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Tech-savvy Sotheby s $5bn global sales beat Christie s $4 4bn in 2020

Specialists bidding in New York during Sotheby s Contemporary evening sale in June © Julian Cassady Photography LTD Sotheby’s year end revenue has edged ahead of Christie s, reporting total global sales of over $5bn compared to Christie s $4.4bn (£3.4bn). But as both auction houses are now private companies, their profit margins are not known. Somewhat remarkably for a year ruptured by a global pandemic, Sotheby s total sales are up from $4.8bn in 2019, (though likely still lower than its $5.3bn tally in 2018). Meanwhile, Christie’s turnover is $600m lower than its rival at $4.4bn, 25% lower than last year, which it attributes to a drop in live auction sales. Christie’s chief executive Guillaume Cerutti has described 2020 as “a shock and a catalyst”.

From ONE to 1,733,906,375: Christie s 2020 in numbers | Christie s

Nude with Joyous Painting, 1994. Oil and Magna on canvas. 70 x 53 in (177.8 x 134.6 cm). Property from an Important Private American Collection. Sold for $46,242,500 on 10 July 2020 at Christie’s in New York. Artwork: © Estate of Roy Lichtenstein/DACS 2020 Building on the unprecedented success of ONE, in October Christie’s launched 20th Century: London to Paris, a dynamic, cross-channel conversation between two culturally vibrant cities, followed in December by 20th Century: Hong Kong to New York, a relay sale live-streamed consecutively from Christie’s salerooms in Hong Kong and New York.  Mappa (Map), 1984 (detail). Sold for £1,702,500 on 22 October 2020 at Christie’s in London. Artwork: © Alighiero Boetti / DACS 2020

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