Auctions

Christie’s Luxury Market reports record online sales

Christie’s has seen an accelerated shift to online sales during the pandemic, with around 136 records being set across jewells, watches and handbag sales.

During the pandemic, Christie’s saw a 41% increase in luxury lots sold in online auctions, a 82% rise in the number of luxury online sales and a 205% increase in the value of online luxury sales year-on-year.

There was an increase in global participation in online auctions, with bidders coming from 90 countries, and 53 lots achieved over $1m (£752,000).

Aline Sylla-Walbaum, Christie’s global managing director for Luxury, said: “This year, when so many of our live sales could not be held in person, we quickly moved and scaled our sales even more towards online, where we were holding already sales for the past 10 years.

“In total we conducted 40 Luxury online sales (82%+ from 2019) with a 205% increase in the value of online luxury sales. Recent live auctions in Geneva and New York opted for a more hybrid approach, much appreciated by our clients – both, consignors and buyers.”

She added: “The one thing that I will take from this year is the immense trust of our traditional and new client (+40%) based on our expertise to buy online, without the chance of seeing the objects in the flesh.

“Also a huge thank you is due to our consignors, trusting in our digital platform and in our excellent client relationships.”

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