Christie’s reports on accelerated shift to online sales

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Christie’s has reported an accelerated shift to online sales with a 41% increase in luxury lots sold in online auctions82% increase in the number of luxury online sales, and a 205% increase in the value of online luxury sales YoY.

  • New heights have been realized for online luxury sales with records set for a jewel sold online, handbag sold online, and watch sold online at Christie’s. Record online sale totals have also been achieved across all categories.
  • Traditional auctions were held in adapted formats including live-hybrid auctions with increased online bidding through Christie’s LIVE.
  • Comment from Aline Sylla-Walbaum, Christie’s Global Managing Director, Luxury: “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. The one thing that I will take from this year, is the immense trust of our traditional and new client (+40%) base in 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.”
  • JEWELS:
    • Throughout 2020, 48 lots sold over $1m and global jewelry sales achieved an overall sell-through of 84%.

     

    • There was global participation with bidders hailing from 74 countries and a meaningful reach to new audiences with 32% new buyers.

     

    • Online sales were at an all-time high with 143% increase in the amount of online sales; 38% increase in lots sold online; and a 241% increase in the value of online jewels sales YoY.

    Christie's

  • Image of spectacular diamond ring of 28.86 carats courtesy of Christie’s