Auction Houses Sotheby's, Christie's, Phillips Report Record 2021 Sales

Sotheby's, Christie's, and Phillips achieved record sales in 2021, driven by a 'phygital' strategy blending digital and physical auctions. Sotheby's reported $7.3 billion in total sales, the highest in its history, with private sales contributing $1.3 billion. The Macklowe collection sold for $676 million in New York, and Banksy's 'Love is in the Bin' fetched £18.6 million in London. Christie's reached $7.1 billion, its best in five years, led by Beeple's NFT 'Everydays: The First 5000 Days' at $69.3 million and Picasso's 'Femme assise près d'une fenêtre' at $103.4 million. Christie's plans a new Hong Kong venue at The Henderson by 2024. Phillips achieved $1.2 billion, its highest ever, with a white-glove auction in Hong Kong in June 2021 and a record $137.9 million sale in New York. The Asian market drove growth, and Phillips will open a new Hong Kong space in 2023. NFT sales attracted younger collectors, with an average age of 42 for digital art buyers.