January 2021 saw a modest increase of 0.41% in the Pi-eX Auction Market Index (Pi-eX AMI) vs previous month, from US$7.291b in December 2020 to US$7.320b in January 2021.
- The small growth in the Pi-eX AMI in January reflects a 24% growth of the combined monthly revenue at Christie’s, Sotheby’s and Phillips in January 2021 year on year.
- Most of the growth can be attributed to the January Old Masters sales in New York, while other sales showed disappointing revenues.
- Results by auction house varied significantly.
- Online sales continued to represent the largest share of the offering at auctions in January 2021, but revenue from these auctions remains much smaller than from live auctions.
More information: Pi-eX Auction Market Index (Pi-eX AMI)