Industry data

TOTAL exports outside the European Union of art and antiques from the UK remained static in 2007, while total imports rose by seven per cent. However, the details show a more dramatic picture in some sectors, indicating, perhaps above all, the effect of the weak dollar against the pound.

SOTHEBY’S dependence on the contemporary art market could hardly be clearer than in their latest set of figures.

CHRISTIE’S have announced sales of £1.8bn ($3.5bn) for the first half of 2008, a ten per cent increase on the same period last year.

The second quarterly survey conducted by the Royal Institute of Chartered Surveyors made gloomy reading for those engaged in the trade of traditional art and antiques.

A NEW detailed survey of online art market information services concludes that they have a long way to go to be able to provide reliable information for art investors.

CONTEMPORARY art may still be heading skywards, but the imminent buyer’s premium rate increases – and Sotheby’s latest set of results – show that pressure at the margins is as intense as ever.

The art and antiques business received some welcome positive publicity last week as a raft of national newspapers picked up on the headline findings of the first RICS Art & Antiques Market Survey.

SOTHEBY’S have closed the gap between themselves and Christie’s on worldwide sales in 2007, announcing a record $6.2bn of consoldiated sales to Christie’s $6.3bn.

THE price of precious metals surged last week as markets across the world continued to react to the high price of oil and the weak dollar.

Spink, the specialist London coin and stamp auctioneers, have announced auction revenues of £23.8m including premium for 2007.

PHILLIPS de Pury more than doubled their auction sales total thanks to the booming market for contemporary art and their increasing presence in London.

THE effect of their new salerooms in Rome and New York saw London book specialists Bloomsbury Auctions post a hammer total of £20.4m for 2007.

CHRISTIE’S have maintained their lead over their rivals in wine sales thanks mainly to strong totals posted in Europe.

The results of the 2007 LAPADA membership survey broadly suggest a steady market throughout the previous year. Forty per cent of respondents reported a similar turnover to 2006 and 48 per cent expected it to be about the same in 2008.

SOTHEBY’S have released interim headline sales figures for 2007, which show worldwide auction totals up 44 per cent on 2006 at $5.4bn.

Inertia characterised the Antiques Collectors’ Club’s annual Antique Furniture Index in 2007, giving weight to the impression that antique furniture prices have now bottomed out.

Christie’s have confirmed their position as the art market’s biggest business, announcing 2007 premium inclusive sales of £3.1bn ($6.3bn).

‘Best ever’ year with $600m global sales

Prize lots boost smaller salerooms