DECRYPTION – In a difficult context, auction proceeds are declining, as in 2023. Everywhere, we are witnessing a contraction in the high-end offering, faced with collectors who are waiting for clearings and are turning to private sales.
The art market predicted it. After the record year of 2022, followed by a decline in 2023, the announced decline is there. Impossible to hide, given the 2024 results of the major auction houses such as Christie's, Sotheby's and Drouot. The context of global slowdown, in a very troubled economic and geopolitical situation, had a direct effect on the auctions. Everywhere, we observe a contraction in supply, at least for major works, with collectors preferring to wait for better days.
This is the big observation of this year 2024. But everything is not totally gloomy. Hope is emerging, with the rise of private sales slowing the fall. A fact highlighted by Christie's, the first to have released its world assessment, on December 17, during a videoconference led by Guillaume Cerutti. Pragmatic, the CEO said to himself « reasonably confident for 2025, the hardest part being behind. Best, the second half…
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