Auction Analysis: Italian Sales in London – Oct 2016
|Report Type||Artist Report|
Italian Sales in London down 50% from 12 months ago
The Italian sales (evening) during London’s Frieze week raised a total of £34,830,800 (excluding buyer’s premium), just below the low end of the pre-sales estimate range of £37,648,800 to £53,120,200. The sales total between Sotheby’s and Christie’s came in 49.8% lower than October 2015 and 39.2% lower than October 2014. This brought the sales levels back to October 2013, and signals a slowdown in the Italian auction market in line with what we have experienced in the overall US and European Post- War and Contemporary art market since November 2015.