Arta’s Post

Auction house Christie's plans to end the second half of the year with a sales total of HK$3.28bn (£330m) in Asia across all luxury sales. https://lnkd.in/gXvvG2pe

Resale Analysis: London Marquee Evening Auctions – October 2024 The London Marquee Evening sales in October 2024 saw 33 lots returning to the auction market, accounting for 41% of the total evening sales value (sales at Sotheby’s and Phillips). This analysis takes a closer look at the performance of these repeat auction sales and the relationship between holding periods and return on investment. https://lnkd.in/ezWTWHpp #artmarkettrends #auctiontrends #artmarket #art  #contemporaryart #resaleanalysis #londonmarqueesales 

What is a luxury home auction and when should your seller consider it? I recently attended a few luxury auctions, and they were great; however, they aren’t for everyone. Today, I’m breaking down why you might want to use an auction and sharing three circumstances when I think an auction house makes sense. First, if your seller wants certainty or they need to see fast…this is a good option. To learn more, check out this video. Learn more: https://lnkd.in/ggmxH67U

Sotheby’s is pioneering a new auction format with "Sotheby’s Sealed", marking a shift in their approach to art sales amidst ongoing policy changes. Originally used for #luxury items such as cars, jewellery and watches, this format is now being applied to #fineart as well. In contrast to traditional auctions, 'Sotheby’s Sealed' maintains strict confidentiality regarding bid amounts, disclosing only the bidder's ranking without specific bid details or publishing any sale results. This lack of #transparency, however, has sparked concerns within the #art market, suggesting it could lead to inflated prices and erode trust in valuation standards. To me, this format seems like a middle ground between public auctions and private sales, providing us some visibility into private market offerings while retaining elements of confidentiality in bidding. How this will impact the #artmarket? Check out Kyle Castellanos analysis (and concerns) in his latest article: https://lnkd.in/d9Zpwqtr (Image: Sotheby's)

Interesting analysis from Pi-eX. A number of players have experienced a slower market in the past 12 months which is now crystallizing also through auctions. Still the current situation may lend itself to snap up good investments. PMme for further insights or advices. #artinvesting #art #luxuryinvesting #anthea #artbasel

The marquee London Evening Sales came with tempered expectations this year, following recent auctions in New York City and Hong Kong that confirmed a cooling market. The U.K., in particular, has been hit hard by this slowdown, as Brexit’s lingering effects are compounded by global economic uncertainty and geopolitical tensions. All three of the major auction houses had to tread carefully with estimates and fresh-to-market consignments, but some navigated these challenges better than others, as shown by sell-through rates, if not the final hammer prices. Sellers had to adjust to the buyers’ market, with many lots selling at or just near the low estimate. My analysis on the London Sales on Observer #artbusiness #artadvisory #artmarket https://lnkd.in/eFEe-2fy

The total results from the Sotheby's Hong Kong Spring series in 2024 plummeted to $2.1b HKD (263m USD) from $3.8b HKD (491m USD) in 2023, marking a stunning drop of almost 50% (-46%). - No category was spared, whether it be Chinese art (-57%), Luxury items and accessories (-34%), Modern & Contemporary art (-38%), or any other sales (-41%). - While sales from Modern & Contemporary art started to contract 2 years ago, the shortfall in revenue was compensated, in 2022 by the impressive sale of a De Beers Blue diamond (for 451m HKD / $57.5m), and in 2023 by the celebration of the 50 year anniversary of Sotheby’s in China. - This year however, there was little to compensate for the worldwide contraction of the art market, the uncertainty in the Chinese economy, or concerns around political shifts in Hong Kong. Bar any significant but unanticipated revenue from the final online sales in the series, this spring delivers a sobering but realistic picture of the state of Sotheby’s public auction sales in Hong Kong. Source: Pi-eX MESO Report - Sotheby's 2024 Hong Kong Spring Auctions: 2007-2024 #auction #hongkong #art #fineart #auctionreport #artanalysis #arttrend #sothebys #sothebyshongkong #auctionresults

As we move further into Spring, Sydney’s auction market continues to perform well. Auction volumes are rising steadily and this weekend saw 864 properties go under the hammer, with a clearance rate of 70.6% which is down slightly from last week’s 73.1%. Buyer interest remains strong, however many are taking their time and being more cautious about the prospect of paying too much. This in turn is seeing what could be the start of a widening of the gap between buyers and sellers. Properties that are priced attractively are performing well, and those that are overly ambitious are being either withdrawn or passed in. Need help navigating the market or selecting the best agent for your sale? We’re here to help! 📧 kathryn@sydneyvendoradvocates.au 📞 0411 522 233 #MarketWrapUp #SydneyAuctionResults #SpringSellingSeason #VendorAdvocacy #AuctionClearance #SydneyRealEstate #KathrynFantov

Total combined revenue for the November 2024 New York Marquee auctions at Christie’s, Sotheby’s, and Phillips amounted to $1.3 billion (including buyer's premium), a 41% contraction from November 2023, as the smallest offering of lots since 2007 went to auction. The decline was primarily driven by a steep 50% reduction in the value of the Marquee evening sales, which fell to $668 million from $1.35 billion in November 2023. Despite the disappointing results, the overall performance of individual lots auctioned was notably resilient. Total hammer prices aligned closely with pre-sale estimates, and the number of withdrawn and unsold lots increased only slightly. The heart of the issue, however, was not what went under the hammer, but rather what did not make it to the auction block. The absence of high-value lots not only constrained revenue, but also revealed a vulnerability in the market’s ability to attract and secure top-tier consignments. Source: Pi-eX MESO Report - New York November Marquee sales, Private Collections & Curated Auctions: 2007 - 2024 #fineart #modernart #contemporary #art #auction #publicauction #christies #sothebys #phillips #marqueesales

As we move further into Spring, Sydney’s auction market continues to perform well. Auction volumes are rising steadily and this weekend saw 864 properties go under the hammer, with a clearance rate of 70.6% which is down slightly from last week’s 73.1%. Buyer interest remains strong, however many are taking their time and being more cautious about the prospect of paying too much. This in turn is seeing what could be the start of a widening of the gap between buyers and sellers. Properties that are priced attractively are performing well, and those that are overly ambitious are being either withdrawn or passed in. Need help navigating the market or selecting the best agent for your sale? We’re here to help! 📧 kathryn@sydneyvendoradvocates.au 📞 0411 522 233 #MarketWrapUp #SydneyAuctionResults #SpringSellingSeason #VendorAdvocacy #AuctionClearance #SydneyRealEstate #KathrynFantov