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Published: March 4, 2012
In 2011 Sotheby's overtook Christie's sales
The total sales of auction house Sotheby's up to 2011 was 5.8 billion dollars, 100 million more than the corresponding figure Christie's. Sotheby's Financial Report for the last year, as well as for the fourth quarter of 2011 published on the official website of the auction.
The company's profit for the 12 months of last year reached 171.4 million dollars, which is higher than that of 2010 by 7 percent. Sotheby's revenue from private sales totaled 814.6 million (an increase compared to 2010 is fixed at 65 per cent), which is also more than the Christie's, whose revenue from private transactions reached 808.6 million dollars.
The report notes that in 2011, Sotheby's reached one of the best results in its history - the financial results were better than the auction house only in 2007, before the crisis. This result, in particular, contributed to the activity in Asian markets, where sales amounted to a total of about $ 1 billion.
Christie's also explained the financial growth in demand for contemporary art. Both auction houses in the last year have sold works by contemporary authors on the $ 1.7 billion.
By AnnaDanko,
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