Luxury Goods and Art Amplified with @properties Christie’s International Real Estate
Did you know that @properties Christie’s International Real Estate connects clients not only to the area’s finest homes but also to the world’s most coveted artworks and luxury objects? That’s because, as the owner of the Christie’s International Real Estate global brand and network, @properties has a direct relationship with Christie’s the world-leading auction house. So, we are able to offer real estate clients special access to auction, private-sale, and appraisal services. Whether looking to sell or acquire art, jewelry, watches, handbags, rare wines and spirits, furniture or other collectibles, this relationship provides another layer to the services @properties Christie’s International Real Estate clients enjoy.
But even if you’re not in the market for a Warhol, Crocodile Birkin Bag or Rolex Paul Newman, a robust auction market has made for an exciting year to spectate from the sidelines. In fact, much like the luxury housing market, Christie’s enjoyed many record-breaking sales during the first half of 2022. Total auction house sales were up 18 percent vs. the first half of 2021 to $4.1 billion, and Christie’s accounted for seven of the twelve most expensive works sold during this time.
Commanding the largest sales price was Andy Warhol’s Shot Sage Blue Marilyn, which sold on May 9 in New York City for $195 million. The recognizable piece is now the most valuable 20th-century artwork and second most expensive work ever sold at auction.
Enthusiasm for Luxury Goods
Global luxury goods were in high demand with $413.3 million sold, an 18 percent increase from last year. A perennial favorite, timepieces continue to capture the interest of high-end collectors. The Kairos Collection of 128 Patek Philippe watches was 100 percent sold in Geneva, Hong Kong, and New York – resulting in total sales of 183 percent above the low estimate.
Even fine wine coaxed out record-breaking paddle raises with sales in the first half ringing up $57.8 million, a 234 percent increase over the year-earlier period. This included the historic $19.6 million sale of “The Visionary’s Spectacular Cellar” – which ranks as the highest-ever total for the category and most valuable single-owner collection at Christie’s.
A Historic Pipeline
The remainder of 2022 promises continued strong sales with the historic auction from the estate of Microsoft co-founder Paul Allen, scheduled for November. Estimated at over $1 billion, Visionary: The Paul G. Allen Collection will be the largest and most exceptional art auction in history. Proceeds will benefit various charities. Additionally, the Ann & Gordon Getty Collection will be offered for sale through four auctions taking place in October in New York City. The collection features impressionist works by Claude Monet and Edgar Degas, and proceeds will benefit the Ann and Gordon Getty Foundation for the Arts.
Contact your agent for more information and visit Christies.com for a full schedule of upcoming events.