There has been an accelerated shift to online sales with a 41% increase in luxury lots sold in online auctions; 82% increase in the number of luxury online sales, and a 205% increase in the value of online luxury sales YoY, Christie says.
New heights have been realized for online luxury sales with records set for a jewel sold online, handbag sold online, and watch sold online at Christie’s. Record online sale totals have also been achieved across all categories.
Traditional auctions were held in adapted formats including live-hybrid auctions with increased online bidding through Christie’s LIVE.
Luxury categories have also dedicated resources to charity auctions or collections with philanthropic components. Throughout 2020, collectively over $20 million was achieved in charitable sales or collections.
Throughout 2020, 48 lots sold over $1m and global jewelry sales achieved an overall sell-through of 84%.
There was global participation with bidders hailing from 74 countries and a meaningful reach to new audiences with 32% new buyers.
Online sales were at an all-time high with 143% increase in the amount of online sales; 38% increase in lots sold online; and a 241% increase in the value of online jewels sales YoY.
In June 2020, Christie’s established the record for a jewel sold in an online auction with a 28.86 Carat, D Color Diamond, achieving $2,115,000.
The top lot for Christie’s Jewels for the year was a fancy intense blue, marquise-cut, internally flawless, diamond ring of 12.11 carats, which sold in Hong Kong in July for $15,870,815.
In the November Geneva Magnificent Jewels sale, a new auction record price per carat was established for a fancy purplish-red diamond, set into a ring by Graff. The 1.05 carat stone sold for CHF2,760,000, translating into price per carat at $2,640,000.
In the December New York Magnificent Jewels sale, the top lot of the sale was an extraordinary Kashmir sapphire and diamond bracelet of 43.10 carats surrounded by D color internally flawless diamonds that was purchased for $6,030,000 by Harry Winston to add to their Legacy Collection.
Throughout 2020, 11 records were set for references and 5 watches were sold over $1million.
Across the watches sales from Dubai, to New York, Hong Kong and Geneva in 2020 a total of 2,386 unique timepieces were offered to buyers at a very equal share amongst Asia, the US and Europe.
Each sale welcomed new registrations, as much as up to 50% in our New York online sale running from 22 July to 5 August 2020.
There was a major conversion to online sales with a 211% increase in value offered online, and the Christie’s Watches Dept. broke the record for online watches sales x3 times.
Throughout 2020, global Wine sales performed with an overall sell-through of 91%.
There was a shift toward online with a 143% increase in value of lots sold online and a 98% increase in the number of lots sold online YoY.
Throughout 2020, global Handbags sales performed with an overall sell-through of 92%.
There was a shift toward online with 133% increase of online Handbags sales and a 155% increase in value of lots sold online YoY. ■