Welcome!

Wearables Authors: Derek Weeks, Liz McMillan, Pat Romanski, Carmen Gonzalez, Elizabeth White

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
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
"Tintri was started in 2008 with the express purpose of building a storage appliance that is ideal for virtualized environments. We support a lot of different hypervisor platforms from VMware to OpenStack to Hyper-V," explained Dan Florea, Director of Product Management at Tintri, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it m...
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus o...
Big Data engines are powering a lot of service businesses right now. Data is collected from users from wearable technologies, web behaviors, purchase behavior as well as several arbitrary data points we’d never think of. The demand for faster and bigger engines to crunch and serve up the data to services is growing exponentially. You see a LOT of correlation between “Cloud” and “Big Data” but on Big Data and “Hybrid,” where hybrid hosting is the sanest approach to the Big Data Infrastructure pro...
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud enviro...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
"LinearHub provides smart video conferencing, which is the Roundee service, and we archive all the video conferences and we also provide the transcript," stated Sunghyuk Kim, CEO of LinearHub, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Discover top technologies and tools all under one roof at April 24–28, 2017, at the Westin San Diego in San Diego, CA. Explore the Mobile Dev + Test and IoT Dev + Test Expo and enjoy all of these unique opportunities: The latest solutions, technologies, and tools in mobile or IoT software development and testing. Meet one-on-one with representatives from some of today's most innovative organizations
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and E...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.