The two largest auction houses — Christie’s and Sotheby’s — reported solid first-half performances on Monday, the result of a re-energized art market.
Christie’s art sales grew 12 percent to eclipse $4.5 billion, while Sotheby’s said it auctioned off $3.1 billion in art during the first half of the year, up 22 percent.
Christie’s said it sold 51 works for more than $10 million a piece in the first half of the year, including the “Black Fire I” (1961) by John Newman, which sold for $84.16 million, and Picasso’s “Portrait de femme (Dora Maar),” which went for $22.6 million, including commissions.
At Big Apple-based Sotheby’s, which is set to release its consolidated results in August, first-half highlights included the sale of Monet’s “Nympheas” for $54 million.