The online auction of the large firms increased by 436% during the pandemic

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Today the room Christie’s will hold “One”, a auction global of modern and contemporary art and design pieces, a new category of sale, which will take place in Hong Kong, Paris, London and New York . The sale will start in Hong Kong and will end in New York. We will combine the bids face-to-face, telephone and online and will be conducted by the top four auctioneers Christie’s: Elaine Kwok in Hong Kong, Cécile Verdier in Paris, Jussi Pylkkanen in London and Adrien Meyer in New York.

“Nude with Joyous Painting”, by Roy Lichtenstein (1994) – CHRISTIE’S

Among the most important works include “The women of Algiers (version F), Picasso (1955), whose estimate is around us $ 25 million; “Annie”, from Ed Ruscha (1962) -20-30 million dollars-; “Nude with Joyous Painting”, of Roy Lichtenstein (1994) -around $ 30 million – and “21.10.63”, from Zao Wou-Ki (1963) -around 10 million dollars-. At the end of June, its competitor Sotheby’s held its first sale global digital , the solution that you have found the break forced by the coronavirus in the acquisitions of masterpieces among the wealthiest in the world, and highlighting the “Triptych inspired by the Orestíada of Aeschylus” (1981), Francis Bacon , that they paid out more than $ 84 million (75 million euros). It was the first time he came out on the market since 1987, when it was sold by the prestigious art gallery Marlborough Hans Rasmus Astrup, a businessman and prominent collector Norwegian. It is one of only 28 triptychs painted by Bacon, half of whom already belong to museums.

In 2015, the version Or “women of Algiers” by Picasso was sold at Christie’s New York for $ 180 million , therefore being the most expensive in auction History. It was the last of fifteen pictures with the malaga reinterpreted the work of the same title, Eugène Delacroix, and in which he believed to see the last of his wives, Jacqueline Roque.

Market online,”Annie”, by Ed Ruscha (1962) – CHRISTIE’S

The sales online of art experienced a moderate growth, of 4 percent, by 2019, to reach 4.338 million euros, but the impact of the pandemic has given momentum to this market in recent months, as auctions of the first half of the year accounted for an increase of 436 per cent. So what the report says “The Art Market Online” , held annually by Hiscox, insurer specialising in works of art, exhibitions, museums, galleries and private collections, which makes clear the impact of the pandemic: only numbers generated in the online auction of Christie’s, Sotheby’s and Phillips in the first half of 2020 represent a growth four times greater (436%) with respect to the data of the same period of 2019.

The report estimates that online sales of Christie’s, Sotheby’s and Phillips generated 333 million euros in the first half of 2020, representing a growth of 436%, compared with the same period of 2019. Online sales accounted for 28.3% of the total sales of the auction in these three companies during the first half of 2020, a percentage much higher than the 1.2% registered in the same period, in 2019. Globally, digital sales still represent less than 10% of the art market.

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