Christie’s First Half Auction Sales Drop 22% to $2.1B
The art market has shown signs of resilience despite challenges, as seen in Christie’s first half results for 2024. The auction house generated $2.1bn in revenue, a decrease from previous years but with positive indicators. Key metrics like the sell-through rate and the index of hammer price to low estimate remained steady or improved. Top-end works of art saw lower prices compared to previous years, reflecting ongoing economic uncertainties. Christie’s performed well in categories like 20th and 21st-century art, luxury goods, and works from Asia. Private sales data was not disclosed, but the company continues to invest in new initiatives like the Asia Pacific headquarters. The market showed growth in regions like Asia and among millennial clients. Overall, Christie’s demonstrated resilience in navigating the challenges of the art market in 2024.
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Cillian O’Rourke, studied at the National College of Art and Design in Dublin, Ireland, where he majored in Visual Communication. His work spans graphic design, illustration, and branding, with a distinct minimalist style that emphasizes simplicity and impact. Cillian has collaborated with international brands and runs his own design studio focusing on creative solutions for startups.