Welcome!

Wearables Authors: Liz McMillan, XebiaLabs Blog, Pat Romanski, Stackify Blog, Jason Bloomberg

News Feed Item

Christie’s Announces New $20 Million Investment as Digital Engagement Drives Growth in the Art Market

Christie’s Chief Executive Officer, Steven P. Murphy, used a keynote dialogue on the Main Stage at Atlantic Ideas Live in New York City today to announce the decision to make a future investment in the region of $20 million in Christie’s technological and digital advancement including infrastructure improvements, enhanced client-service experience and creative-content and media-driven endeavours.

The global audience for art is increasing, museum attendance has increased again and the art market is continuing to grow. This is in part driven by digital accessibility of art and imagery”, Steven Murphy commented. “Over the next two weeks, Christie’s hosts key sales in the Americas and we will be offering masterpieces such as Monet’s Nymphéas and Bacon’s Three Studies of John Edward alongside online-only sales of Picasso Ceramics and works by Alexander Calder. We want to invite more people to join in and participate in collecting. Not long ago, our New York sales catalogue would be viewed by a few thousand catalogue subscribers four weeks before the sale –– now more than a million visitors view the works online. This online accessibility combined with ever increasing visitor numbers to our public exhibitions has shifted the dynamic. This has also fundamentally impacted the value of the original object itself, as the experience of standing in front of the picture and owning it has become even more powerful.”

In data released today, Christie’s confirms that 48% of all client registrations are now facilitated digitally. In 2013, 45% of buyers in online-only sales were new to Christie’s, with many sales seeing over 50% new client activity. Findings from online-only sales reveal that one in five buyers is under the age of 45 and visitors to christies.com came from 185 countries and numbered 20 million in 2013, 19% year on year growth, with mobile views increasing 42% during the year.

The span of the price of works of art sold online has included over 16 works sold for over $1 million through Christie’s LIVE to works of art selling for $2,500 and above. The average lot sold online is $10,000. The most popular categories to date have been the sales of Post-War and Contemporary work, led by the innovative partnership with the Andy Warhol Foundation, as well as highly successful sales of Picasso Ceramics, Chinese work of art, Luxury items including Wine and Jewelry and other categories including the fast growing area of Prints. To date, Christie’s has offered nine sales in conjunction with the Andy Warhol Foundation on our eCommerce platform, with the average lot selling for nearly $11,000 and with 14% of lots selling for over $20,000.

Today’s announcement of ongoing investment will lead to further improvements in the client service experience as well as content and media development. In the morning session facilitated by Quartz editor, Kevin Delaney, Mr. Murphy continued: “Digital is changing the way all companies operate, as well as increasingly affecting and influencing all of us in our daily lives. Internally in a company, as well as externally in how we communicate with and serve clients, digital creates efficiencies, leads to better and more productive relationships and for us, works to help better connect individuals and art works. We are investing across the board, from infrastructure improvements to creative, content driven endeavours.”

Notes to Editors:

Christie’s has already made significant investment in digital operations. In 2006, Christie’s was the first art business to launch online participation in live auctions and has seen an increase of 48% in the volume of lots purchased via its Christie’s LIVETM platform over the last 5 years. In 2011, Christie’s staged the Elizabeth Taylor collection to launch it’s eCommerce platform and to date has held seventy online art auctions.

Top 10 LIVE Lots in all time (2006-2013)

  1. October on Cape Cod – Edward Hopper (American Art, Nov 2012): $9,602,500
  2. An Important & Rare Bronze Wine Vessel & Cover, Fangyi (The Sze Yuan Tang Archaic Bronzes from The Anthony Hardy Collection, Sep 2010): $3,330,500
  3. 09.05.61 – Zao Wou-Ki (Asian 20th Century & Contemporary Art Evening Sale, May 2013): $1,712,478
  4. An Important Diamond Line Necklace (New York Magnificent Jewels, Oct 2011): $1,426,500
  5. Femme Debout, La Tête Nue - Georges Seurat (Pierre Berès À Livre Ouvert, Dec 2012): $1,406,842
  6. Dans Un Parc – Georges Seurat (Pierre Berès À Livre Ouvert, Dec 2012): $1,333,418
  7. Allo, Amélie - Joan Mitchell (Post-War & Contemporary Art Morning Session, May 2012): $1,314,5000
  8. A lawyer seated at a table reading a letter – Adriaen Jansz. van Ostade (Old Master & British Paintings Evening Sale, Dec 2011): $1,287,390
  9. A Violin, Known as the Penny, Cremona, Circa 1700 – Antonio Stradivari (Fine Musical Instruments, Apr 2008): $1,273,000
  10. A Bronze Figure of Shiva Vinadhara Dakshinamurti (Indian & Southeast Asian Art, Mar 2013): $1,203,750

Top 10 eComm lots ever sold (online only)

  1. An Apple®-1 Personal Computer (First Bytes, Jul 2013): $387,750
  2. I-95 – Richard Serra (Online: Post-War & Contemporary, Nov 2013): $197,000
  3. Untitled – John McCracken (Online: Post-War & Contemporary, Nov 2013): $149,000
  4. The World is Not Enough – BMW z8 kit car (50 Years of James Bond, Oct 2012): $132,720
  5. Casino Royale – One and Only Club poker table, card and chips (50 Years of James Bond, Oct 2012): $132,720
  6. A Vert Irlandais Alligator ‘Passe-Guide Ireland’ Bag (Hermès: Four One-of-a-Kind Passe-Guide Bags, May 2012): $125,215
  7. Untitled – Jean-Michel Basquiat (Online: Post-War & Contemporary, Nov 2013): $118,750
  8. I Love Your Kiss Forever Forever (see F. & S. II.5) – Andy Warhol (Warhol @ Christie’s, Mar 2013): $112,500
  9. Portrait of Elizabeth Taylor – Hiro Yamagata (The Collection of Elizabeth Taylor, Dec 2011): $108,000
  10. A M – Edward Ruscha (Online: Post-War & Contemporary, Nov 2013): $106,250

PRESS CONTACT: Jennifer Ferguson | +1 212 636 2680 | [email protected]

Please click here for the complete eCatalogue.

About Christie’s

Christie’s, the world's leading art business, had global auction and private sales in 2013 that totaled £4.5 billion/ $7.1 billion, making it the highest annual total in Christie’s history. Christie’s is a name and place that speaks of extraordinary art, unparalleled service and expertise, as well as international glamour. Founded in 1766 by James Christie, Christie's has since conducted the greatest and most celebrated auctions through the centuries providing a popular showcase for the unique and the beautiful. Christie’s offers around 450 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie's also has a long and successful history conducting private sales for its clients in all categories, with emphasis on Post-War & Contemporary, Impressionist & Modern, Old Masters and Jewellery. Private sales totaled £760.5 million ($1.19 billion) in 2013, an increase of 20% on the previous year.

Christie’s has a global presence with 53 offices in 32 countries and 12 salerooms around the world including in London, New York, Paris, Geneva, Milan, Amsterdam, Dubai, Zürich, Hong Kong, Shanghai, and Mumbai. More recently, Christie’s has led the market with expanded initiatives in growth markets such as Russia, China, India and the United Arab Emirates, with successful sales and exhibitions in Beijing, Mumbai and Dubai.

*Estimates do not include buyer’s premium. Sales totals are hammer price plus buyer’s premium and do not reflect costs, financing fees or application of buyer’s or seller’s credits.

Images available on request

FOLLOW CHRISTIE’S ON:

Pinterest
Facebook
Twitter
Instagram
Tumblr
YouTube
Weibo

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
SYS-CON Events announced today that Secure Channels, a cybersecurity firm, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Secure Channels, Inc. offers several products and solutions to its many clients, helping them protect critical data from being compromised and access to computer networks from the unauthorized. The company develops comprehensive data encryption security strategie...
From 2013, NTT Communications has been providing cPaaS service, SkyWay. Its customer’s expectations for leveraging WebRTC technology are not only typical real-time communication use cases such as Web conference, remote education, but also IoT use cases such as remote camera monitoring, smart-glass, and robotic. Because of this, NTT Communications has numerous IoT business use-cases that its customers are developing on top of PaaS. WebRTC will lead IoT businesses to be more innovative and address...
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
SYS-CON Events announced today that App2Cloud will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. App2Cloud is an online Platform, specializing in migrating legacy applications to any Cloud Providers (AWS, Azure, Google Cloud).
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, shared examples from a wide range of industries – including en...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. Jack Norris reviews best practices to show how companies develop, deploy, and dynamically update these applications and how this data-first...
Intelligent Automation is now one of the key business imperatives for CIOs and CISOs impacting all areas of business today. In his session at 21st Cloud Expo, Brian Boeggeman, VP Alliances & Partnerships at Ayehu, will talk about how business value is created and delivered through intelligent automation to today’s enterprises. The open ecosystem platform approach toward Intelligent Automation that Ayehu delivers to the market is core to enabling the creation of the self-driving enterprise.
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Consumers increasingly expect their electronic "things" to be connected to smart phones, tablets and the Internet. When that thing happens to be a medical device, the risks and benefits of connectivity must be carefully weighed. Once the decision is made that connecting the device is beneficial, medical device manufacturers must design their products to maintain patient safety and prevent compromised personal health information in the face of cybersecurity threats. In his session at @ThingsExpo...
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
Detecting internal user threats in the Big Data eco-system is challenging and cumbersome. Many organizations monitor internal usage of the Big Data eco-system using a set of alerts. This is not a scalable process given the increase in the number of alerts with the accelerating growth in data volume and user base. Organizations are increasingly leveraging machine learning to monitor only those data elements that are sensitive and critical, autonomously establish monitoring policies, and to detect...
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution and join Akvelon expert and IoT industry leader, Sergey Grebnov, in his session at @ThingsExpo, for an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
Because IoT devices are deployed in mission-critical environments more than ever before, it’s increasingly imperative they be truly smart. IoT sensors simply stockpiling data isn’t useful. IoT must be artificially and naturally intelligent in order to provide more value In his session at @ThingsExpo, John Crupi, Vice President and Engineering System Architect at Greenwave Systems, will discuss how IoT artificial intelligence (AI) can be carried out via edge analytics and machine learning techn...
In the enterprise today, connected IoT devices are everywhere – both inside and outside corporate environments. The need to identify, manage, control and secure a quickly growing web of connections and outside devices is making the already challenging task of security even more important, and onerous. In his session at @ThingsExpo, Rich Boyer, CISO and Chief Architect for Security at NTT i3, discussed new ways of thinking and the approaches needed to address the emerging challenges of security i...
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
SYS-CON Events announced today that GrapeUp, the leading provider of rapid product development at the speed of business, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market acr...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business - from apparel to energy - is being rewritten by software. From planning to development to management to security, CA creates software that fuels transformation for companies in the applic...