2021: Historic Year In Review

Sotheby’s YTD Consolidated Sales Stand at $7.3 billion The Strongest Total in Company’s 277 Year History

With over 20 auctions still to go, Sotheby’s running total for 2021 auctions currently stands at $6 billion – 26% up on 2019, 71% up on 2020

New York, December 15 2021: Sotheby’s is proud to report a record year in the company’s history, driven by strength and depth of demand and an influx of new collectors, and powered by rapid expansion of offerings and platforms.

With more than 20 sales still to go, Sotheby’s standout year to date results include consolidated sales at $7.3 billion with auctions running total at $6 billion and private sales achieving $1.3 billion, as auctions rebound and clients respond to a seamless digital and physical experience.

New sale formats and categories attracted a wider audience of participants (a record number of bidders joined in Sotheby’s sales, with 44% them new to Sotheby’s) and a rise in quality works coming to the market is meeting strong demand from new and established collectors.

Notable achievements underlying these historic results include a number of new benchmarks established across regions and categories, including a record year in Asia, a record year for global sales of Modern and Contemporary art, and a record year for Luxury with Watches, Wine & Spirits, Design and Books & Manuscripts each achieving all-time highs for annual auction totals. Additionally, the arrival of new categories such as streetwear and NFTs have further expanded Sotheby’s audience to a new demographic of collectors.

Art Market Reaches New Highs

Growth in wealth corresponds with growth in demand for emerging artists, as collectors discover new talent in addition to acquiring blue chip works which are selling at new highs:
Volume of transactions from $5-50 million increased by two thirds: from 91 in 2020 to 158 in 2021
Works sold for over $10 million in twelve different categories including, Asian Art, Contemporary, Modern, Latin American Art, Old Masters, Watches, Jewels, Books & Manuscripts, and NFTs, with more works sold for over $15 million than in any other year
125 plus records made for leading artists in Sotheby’s marquee sales, with hundreds more set across all categories and platforms throughout the year
A record year for Modern and Contemporary art, with sales of $4.3 billion across auction and private sale channels, including:
New sale formats seamlessly integrating Impressionist, Modern and Contemporary masterpieces, building on the success of the integrated sale categories in London’s 2020 flagship sales
New auction, “The Now”, featuring masters of today and those of tomorrow, resulting in a white glove sale, and drawing broad audiences online and in person, outstripping estimates with deep, vigorous competition for the vast majority of works
Auction sales of Old Masters at Sotheby’s together realized the highest yearly total in a decade