China becomes the second market for public auctions at Christie's, Sotheby's and Phillips - ahead of the UK

China becomes the second market for public auctions at Christie's, Sotheby's and Phillips - ahead of the UK

Posted by Pi-eX Research on 28th Jan 2021

In 2020, combined annual revenue from public auctions at Christie's, Sotheby's and Phillips in China reached 1.71 billion USD, just above revenue from public auctions in the United Kingdom (1.67 billion USD).

While revenue from China has not becomrshown strong growth over the past few years, it is rather the decline of public auction revenue in the UK that has brought the two regions on par.

If China continues to be ahead in the Coronavirus pandemic recovery phase, we can expect revenue from China in 2021 to grow faster than revenue from the UK.


Source:

Pi-eX 2020 Annual Report summary

Pi-eX 2020 Annual MACRO Reports per location