Sotheby’s auction house hails record sales in 2021

Sotheby’s said in a statement it has already auctioned $ 6 billion this year.

Dave Rushen / SOPA Images / LightRocket via Getty Imag

Sotheby’s auction house said on Wednesday it had recorded record annual sales of $ 7.3 billion in 2021 as the art market rebounded from the pandemic.

Sotheby’s said in a statement it has already auctioned $ 6 billion this year, up 71% from 2020, with 20 auctions remaining.

He made another $ 1.3 billion in private sales.

Sotheby’s added that its consolidated sales to date of $ 7.3 billion were “the highest total” in the company’s 277-year history.

Sales were driven by Asian buyers, new collectors and the world’s most expensive Macklowe collection on the market.

Asian collectors accounted for 46% of the bids and purchases of lots over $ 5 million.

Sotheby’s said the purchase of “Le Nez” by Alberto Giacometti by cryptocurrency entrepreneur Justin Sun for $ 78.4 million symbolized “an influx of younger, tech-savvy collectors.”

The first part of an art collection owned by New York real estate developer Harry Macklowe and his ex-wife Linda Burg that went on sale after their bitter divorce grossed $ 676 million last month.

Non-fungible tokens (NFTs), unique digital objects that confer ownership through blockchain technology, have contributed nearly $ 100 million.

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