Auctioneers Figures

Christie’s reported total sales for 2018 at £5.3bn, up 3% on the previous year – led by the Rockefeller collection which set a record for any private collection at auction.

Sotheby’s France was the top performer in the country last year, boosted by the sale of a Qianlong mark and period vase that became the most expensive lot sold in France in 2018.

Auction house Sotheby’s reported its third-quarter results for the three months to September 30 revealing a net loss of $27.8m (£21.43bn) - down 19% on the $23.5m posted a year ago.

Sotheby’s made more sales but at lower margins in the first half of 2018 according to its latest financial results.

Consignors tempted back by salerooms to sell at auction in 2017 has helped put art top of the league of investment assets, according to the latest report.

Auction house Sotheby’s has reported a 70% jump in private sales in the first three months of 2018 to $247m (£182m).

Sotheby’s reported a 12% jump in sales last year to $5.5bn (£4bn). The US-listed auction house said profit, or adjusted net income, improved by 22% from $99.6m to $121.7m in 2017, boosted by an increase in commission and fees.

Christie’s sold seven out of the top 10 highest-value auction lots around the world last year – boosted by Leonardo da Vinci’s Salvator Mundi.

Released today, Sotheby’s third-quarter results indicated a significant improvement thanks largely to a boost from the latest series of Asian art auctions.

Sotheby’s revenues for the second quarter of 2017 rose 5% but its profit fell 14% to $76.9m due to a rise in expenses and a decline at its financial services arm.

Christie’s first half results show positive signs for the art auction market after a difficult 2016.

Sotheby’s latest set of results for the first quarter of 2017 showed an improvement in its fortunes over the equivalent period last year.

Sotheby’s returned to profit in the fourth quarter of 2016, attributing this to improved commissions and growing market confidence, though sales for 2016 overall were down.

Christie’s posted total sales of £4bn in 2016, a decrease of 16% compared to the previous year and well down from the art market’s high watermark of £5.1bn in 2014.