Christie’s International, the world’s leading art business, announced worldwide sales for 2010 of £3.3 billion/$5.0 billion, up 53% by £ on last year’s figure of £2.1 billion (Figures include buyer’s premium). The highest sales total in the 245 year history of the firm, the figure is also the highest annual sales total ever recorded in the industry in £. Sales totals include private sales of £369.3 million/$572.4 million, an increase of 39% by £ on 2009 figures.

In a year of blockbuster sales and record-breaking results, Christie’s maintained its market leader status and sold 66% of the works over $50 million against its main competitor.

High sell-through rates at all price levels continued to demonstrate the strength and stability of the art market. In 2010, average auction sold rates (by lot) were 79.4%, on a par with 2009 (79.7%).

In 2010, the number of new clients who registered for a sale rose 22.7% on 2009 and the number who went on to buy in Christie’s sales increased by 13%. The total spend by new clients in Christie’s sales rose 19% and now represents 11% of total sales.

With annual sales of £275.1 million/US$426.4 million, Christie’s has achieved its highest total ever for Jewellery, beating its previous record of US$395 million set in 2007. Each of its major sales regions experienced significant increases, most notably Asia with +73% and Europe with +70%. This tremendous leap in Christie’s results is due to a renewed confidence in the jewellery market, seen all over the world. With many new buyers in Europe, the US and naturally Asia actively participating at a high level, competition has become more intense than ever for rare jewels and gems of the highest quality. In particular, collectors from Mainland China have become a formidable force as they bid enthusiastically on many top pieces, displaying a continued passion for jadeite and growing connoisseurship of “Western” jewellery.

Coloured diamonds were undoubtedly the highlight of the year, with The Perfect Pink, a 14.23ct intense pink gem achieving US$23.2 million in Hong Kong in November, becoming the most expensive jewel ever sold in Asia. Similarly, The BULGARI Blue, a two-stone ring featuring a 10.95ct vivid blue and a 9.87ct G, VS1 diamond, fetched US$15.8 million or a world record US$1.4 million per carat for the blue gem. Based on current market demand, the focus in 2011 will undoubtedly be the search for gems of the highest quality, historic diamonds and colored stones, as well as rare signed jewels, which international collectors consider the most desirable today.

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