Looking at the past 12 month to get a sense of the direction of the art market
Posted by Pi-eX Research on 23rd Jun 2020
Pi-eX's latest 12 month rolling report issued end of May 2020 shows that combined revenue at Christie's, Sotheby's and Phillips public auctions over the past 12 months was 41% less than the revenue achieved over the same period a year before (from over $11 billion to about $6.5 billion).
This shows the major impact of the coronavirus pandemic on auction sales, especially over the months of April and May 2020 when monthly sales decreased by more than 90%.
Pi-eX 12 months rolling reports are similar to yearly reports as they cover a full year period but rather than starting on January 1st and ending on December 31st, they cover a rolling 12 month period as of the end of a selected month.
Pi-eX latest 12 month rolling report issued at the end of May 2020 shows results at the top 3 auction houses over the previous 12 month period ie from the first day of June 2019 to the last day of May 2020 and compares this 12 month period results to results in the same period in the years before.
Pi-eX 12 month rolling reports provide thus the best on-going barometer of results at the top 3 auction houses