After a strong run in 2017 and 2018, combined auction revenue at Christie's, Sotheby's and Phillips decreased in 2019 versus 2018.
Combined annual revenue from auctions in 2019 at Christie’s, Sotheby’s and Phillips declined 15% YoY from US$12.2b in 2018 to US$10.4b in 2019.
This did not come as a surprise, as revenue from auctions decreased YoY in each quarter of 2019.
- in the First Quarter of 2019
- in the important Second Quarter of 2019
- in the Third Quarter of 2019
- in the most important Fourth Quarter of 2019: