Christie`s projected global sales total: $6.2 billion in 2023

Artdaily_ “2023 has been a paradoxical year for Christie’s. A challenging macro-environment and the art market contraction explain our lower auction totals compared to the record sales of the previous year. At the same time, however, we are pleased by the business decisions we have made in 2023. We saw an increase in private sales and a strong influx of new and younger clients at auction. We have been continuing our judicious investments in innovation and expansion. We are confident for the future, with a promising pipeline of consignments already in motion for 2024.” ---Guillaume Cerutti, Chief Executive Officer, Christie’s

8 Key Take-Aways From 2023:

1. Christie’s projected global sales total for art and luxury categories $6.2B / £5B / €5.8B / HK$48.7B (+7% USD above 2019 pre-COVID levels); (-7% USD contraction from 2022, excluding exceptional Paul Allen sale); (-25% USD contraction from 2022 including the Paul Allen collection sale)

2. Private Sales projected total $1.2B / £1B, +5% vs. 2022, representing 20% of our total sales (vs.14% in 2022). Highest value lot sold at Christie’s in 2023 was through private sale.

3. Solid sell-through rate of 84% for all lots at auction, and total hammer sales at 105% of low estimates, as Christie’s continues to deliver strong performance for consignors

4. Christie’s achieves highest ever total for Luxury sales at auction - $1B / £790M, led by The Bleu Royal, the most expensive jewel sold at auction in 2023, and luxury remains the number one entry category for new buyers at Christie’s

5. Strong influx of new buyers (35% of total clients) with growing participation of Millennials and Gen Z

6. Christie’s digital platform drives global growth; online-only sales account for 66% of all Christie’s new buyers YTD, with 33% growth in new bidders and buyers from Americas

7. Asian buying resilient, regionally and globally; the number of new buyers in our global sales from mainland China is up 30%. Figure will continue to grow as we look forward to opening our new APAC headquarters in Hong Kong in 2024

8. Robust new business streams complement auction and private sales— success of Christie’s Art Finance and Christie’s Ventures continues to provide innovative solutions for clients and strategic growth for the future