Christie's Reports Historic £4.5 Billion Sales in 2013 with Strong Growth in Asia and Online

In 2013, Christie's auction house achieved impressive sales of £4.5 billion, marking a 16% increase from the previous year and setting a new record for auction houses. A highlight was in November when Francis Bacon's 1969 triptych, 'Three Studies of Lucian Freud,' sold for a staggering $142.2 million (£86 million) at the New York post-war and contemporary art auction. This growth was driven by a significant influx of new buyers, who constituted about a third of the total clients, and expanding markets worldwide. Notably, spending by Chinese buyers jumped 63% from 2012, while regions like Asia, the Middle East, Hong Kong, and the Americas saw sales increases of 36%, 30%, and 31%, respectively. In contrast, European sales dropped by 12%. Meanwhile, online sales skyrocketed to £13.2 million, reflecting a shift towards digital engagement in the art market, particularly from Asian collectors.