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Chinese buyers worldwide in Christie’s sales
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Transtlate Christie’s auctioneers sold $3.3 billion worth of art in 2009, a decrease of 35 percent in dollar terms over 2008, the auction house announced Thursday.
Despite the overall decline in auction and private sales, Christie’s said Chinese demand remained solid.
"In 2009, the value bought by Chinese buyers worldwide in Christie’s sales increased by 94 percent,” said Edward Dolman, CEO of Christie’s International.
He said that buyers from China accounted for 35 percent of all buying value last year, a rise of one fifth on 2008.
Asian art was also the second largest sector in terms of value after impressionist and modern art, pushing post-war and contemporary works into third place.
Christie’s boasted the most expensive lot in 2009, Head of a Muse by Raphael, which fetched 29.2 million pounds ($47.9 million) in London in December, a world record price for any work on paper and for the artist at auction.
While the number of lots offered in major auctions last year fell sharply as sellers held out for a return to record prices, the art market avoided the dramatic collapse that some experts had feared.
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