07 Feb 2023
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Christie's achieves USD 205 million in watch sales in 2021
Of the 6’402 registrants from 88 countries in 2021, more than 20% were new buyers/bidders.
By: Diamond World News Service
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Dec 22 2021 10:52AM
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Reference: 26063  

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Christie’s Watches concludes an exceptional year. The resilience shown has been remarkable, while the appetite for the rare, exceptional and desirable timepieces continues to grow and propel a market that Christie’s is uniquely positioned to serve. Of the 6’402 registrants from 88 countries in 2021, more than 20% were new buyers/bidders.

“The Christie’s Watches dashboard as we close 2021 shows a solid progression on pre-covid levels. Who knows how we will look back at this year, but one thing is certain: Our ability to meet its many challenges and continue to achieve strong results, even set new records, comes down to our focus on making Christie’s synonymous with the most exciting and rewarding auction experience for buyers and sellers. Both have dreams, and making them come true is the one true measure for success for all of us at Christie’s” remarks François Curiel, Chairman of Christie’s Europe & Asia, and Chairman of the Luxury Division. “It explains how our network of Watch Specialists consistently attracts spectacular lots and achieves the highest prices, and how we as a team contribute to a positive dynamic through innovation and agility. It is at the core of our ability to shift gears between live and online – and deliver an exceptional 360-degree experience on parallel tracks. This is also true for Asia and the Middle-East where we are maintaining strong growth momentum.”


 
2021 in Key Figures
Total sales (Hammer + BP) on solid growth trajectory
A 20%-plus increase vs. 2019 pre-covid points to a solid growth trajectory, supported by Christie’s 360-degrees strategy with online sales complementary to live auctions for the long term rather than a temporary substitute owing to current developments, combined with an unprecedented level of quality as well as breadth and depth of watches on offer on a global scale, in addition to the increasing and more inclusive buyer and seller demographics. The rise of online sales at the high-end segment for rare and exceptional watches saw a 5-fold increase vs 2019. Where total online sales were up just over 600 percent from 2019 to 2021, the number of online sales had (only) increased by just over 60%.
 
Live sales in 2021 totalled US$ 145,261,956
+292.1% vs 2020 (US$ 49,730,277), +20.4% vs 2019 (US$ 120,659,208)
Online sales in 2021 totalled US$ 59,806,073
+98.8% vs 2020 (US$ 30,091,700), +602.3% vs 2019 (US$ 9,928,410)
Total (live + online) sales for 2021: US$ 205,068,029
+256.9% vs 2020 (US$ 79,821,977), +157% vs 2019 (US$ 130,587,618)

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