Christie's Brett Gorvy on Record Auction Sales and Market Trends
Back in November 2013, Brett Gorvy, who is the chairman and the global head of post-war and contemporary art at Christie's, oversaw a groundbreaking sale of Francis Bacon's triptych, Three Studies of Lucian Freud. It sold for an incredible $142.4 million, breaking the auction record for contemporary art. Fast forward to the first half of 2014, and Christie's reported record sales close to £800 million, showing a 20 percent increase from the same period in 2013. Contemporary art now makes up nearly half of all auction sales, and collectors are eager to spend on up-and-coming artists. The market is booming, with a wave of new collectors and no signs of slowing down. Gorvy's role during this exciting time underscores his importance in the art world.
Key facts
- Brett Gorvy is chairman and international head of post-war and contemporary art at Christie's.
- Francis Bacon's triptych Three Studies of Lucian Freud sold for $142.4 million (£88.3m) at auction in November 2013.
- The sale set a record for the most expensive contemporary artwork ever sold at auction.
- Christie's sales reached just under £800 million in the first six months of 2014.
- This represented a 20 percent increase over the same period in 2013.
- Contemporary art sales now account for close to half of all auction business.
- Collectors are paying high prices at auction for new works by very young artists.
- The market is booming with new collectors and shows no sign of a bust.
Entities
Artists
- Brett Gorvy
- Francis Bacon
- Lucian Freud
Institutions
- Christie's
- The Guardian
Locations
- New York
- United States
- China
- Asia
- Middle East
- Hong Kong
- Americas
- Europe