Auctioneers Figures

SOTHEBY’S results for the first quarter of 2002 show a 20 per cent drop in revenues – no great surprise following September 11 and smaller London Impressionist and Contemporary sales.

FRANCE: Paris auction house Drouot reported a slight rise of 0.66 per cent in 2001 turnover to Fr4.11bn (£391m). Art sales rose five per cent to Fr3.47bn (£330m).

Sotheby’s have instigated a dramatic ‘restructure’ of their company after announcing net losses of $183m for the first nine months of this year.

FRANCE: Sales rose 19.5 per cent at Drouot in Paris, to Fr1.965 billion (excluding premium), in the first six months of 2000, compared with the same period in 1999.

SALES figures for the first half of 2000 were up by more than a fifth at Christie’s.

SOTHEBY’S profits fell 5.2 per cent for the second quarter of 2000, against the same period last year, despite revenue rising. The company largely blames Internet expenses and the $3.8m costs of the anti-trust investigation for this drop.

UK: LONDON-based auctioneers PHILLIPS’ bid to join Sotheby’s and Christie’s in the premier league of the auction world appears to be making some progress as they reported a 48 per cent increase in hammer sales for their London rooms for January to July this year.

UK: TURNOVER figures posted by provincial auctioneers for the year January to December 1999 revealed a turnaround in the positions of the top two firms.

CHRISTIE'S and Sotheby's announced a substantial increase in turnover for 1999, each registering total sales in the world art market of $2.3 billion (£1.46bn).

CHRISTIE'S had their best ever year in 1999, exceeding the peak of annual turnover achieved at the height of the last art boom.