“Christie’s became the absolute leader of the season” – Kommersant FM

Kommersant FM columnist Dmitry Butkevich tells what results the auction market players completed the 2022-2023 season in the contemporary art segment.

Reports appear in the media about the state of the art market in the past auction season, which lasts from the summer of 2022 to the summer of 2023. Experts note that during the 21st century the contemporary art market has experienced exceptional growth. In the 2000-2001 season, the Sovriska segment received a total amount of $103 million. But in the last period, this section earned $2.3 billion, that is, 22 times more.

For 2022-2023 the fourth best result in history in terms of auction turnover and the highest volume of transactions ever recorded, with more than 123 thousand lots of contemporary art sold at auction.

In short, the contemporary art market is offering more and more lots from more and more artists, and more and more collectors are purchasing art objects.

Very noteworthy is the table that presents the top 10 world auction houses by largest auction turnover. In the top ten, just imagine, there are four Chinese companies. But the first three positions are still occupied by American traditionalists.

First on the list and the absolute leader of the season was Christie’s. His turnover was $650,990,907. The house sold 3,698 lots, and the absolute best result was $67.11 million.

The second was Sotheby’s, which sold 4.3 thousand lots for $595 million. The auction record last season was $28.5 million.

And the third is the Phillips house with revenue of $261 million. 3 thousand lots with a record of $10.5 million.

Then there are four Chinese structures: China Guardian (revenue $82 million), Beijing Yongle ($54 million), RomBon Auction ($51.5 million) and Poly Auction ($82 million).

Next come two Englishmen from Bonhams and Holly’s International.

In tenth place on the list is Tokyo’s SBI Art Auction; the Japanese received $25.5 million for 1,650 lots. Their season record is $1.3 million.