Christie’s Posts 10% Growth in Face of Turbulent Markets

January 17th, 2013

Despite contracting markets in Asia and the Middle East, Christie’s International has announced a 10% increase in sales for 2012.  This growth over the previous year was led by the increased interest in post-war art and living artists, as illustrated by Mark Rothko’s “Orange, Red, Yellow” selling for $86.9 million last year.   According to Steven Murphy, Christie’s chief executive: “Existing clients are spending more, and many of our new bidders have previously bought from dealers and art fairs. They like the transparency of auctions.”Read more at Bloomberg