Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Sotheby’s reports near-record $7.9bn in sales as covid sales boost continues

by January 31, 2024
January 31, 2024
Sotheby’s reports near-record $7.9bn in sales as covid sales boost continues

Sotheby’s sold a near-record of almost $8bn (£6.3bn) of art and other collectables last year, including a Pablo Picasso masterpiece of his “golden muse” that fetched $139m.

The auction house, founded in London 280 years ago and now headquartered in New York, announced sales collectively worth $7.9bn in the 2023 calendar year.

That’s almost as much as the record $8bn achieved in 2022, and “40% above 2019 pre-pandemic levels”. The Covid-19 pandemic boosted all auction houses as it led to a concentration of wealth among the already very rich, who, unable to spend money in the real world, turned to collecting and online auctions.

Brooke Lampley, the global chair of Sotheby’s, said 2023 sales were boosted by a series of “extraordinary collections” that came up for auction during the year.

They included the collection of Emily Fisher Landau, one of the greatest art collectors of the 20th century who died in March 2023. The sale of her collection in November 2023 fetched $424.7m, making it the most valuable collection devoted to a female collector. Her 1932 Picasso masterpiece Femme à la montre (Woman with a Watch) sold for $139m, the second highest price ever achieved for the artist.

An auction of items once owned by the Queen frontman Freddie Mercury sold for a total of £39.9m, far more than the £7.6-11.3m estimated by Sotheby’s and making it the highest total for any celebrity sale. The auction in September stretched to more than 30,000 objects that Mercury had bequeathed to his longtime friend Mary Austin.

One of the collection’s smallest items, a Tiffany & Co comb used by Mercury to tame his trademark moustache measuring less than 3 inches long, sold for £152,400 – more than 250 times its original estimate. A stained Adidas shoulder bag that belonged to the singer sold for £10,800, far more than its £150 estimate.

“These collections are not just accumulations of objects, but true stories and legacies, testament to the remarkable spirit and vision of each collector,” Lampley said. “The lion’s share of these great single-owner sales are coming to the market as they pass from one generation to another. This next generation are embarking on their own collecting careers – making for exciting conversations as we look to support their journey, now and in the future.”

Read more:
Sotheby’s reports near-record $7.9bn in sales as covid sales boost continues

0
FacebookTwitterGoogle +Pinterest
previous post
Scrapping VAT-free shopping for tourists costs UK £11bn
next post
To Head Off Strongman Governance, Keep Presidential Power in Check

You may also like

Elon Musk Criticises US Tariffs on Chinese Electric...

May 27, 2024

Bah humbug! Over half of SME owners say...

December 18, 2023

Chancellor’s £7.3bn green gamble aims to boost UK...

July 10, 2024

10 Important Lessons Businesses Can Take from Other...

April 11, 2025

Billionaire Issa brothers back hydrogen-powered lorry start-up

July 10, 2023

Startup founders are busy, but they still need...

January 3, 2023

Leen Kawas on Resilience as Strategy: The Role...

February 6, 2025

Scaramucci warns unrealised gains tax would devastate US...

September 7, 2024

Putin poised to unleash cyber attacks on UK,...

November 25, 2024

Q&A with State Representative Ron Eugene Reynolds

August 7, 2024

Elon Musk Criticises US Tariffs on Chinese Electric...

May 27, 2024

Bah humbug! Over half of SME owners say...

December 18, 2023

Chancellor’s £7.3bn green gamble aims to boost UK...

July 10, 2024

10 Important Lessons Businesses Can Take from Other...

April 11, 2025

Billionaire Issa brothers back hydrogen-powered lorry start-up

July 10, 2023

Startup founders are busy, but they still need...

January 3, 2023

Leen Kawas on Resilience as Strategy: The Role...

February 6, 2025

Scaramucci warns unrealised gains tax would devastate US...

September 7, 2024

Putin poised to unleash cyber attacks on UK,...

November 25, 2024

Q&A with State Representative Ron Eugene Reynolds

August 7, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Iran regime escalates repression toward ‘North Korea-style model of isolation and control’

      July 4, 2025
    • UK revealed as Europe’s worst country for commuters in new ranking

      July 4, 2025
    • This July 4th, a family waits: American hostage’s father pleads for son’s freedom from Hamas terrorists

      July 4, 2025
    • $88m methane-tracking satellite lost in space, dealing major blow to climate monitoring

      July 4, 2025
    • New US visa rules will force foreign students to unlock social media profiles

      July 4, 2025
    • The real Formula 1: British Grand Prix highlights UK’s £16bn motorsport economy

      July 4, 2025

    Categories

    • Business (8,393)
    • Investing (2,102)
    • Politics (15,945)
    • Stocks (3,189)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved