G L O B A L |  1 9  D E C E M B E R  2 0 2 2

$8.4B IN 2022



Christie’s Adrien Meyer, Co-Chairman of Impressionist and Modern Art, selling Georges Seurat’s
Les Poseuses, Ensemble (Petite version) for USD $149.2 M at Paul G Allen Collection sale on November 9 at Christie’s New York

Guillaume Cerutti, Chief Executive Officer, Christie’s:

“In 2022, despite a challenging macro-environment, Christie’s has achieved our highest ever global sales. Three factors explain this performance: the resilience of the art and luxury markets, the remarkable success of several major art collections— including the unforgettable Paul Allen sale— and the expertise and hard work of our teams around the world.”

Christie’s Key Take-Aways From 2022

  1. Christie’s expert global team delivers highest annual total in art market history
    $8.4B  (+17% in USD) / £7B (+34% in GBP) / HK$68.1B
     (+22% in HK$)
  2. Paul G. Allen’s landmark sale achieved $1.62B to become the most valuable collection sale of all time,
    5 works sold above $100M, thousands of visitors to worldwide tour, 4M online viewers
  3. The most valuable 20th Century artwork was sold by Christie’s in 2022:  Andy Warhol’s
    Shot Sage Blue Marilyn for $195M –  the second highest price ever achieved for an artwork at auction
  4. Christie’s sold 8 of the top ten works at auction in 2022
  5. Christie’s sold the top 3 Collections of 2022, Allen ($1.62B), Ammann ($359.2M), Bass ($363.1M) as well as the top collection sold this year outside of the US, Hubert de Givenchy Collectionneur (€118.1M) in Paris
  6. Superior sell-through rate of 85% for all lots at auction, affirms strong performance for Christie’s clients
  7. Business and competition driven by new generation of collectors: 35% of all buyers in 2022 are new to Christie’s, and 34% of these new buyers are millennials (up from 31% in 2021); APAC has fastest growing base of new collectors
  8. Launch of Christie’s Ventures –  new investment fund to support early-stage Web 3.0, Technology and FinTech companies with direct relevance to Christie’s art and luxury goods business
  9. Private Sales remain at a high level, exceeding the $1.2B (£1B) mark, the 3rd highest consecutive total ever for the platform and up 49% since pre-pandemic levels in 2019 



Total sales:               $8.4B /£7B / HK$68.1B ( +17% USD v 2021 / +34% GBP / +22% in HK$)

Auction sales:          $7.2B / £6Bincluding online-only sales ($363M / £305M)

# Lots sold:               46,322 lots sold at auction in 2022 (vs 43,386 in 2021)

Private Sales:           $1.211B / £1.017B
Sales by Category

Total 2022 global sales by category, including (live and online) auction and private sales:

  • 20/21                                                   $6.219B / £5.226B  (+21% USD / +39% GBP v 2021)
    (Impressionist, Modern, Post-War, Contemporary, Design, Prints, Photography)
  • Luxury                                                 $988M / £830M                (+2% USD / +17% GBP v 2021)
    (Jewellery, Watches, Handbags, Wine)
  • Classics                                                $789M / £663M               (+37% USD / +57% GBP v 2021)
    (Old Masters, Iconic Memorabilia, Antiquities, Decorative Arts)
  • Asian & World Art                            $397M / £334M                (-20% USD / -8% GBP v 2021)
    (Asian, African, Oceanic, Islamic Art)



  • (Mar)           First sale of a pre-1949 Western artwork in China, during the first 20th/21st C: Shanghai to London livestream
    (Kees Van Dongen’s La femme au collier for CNY 23,160,000) during Christie’s inaugural sale at Bund One in Shanghai
  • (May)           Most valuable photograph ever sold at auction – Man Ray’s Violon d’Ingres ($12.4 M)
  • (June)           During the historic €118.1M Hubert de Givenchy sale in Paris, Alberto Giacometti’s La femme qui marche was the
    year’s highest selling lot in France (€27.2M) ) and saw the renewal of the classic decorative art market
  • (Sept)           Premiere of Christie’s 3.0, the first entirely on-chain platform for exceptional NFT art launched by a global auction
    house; with inaugural international auction debut of 18-year-old African-American artist Diana Sinclair
  • (Sept)           First recording of decorative arts on the blockchain:  Provenance Revealed: Galerie Steinitz more than doubled its pre-
    sale estimate, realising total of £6.3M / $7.1M / €7.2M, at Christie’s London
  • (Sept)           To coincide with debut of Frieze Seoul, Christie’s toured a non-selling exhibition, Flesh and Soul: Bacon/Ghenie, to
    the city, continuing to bring top works by leading western artists to the region
  • (Sept)           We enhanced our Middle East operation with two senior appointments, launched an ambitious regional programme of
    events and have since announced the 6th edition of Art + Tech tying in with Art Dubai in 2023
  • (Oct)              Largest cross-category auction highlights preview to be held in Singapore, convening collectors from across the
    Southeast Asia region
  • (Nov)             Live bidding via. WeChat app and Christie’s mobile app and website bidding function launched in Simplified an
    Traditional Chinese
  • (Dec)             First dedicated Lalanne sale in the US achieves highest ever design sale total at Christie’s:  $77.04M
    100% sold, 319% above low estimate, with 18 lots sold above $1M, featuring exceptional works by Claude and
    Francois-Xavier Lalanne from the collection of the daughter Marie Lalanne




There has been a growth in spend at auction from all three buyer regions, matched by an increase in ‘out of market’ bought value. Americas buyers contributed 40% of the total value of global auction sales, EMEA buyers 34% and APAC 26%. Bought value has grown from each of the 3 regional buyer bases; Americas buyers spend is up +55%, EMEA buyer spend up +31% and APAC buyer spend up +10%. APAC bought value is the highest since 2015A reflection of the ongoing international buying at auction, regardless of the location of the sale, spend from American buyers in non-US salerooms is up 10% (with a 28% increase in Geneva sales vs. 2021), EMEA buyers spend is up 71% (most striking in New York, up 78%, as a result of buying in the Allen, Bass and Ammann Collections), APAC buyers spend is up 49% (again up +60% in New York, significantly in the Allen sale, and up 100% in Geneva). Sales growth has been driven by masterpiece lots (works over $5M), with sales at this level up 84% on 2021. There were 3.6 average bidders per lot and the overall lot sell-through rate was 85%, matching the performance achieved last year. New buyers from mainland China continue to engage in our global salerooms, accounting for the highest global spend of new buyers from APAC.



Christie’s continues to achieve the strongest results for its clients with total sales of 117% against the low estimate, across all sold lots. As in 2021, 35% of all buyers in 2022 were new to Christie’s, with 65% entering via online sales and millennials accounting for 34% of all new buyers (up from 31% in 2021). In APAC new buyers increased by 9% attracted by sales of Asian and World Art and most significantly in Luxury (+23%). Luxury remains the #1 recruiter of new clients, accounting for 36% of new buyers, up 18% on 2021. Millennials continue to drive and reshape Christie’s global business, representing 21% of global buyers (vs. 19% in 2021). In our fastest growth categories – PWC, Asian Contemporary, Handbags and Watches – millennials can represent as much as 39% of buyers. Of the spend from millennials, in Christie’s global salerooms in 2022, 62% came from millennials in APAC. In Post-War & Contemporary Art and Contemporary Asian Art and Luxury categories combined, millennials accounted for 30% of buyers and bidders, their spend increasing 127% across the last 5 years (excluding NFT sales in 2021). Millennials are more likely to transact digitally and the business has adapted and innovated accordingly. Christie’s improved digital reach has been complemented by a more diverse offering of artists across our 20/21 sales, the return of Lates in London which draws a new generation of collectors, on TikTok, WeChat, Red and Instagram, meeting and engaging with these clients where they are spending their time. The online platform continues to be our #1 recruiter of new clientsattracting 64% of all new buyers to Christie’s. Just under half of all sales are now held onlineBuyers were up 9% and this growth came from all 3 regions. The value of an average lot sold is $16,500, double the $8,200 five years ago. 75% of bids placed at auction were ‘digital’.



Following a record year in 2021, Private Sales totaled $1.211B / £1.017B in 2022, the 3rd highest consecutive total ever and up 49% since pre-pandemic levels in 2019, demonstrating the continued important contribution of the platform to the business. Growth in Private sales came from a wider group of categories than in previous years, including Decorative Arts (+245%), Old Masters (+43%), Watches (+73%), and Asian Contemporary (+50%). At the top end, transactions between $20-50M are up 14%.



Christie’s Ventures launched in July, a new investment fund supporting the three pillars of this business sector – Web 3.0, FinTech and hardware or software that facilitates the engagement with of art. Initial investments included LayerZero,, and ProtoHologram, coupled with collaborations to use these companies’ tech tools to aid clients in buying and selling. Outside the virtual world, the fifth iteration of the Christie’s Art and Tech Summit was held in July in New York, convening industry-leading talent across fields, with the next edition just announced to appear during Art Dubai. Christie’s remains committed to advancing Digital Art/NFTs as a serious collecting category within Contemporary Art, and following the environmentally beneficial Ethereum blockchain merge in September, launched the first ever fully on-chain platform for a major auction house, Christie’s 3.0.  After two sales on the platform, it is clear buyers are confident to bid and artists keen to sell via this first-of-a-kind digital saleroom. As the market for NFTs continues to be tested amidst the volatility of the broader crypto market, Christie’s sold 87 NFT lots this year across all platforms for a total of $5.9M from artists such as Diana Sinclair, Mad Dog Jones and Fewocious. Top NFT lot of the year was Refik Anadol’s mesmerizing NFT sculpture Living Architecture: Casa Batlló which sold (at live auction) for $1.4M.


Christie’s sold the top three private single-owner collections at auction in 2022:

Other exceptional collections of 2022:  in New York – The Ann & Gordon Getty Collection ($150M) saw all of the 1,500 lots sold across four live and six online auctions;  the Collection of Rosalind Gersten Jacobs and Melvin Jacobs ($42.7M) which included the category-redefining sale of the Man Ray photograph; in Paris, the iconic Hubert de Givenchy: Collectionneur sale (€118.1M), record-setting for decorative arts, re-defining the market for 18th Century French furniture; and the Collection of Henri Matisse’s granddaughter, Jacqueline Matisse Monnier, (€40.5M); in London, the Collection of Lord & Lady Weinstock of decorative arts, old master pictures and jewellery, totalled £8.1M; and the Sina Jina Collectionthe largest collection of contemporary African art and the diaspora, realised a total of £2.9M and set records for many young artists at auction with proceeds for The African Arts Trust; in London and Hong Kong, the ongoing sale series Marc Chagall, Colour of Life, Works Formerly from the Artist’s Estate, to date totalled HK$177.5M / US$22.8M; in Hong Kong three Single-Owner Collections of Chinese works of Art 100% soldThe Chang Wei-Hwa Collection of Archaic Jades Part IV – The Qin and Han Period, Rich Golden Hues and Graceful Forms – Classical Chinese Furniture From The Tseng Collection, and Important 17th Century Porcelain from the Butler Family Collection.



Global Luxury auction sales: $779M / £655M  (+7% USD / +23% in GBP vs. 2021)

Luxury sales (Jewels, Watches, Wine, Bags and accessories) are the major point of entry for newcomers to Christie’s auctions. Global demand for Luxury continues to drive Christie’s online platform, constituting more than half of all lots offered online, a notable shift that began during the pandemic. The average sold price for a Luxury item (excluding wine sales) online in 2022 was $24.5K (vs. $21.4K in 2021), an indication of the confidence of both new and existing clients to bid and buy from  Category highlights mentioned above show in Jewelry: an ongoing interest in large diamonds, both white and coloured, (including the Red Cross Diamond of 205.07 cts, sold for CHF14.2M / $14.2M and first offered by Christie’s in 1918), also for jewels from the 70’s and 80’s. Other highlights were jewels with great provenance, including HK$86.1M / $11.1M sale of jewellery from the legendary actress Rosamund Kwan in Hong Kong and 12 lots by contemporary jeweller JAR, sold from the Getty collection for $5.9M. Private sales was also a very active platform for jewelry with transactions ranging from $100,000 to well over $10m. Watch sales in 2022 reaffirmed the strength of Rolex and Patek Philippe timepieces, with three important private Watch collections offered live and online also recording excellent sell-through rates. Global auction sales for handbags totalled $32.8M, the highest ever for the category. Across Christie’s 10 handbag auctions, live and online, 49% of buyers were new to the category in 2022, with global demand continuing for the rarest Hermès pieces.  In Asia Luxury sales reached HK$2B with a record total for Wine and Spirits and Handbags and a stand-out year for Watches with total sales at HK$500M total, for a second consecutive year, reflecting the outstanding private collections on offer. Private Sales of Watches were up 73%, a reflection of the increased awareness in the bespoke search service offered by Christie’s specialist teams working to source the most precious objects on request for clients.



The Christie’s Fund was established to broaden access to arts education and careers, as well as use our brand, platform and resources to develop and promote emerging artists and encourage greater representation of historically under-represented artists. In 2022 we expanded our partnerships to work with several new programmes. Across Europe, Christie’s worked with Dynamo Art Factory in Italy, and we remain active in our relationships with neuf-3 and La Source in France. In the United Kingdom, Christie’s continues to support Art History Link Up and Change 100, and we set up a new bursary programme for arts students in their first year at university through Manchester Metropolitan University’s First Generation Programme. In Asia, Christie’s partnered with the Beijing Contemporary Art Foundation to offer grants to female young artists, and with Hong Kong University to award its first set of Heart for Art scholarships. In the Americas, the Christie’s Fund underwrote the cost of one artist’s participation in Silver Art Projects’ 2022-23 cohort, sponsored the Leslie-Lohman Museum of Art Fellowship, and hosted the Annual Leadership Series for ArtTable. We funded the Morgan Library & Museum’s Belle da Costa Greene Fellowship, and we have also continued support for Futures and Options, which provides internships at Christie’s and other arts organizations for students from New York City high schools.

Christie’s continued to meet its ambitious sustainability goals in 2022 through the launch of a new sea freight service, with Crozier;  refinements to our packaging materials; shifting to renewable energy tariffs in our buildings; and using hologram technology to virtually tour life-size sculptural works of art. In 2021 and 2022, Christie’s also hosted a global series of philanthropic sales of works donated by contemporary artists to benefit environmental charity ClientEarth, in association with the Gallery Climate Coalition, raising £5.7M ($7.5M). More details in our annual Environmental Impact Report.