Sotheby's has reported a 22% increase in sales in H1 to $3.5bn, largely attributed to record sales in Asia and demand from Asian buyers elsewhere. Asian customers accounted for 28% of Sotheby's auction sales in H1 and bought eight of the top 20 lots sold at the auction house. The strong performance was driven by an 11% rise in Hong Kong sales, which were up 19% on last year, while Chinese purchases rose 13%. Online sales grew 30% year on year to $100m in H1, with online bidders accounting for 45% of total bids. Meanwhile, rival Christie's reported H1 sales of $4bn in July, up 35% year on year.
Sotheby's has reported a 22% increase in sales in H1 to $3.5bn, largely attributed to record sales in Asia and demand from Asian buyers elsewhere. Asian customers accounted for 28% of Sotheby's auction sales in H1 and bought eight of the top 20 lots sold at the auction house. Furthermore, 28% of buyers were new to Sotheby's Asia in H1. Online sales grew 30% year on year to $100m in H1, with online bidders accounting for 45% of total bids. Meanwhile, rival Christie's reported H1 sales of $4bn in July, up 35% year on year.