Sotheby's announced record sales figures in the first half of 2011

[Santa]

Sotheby's has announced results for the second quarter and first half, which ended June 30, 2011. For the three and six months net profit of Sotheby's, when compared with the previous year, increased by 48%and 54%to 127.2 million and 129.7 million dollars, sootvetstvenno.Takoe increase was made possible mainly because of for much higher income from commissions, despite the decline in auction commission of 2%to 16.4%from 18.7%in the first quarter of 2010 and from 18.3%in the first half of 2010. The course of the increased competitiveness has led to a decrease in commission, but Sotheby's managed to reach a record $ 3.4 billion in the first half of 2011.

The net profit (compared to the same period in 2010) is somewhat spoiled 28 percent, ie, 39.4 million dollars, an increase in operating expenses in the second quarter and 23 per cent, ie 54.1 million dollars, an increase of all the first half of 2011. These funds went primarily to the increase in salaries and associated costs, which again testifies to the strengthening of the financial situation of Sotheby's. In the second quarter general and administrative expenses increased by 7.9 million (24%), and in the first half - to $ 9.8 million (15%). Mainly because of higher costs of consultation for the development of strategic initiatives Sotheby's. His contribution made jumps and the market rates, which led to losses in exchange.

Читать дальше... 

"This is the best financial quarter in the history of Sotheby's - said Bill Ruprecht (Bill Ruprecht), president and CEO of the auction house. - Now the great works of art are of great interest to collectors from all over the world ". Today, Sotheby's performance, including net income, are at an incredibly high level. And the opening of traditional and new market segments continues.

Mr Ruprecht said: "A record total sales figure for the first half (growth rate - 44%) was caused by increased activity of buyers and sellers in China, as well as a significant increase in sales at auction each of the four major centers. Private auctions are for the first half scored 114%, also contributed to these outstanding results. When I examine these neryadovye for our business six months, I have come to the conclusion that the general interest in art continues to be one of the few constants in a long time of economic uncertainty. "

"Delicious autumn season is beginning to take shape, our customers all over the world can expect this fall, a number of beautiful and lots of auctions at Sotheby's," - concluded Ruprecht.
 
Auctions in the second and third quarter

The share of Sotheby's in London had a few dizzy moments. An exceptional auction of contemporary art has exceeded all estimates, and offered $ 174 million for the sale and 206 million dollars per episode. Almost $ 100 million made in this figure notorious collection of Durkheim. A series of auctions of Impressionist and modern art brought into the treasury of 181 million dollars, which is consistent with the preliminary assessment. Then there was the highest price reached at the London Impressionists week: a $ 40 million was sold landscape "Houses with beautiful laundry (Suburban II)» (Hauser mit bunter Waesche (Vorstadt II)) Igona Schiele, dating back to 1914, almost double the previous record of the artist.

Auction of Old Masters and British paintings in July reached 76.5 million digits. At the auction has been set the second-largest price for the work of old masters. It goes on sale "in Venice - view from the Rialto Bridge and look north" from the Fondamenta del Carbon, sold for 42.9 million dollars. Only once such a record was set at an auction of old masters. The record for a painting of the twentieth century began trading in the sale of the collection Evilla and Frost (69.4 million dollars), and for Czech modern art - for sale Hasco 18 million. It was the pearl of the London season.
 
Upcoming auctions

The auction of Chinese works of art in New York, which will be held on September 14 will mark a rare and spectacular ancient bronze ritual vessel (Hu), dating from the end of the Han dynasty - beginning of Western Zhou Dynasty, that is, XI-X century BC Remarkably, this vessel of its complex origins and engraving. In general, according to preliminary data, the auction is estimated at 20-28 million dollars.

Already September 15 held an auction of South Asian art, in which the lot will be put in the form of Indian miniatures were estimated to cost 2.5 to $ 3.6 million, as well as significant fabric of the leading artists of our 1960-1970s.

The Hong Kong branch of Sotheby's autumn auction will be carried out from 1 to 6 October. The highlight of the auction, pearl and jadeite items will ring Golconda, inlaid with clear and pink diamonds weighing 9.27 carats (according to preliminary estimates it will cost 13-19 million dollars). The second part of the collection of monumental Chinese art in Europe (Meyintyan) will be put up for sale this season. At the auction will be presented to the outstanding items from the imperial Chinese porcelain dating from the early fifteenth-eighteenth century. Among them - the incredibly rare blue and white vase decorated with fruit (Meypin, Ming Dynasty, Yongle era) and peach vase (Qing Dynasty, the era of Tsyanlun), each of which is estimated at 10-13 million dollars.

From 18 to 21 October in New York, Sotheby's will offer the second auction, which will be a collection of Lily and Edmond Safra, J.. Amazing European furniture and works of art, Russian art, silver, covers and murals of the 19th century - all lots of the auction estimated at more than $ 40 million.

Evening trading on November 2, which will be exhibited paintings of Impressionist and modern painting, scenery revive the famous Gustav Klimt "Littslberg on Attersee» (Litzlberg am Attersee). Painting valued at more than $ 25 million. If it is sold for that amount, then take the second place after the landscape "Church in Cassone" gone under the hammer at London auction in February 2010 for 43.2 million dollars.

In cooperation with the organizer of the auction PIASA, 26 and 27 October in Paris, Sotheby's will offer works from the gallery Fabius Freres. Pieces of furniture, 400 sculptures, works of art, paintings and paintings of the nineteenth century, will be sold, according to preliminary estimates, over 14.5 million dollars. Admire them will be in the Galerie Charpentier, where works of art will be exhibited for five days before the start of trading.

Annual exhibition and sale of monumental sculpture, «Beyond Limits», under the aegis of the Count and Countess of Devonshire. It will be open to the public from September 16 to October 30. This will be the sixth year of the «Beyond Limits». At this time there will be submitted to the installation by artists such as Fernand Leger, Rene Magritte, Nadim Karam, Takashi Murakami, and William Turnbull.