Christie's 2012 results show rising interest in collectibles



2015-06-26 13:08:09

Christie's 2012 results show rising interest in collectibles

Christie's 2012 results reveal a swathe of new customers, as global appeal for collectibles increases

According to freshly released resultsfrom Christie's, more people than ever before are being attracted to collectibles, with a sharp increase in the average number of registered bidders seen at the auction house.

That figure is up 53% on the numbers seen a decade ago, with 19% of all registered bidders being new clients in 2012.

Panini Campidolglio painting Christie's is expecting more top sales at Old Masters Week in New York this month, led by this Panini masterpiece

This increase can be linked to the recent Millionaire Corner report that showed some 20% of millionaires in the US cite collectibles as the most popular form of alternative investment, and are now realising the sector's potential for strong returns.

2012 was a good year for Christie's overall, with worldwide sales up 10% on 2011's figure at 3.9bn ($6.2bn) - the highest annual total ever seen by both the company and the overall art market.

And it is not just the high-end works that are being purchased by collectors; Christie's South Kensington showroom generally offers items under 1,000 ($1,590)and has seen it's highest ever total for the third consecutive year. It has also experienced a 10% increase in registered bidders, as well asa 20% rise in total sales.

"As the desire for collecting continues to grow, we are pleased to have welcomed new clients into the market. This trend is apparent at every level of the art market, from under 1,000 to over 50 million," commented Christie's chief executive officer, Stephen P Murphy.

Considering joining the thriving market for collectibles? See Paul Fraser Collectibles' top collectible investments for 2013.

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