Christie’s reports soaring sales of over £10m in the first half of 2017

Demand among wealthy art lovers for high-value lots, including work by Constantin Brancusi and Max Beckmann, and record spending from Asian buyers boosted Christie’s auction house in the first half of the year.

The number of artworks sold for more than £10m rose to 38 in the first six months of 2017, from 14 in the same period last year.

The top lot was Brancusi’s La muse endormie, which sold in New York for $57.4m (£44.1m), while Beckmann’s Hölle der Vögel sold for £36m in London.

Sales included the the Fujita collection in New York, the Givenchy collection in Paris, and the Lambrecht and De Balkany collections in London.

Christie’s holds about 350 auctions a year, selling a range of luxury goods including fine art, handbags, jewellery and wine. Prices range from $200 to more than $100m, and in Hong Kong in May it sold a white crocodile skin Hermès Birkin handbag encrusted with 10.23 carats of diamonds for a record-breaking HK$2.9m (£293,000).online and private sales totalled £2.35bn, up by 14% compared with

In the first half of 2017 sales from auctions, the same period a year earlier and boosted partly by growing demand from Asian clients.

The chief executive of Christie’s, Guillaume Cerutti, said: “Christie’s continues to lead the auction market, characterised in the first half by increasing global demand and a stronger supply than 2016. With 35% of global spend, activity from Asian buyers has reached a new high, demonstrating Christie’s strength in this part of the world.”

Spending grew across all regions, with American-based clients accounting for 35% of sales value, and those from Europe, the Middle East, Russia and India for 30%.

“We are encouraged by these results, and continue to adapt our operations to this new international context,” Cerutti said. “We look forward to a strong second half of 2017 and beyond, with preparations beginning for the Rockefeller sale in the spring of 2018.”

Brancusi ‘La Muse Endormie’