueled a Record Half Year for Christie’s

It’s been a record-breaking six months for Christie’s. Sales were up across the board for the auction house, which reported first-half results for 2018 today. Overall, sales spiked 26 percent to “almost £3 billion,” or $4 billion, compared to £2.35 billion ($3.1 billion) in the first half of 2017.

The clearest boost to the bottom line came from the historic Rockefeller collection, a marathon series of auctions that pulled in $835 million in revenue. That whopping total came on top of the regular spring cash cow sales of Impressionist, Modern, and contemporary art in New York in May.

Other factors that helped fuel the boom, according to Christie’s, included “continued global demand and audience engagement with the diversity of collecting categories.” Auction sales were up 20 percent—to £2.65 billion ($3.6 billion)—while private sales rose a significant 135 percent, to £287 million ($390.3 million). Read more

2018-10-23T20:55:28+00:00