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RawFacts Auction Review 2020

  • Analyst: Lindsay Dewar
  • Pages: 20
  • Access: Analyst

Global auction sales from Christie’s, Sotheby’s and Phillips ended at $7.41 billion in 2020, down 25.9% from 2019. This was on the back of a 19.8% decline in sales in 2019. Public auction sales suffered significantly from the severe impact of the Covid-19 pandemic during the second quarter, which led to a drop of 77.9% in sales (compared to Q2 in 2019). However, total auction sales across all categories saw a 30.1% year-on-year increase in the second half to $5.59 billion.

Highlights:

– Global art market recovers in second half of 2020 as auction houses learn to live with the impact of Covid-19.

– The global auction market is shifting East.

– Auction houses reap the benefits of digital transformation.

– Sotheby’s and Phillips gain market share.

– Other collectible segments weather the crisis as online auctions provide a new gateway for buyers.

About this report:

This report presents an instant comparative analysis of all auction sales (physical, online-only and Hybrid sales) at Sotheby’s, Christie’s and Phillips in 2020. The report allows you to quickly see which auction house is trending, and what collecting segments are the key drivers of growth, or were most impacted by the Covid-19 pandemic.