RawFacts Monthly – May 2017

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Auction Sales in May up 14% compared to last year

RawFacts Monthly signals that May sales across Sotheby’s, Christie’s and Phillips global auctions were up 14% compared to 12 months ago. This follows an 8.2% decrease in auction sales in April. Total auction sales last month amounted to $2.57 billion (based on 12,055 lots sold) versus $2.25 billion in May 2016 (based on 14,498 lots sold).

Post-war and contemporary art raise $1.1 billion

The post-war and contemporary art sector accounted for $1.1 billion worth of sales in May 2017 (up 29.7% from $845.9 million in 2016). The second biggest category this May was modern and Impressionist art with $531.4 million (up from $365.4 million in 2016) in reported sales.