Click here to close now.

SYS-CON MEDIA Authors: Elizabeth White, AppDynamics Blog, Ian Goldsmith, Ed Featherston, Pat Romanski

News Feed Item

Christie’s Announces New $20 Million Investment as Digital Engagement Drives Growth in the Art Market

Christie’s Chief Executive Officer, Steven P. Murphy, used a keynote dialogue on the Main Stage at Atlantic Ideas Live in New York City today to announce the decision to make a future investment in the region of $20 million in Christie’s technological and digital advancement including infrastructure improvements, enhanced client-service experience and creative-content and media-driven endeavours.

The global audience for art is increasing, museum attendance has increased again and the art market is continuing to grow. This is in part driven by digital accessibility of art and imagery”, Steven Murphy commented. “Over the next two weeks, Christie’s hosts key sales in the Americas and we will be offering masterpieces such as Monet’s Nymphéas and Bacon’s Three Studies of John Edward alongside online-only sales of Picasso Ceramics and works by Alexander Calder. We want to invite more people to join in and participate in collecting. Not long ago, our New York sales catalogue would be viewed by a few thousand catalogue subscribers four weeks before the sale –– now more than a million visitors view the works online. This online accessibility combined with ever increasing visitor numbers to our public exhibitions has shifted the dynamic. This has also fundamentally impacted the value of the original object itself, as the experience of standing in front of the picture and owning it has become even more powerful.”

In data released today, Christie’s confirms that 48% of all client registrations are now facilitated digitally. In 2013, 45% of buyers in online-only sales were new to Christie’s, with many sales seeing over 50% new client activity. Findings from online-only sales reveal that one in five buyers is under the age of 45 and visitors to christies.com came from 185 countries and numbered 20 million in 2013, 19% year on year growth, with mobile views increasing 42% during the year.

The span of the price of works of art sold online has included over 16 works sold for over $1 million through Christie’s LIVE to works of art selling for $2,500 and above. The average lot sold online is $10,000. The most popular categories to date have been the sales of Post-War and Contemporary work, led by the innovative partnership with the Andy Warhol Foundation, as well as highly successful sales of Picasso Ceramics, Chinese work of art, Luxury items including Wine and Jewelry and other categories including the fast growing area of Prints. To date, Christie’s has offered nine sales in conjunction with the Andy Warhol Foundation on our eCommerce platform, with the average lot selling for nearly $11,000 and with 14% of lots selling for over $20,000.

Today’s announcement of ongoing investment will lead to further improvements in the client service experience as well as content and media development. In the morning session facilitated by Quartz editor, Kevin Delaney, Mr. Murphy continued: “Digital is changing the way all companies operate, as well as increasingly affecting and influencing all of us in our daily lives. Internally in a company, as well as externally in how we communicate with and serve clients, digital creates efficiencies, leads to better and more productive relationships and for us, works to help better connect individuals and art works. We are investing across the board, from infrastructure improvements to creative, content driven endeavours.”

Notes to Editors:

Christie’s has already made significant investment in digital operations. In 2006, Christie’s was the first art business to launch online participation in live auctions and has seen an increase of 48% in the volume of lots purchased via its Christie’s LIVETM platform over the last 5 years. In 2011, Christie’s staged the Elizabeth Taylor collection to launch it’s eCommerce platform and to date has held seventy online art auctions.

Top 10 LIVE Lots in all time (2006-2013)

  1. October on Cape Cod – Edward Hopper (American Art, Nov 2012): $9,602,500
  2. An Important & Rare Bronze Wine Vessel & Cover, Fangyi (The Sze Yuan Tang Archaic Bronzes from The Anthony Hardy Collection, Sep 2010): $3,330,500
  3. 09.05.61 – Zao Wou-Ki (Asian 20th Century & Contemporary Art Evening Sale, May 2013): $1,712,478
  4. An Important Diamond Line Necklace (New York Magnificent Jewels, Oct 2011): $1,426,500
  5. Femme Debout, La Tête Nue - Georges Seurat (Pierre Berès À Livre Ouvert, Dec 2012): $1,406,842
  6. Dans Un Parc – Georges Seurat (Pierre Berès À Livre Ouvert, Dec 2012): $1,333,418
  7. Allo, Amélie - Joan Mitchell (Post-War & Contemporary Art Morning Session, May 2012): $1,314,5000
  8. A lawyer seated at a table reading a letter – Adriaen Jansz. van Ostade (Old Master & British Paintings Evening Sale, Dec 2011): $1,287,390
  9. A Violin, Known as the Penny, Cremona, Circa 1700 – Antonio Stradivari (Fine Musical Instruments, Apr 2008): $1,273,000
  10. A Bronze Figure of Shiva Vinadhara Dakshinamurti (Indian & Southeast Asian Art, Mar 2013): $1,203,750

Top 10 eComm lots ever sold (online only)

  1. An Apple®-1 Personal Computer (First Bytes, Jul 2013): $387,750
  2. I-95 – Richard Serra (Online: Post-War & Contemporary, Nov 2013): $197,000
  3. Untitled – John McCracken (Online: Post-War & Contemporary, Nov 2013): $149,000
  4. The World is Not Enough – BMW z8 kit car (50 Years of James Bond, Oct 2012): $132,720
  5. Casino Royale – One and Only Club poker table, card and chips (50 Years of James Bond, Oct 2012): $132,720
  6. A Vert Irlandais Alligator ‘Passe-Guide Ireland’ Bag (Hermès: Four One-of-a-Kind Passe-Guide Bags, May 2012): $125,215
  7. Untitled – Jean-Michel Basquiat (Online: Post-War & Contemporary, Nov 2013): $118,750
  8. I Love Your Kiss Forever Forever (see F. & S. II.5) – Andy Warhol (Warhol @ Christie’s, Mar 2013): $112,500
  9. Portrait of Elizabeth Taylor – Hiro Yamagata (The Collection of Elizabeth Taylor, Dec 2011): $108,000
  10. A M – Edward Ruscha (Online: Post-War & Contemporary, Nov 2013): $106,250

PRESS CONTACT: Jennifer Ferguson | +1 212 636 2680 | [email protected]

Please click here for the complete eCatalogue.

About Christie’s

Christie’s, the world's leading art business, had global auction and private sales in 2013 that totaled £4.5 billion/ $7.1 billion, making it the highest annual total in Christie’s history. Christie’s is a name and place that speaks of extraordinary art, unparalleled service and expertise, as well as international glamour. Founded in 1766 by James Christie, Christie's has since conducted the greatest and most celebrated auctions through the centuries providing a popular showcase for the unique and the beautiful. Christie’s offers around 450 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie's also has a long and successful history conducting private sales for its clients in all categories, with emphasis on Post-War & Contemporary, Impressionist & Modern, Old Masters and Jewellery. Private sales totaled £760.5 million ($1.19 billion) in 2013, an increase of 20% on the previous year.

Christie’s has a global presence with 53 offices in 32 countries and 12 salerooms around the world including in London, New York, Paris, Geneva, Milan, Amsterdam, Dubai, Zürich, Hong Kong, Shanghai, and Mumbai. More recently, Christie’s has led the market with expanded initiatives in growth markets such as Russia, China, India and the United Arab Emirates, with successful sales and exhibitions in Beijing, Mumbai and Dubai.

*Estimates do not include buyer’s premium. Sales totals are hammer price plus buyer’s premium and do not reflect costs, financing fees or application of buyer’s or seller’s credits.

Images available on request

FOLLOW CHRISTIE’S ON:

Pinterest
Facebook
Twitter
Instagram
Tumblr
YouTube
Weibo

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The truth is, today’s databases are anything but agile – they are effectively static repositories that are cumbersome to work with, difficult to change, and cannot keep pace with application demands. Performance suffers as a result, and it takes far longer than it should to deliver new features and capabilities needed to make your organization competitive. As your application and business needs change, data repositories and structures get outmoded rapidly, resulting in increased work for applica...
Docker offers a new, lightweight approach to application portability. Applications are shipped using a common container format and managed with a high-level API. Their processes run within isolated namespaces that abstract the operating environment independently of the distribution, versions, network setup, and other details of this environment. This "containerization" has often been nicknamed "the new virtualization." But containers are more than lightweight virtual machines. Beyond their small...
Grow your business with enterprise wearable apps using SAP Platforms and Google Glass. SAP and Google just launched the SAP and Google Glass Challenge, an opportunity for you to innovate and develop the best Enterprise Wearable App using SAP Platforms and Google Glass and gain valuable market exposure. In his session at @ThingsExpo, Brian McPhail, Senior Director of Business Development, ISVs & Digital Commerce at SAP, outlined the timeline of the SAP Google Glass Challenge and the opportunity...
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo – to be held June 9-11, 2015, at the Javits Center in New York City, NY – is now accepting Hackathon proposals. Hackathon sponsorship benefits include general brand exposure and increasing engagement with the developer ecosystem. At Cloud Expo 2014 Silicon Valley, IBM held the Bluemix Developer Playground on November 5 and ElasticBox held the DevOps Hackathon on November 6. Both events took place on the expo fl...
Enthusiasm for the Internet of Things has reached an all-time high. In 2013 alone, venture capitalists spent more than $1 billion dollars investing in the IoT space. With "smart" appliances and devices, IoT covers wearable smart devices, cloud services to hardware companies. Nest, a Google company, detects temperatures inside homes and automatically adjusts it by tracking its user's habit. These technologies are quickly developing and with it come challenges such as bridging infrastructure gaps,...
A new definition of Big Data & the practical applications of the defined components & associated technical architecture models This presentation introduces a new definition of Big Data, along with the practical applications of the defined components and associated technical architecture models. In his session at Big Data Expo, Tony Shan will start with looking into the concept of Big Data and tracing back the first definition by Doug Laney, and then he will dive deep into the description of 3V...
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
NuoDB just introduced the Swifts 2.1 Release. In this demo at 15th Cloud Expo, Seth Proctor, CTO of NuoDB, Inc., discussed why scaling databases in the cloud is challenging, why building your application on top of the infrastructure that is designed with this in mind makes a difference, and what you can do with NuoDB that simplifies your programming model, your operations model.
Hovhannes Avoyan, CEO of Monitis, Inc., a provider of on-demand systems management and monitoring software to 50,000 users spanning small businesses and Fortune 500 companies, has surpassed 1.5 million page views on the SYS-CON family of online magazines, which includes Cloud Computing Journal, DevOps Journal, Internet of Things Journal, and Big Data Journal. His home page at SYS-CON can be found at Montis.SYS-CON.com
As enterprises look to take advantage of the cloud, they need to understand the importance of safeguarding their confidential and sensitive data in cloud environments. Enterprises must protect their data from (i) system administrators who don't need to see the data in the clear and (ii) adversaries who become system administrators from stolen credentials. In short, enterprises must take control of their data: The best way to do this is by using advanced encryption, centralized key management and...
The industrial software market has treated data with the mentality of “collect everything now, worry about how to use it later.” We now find ourselves buried in data, with the pervasive connectivity of the (Industrial) Internet of Things only piling on more numbers. There’s too much data and not enough information. In his session at @ThingsExpo, Bob Gates, Global Marketing Director, GE’s Intelligent Platforms business, to discuss how realizing the power of IoT, software developers are now focu...
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
SYS-CON Events announced today that Liaison Technologies, a leading provider of data management and integration cloud services and solutions, has been named "Silver Sponsor" of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York, NY. Liaison Technologies is a recognized market leader in providing cloud-enabled data integration and data management solutions to break down complex information barriers, enabling enterprises to make sm...
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, will explain the best practices of continuous testing at high scale, which is r...
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...