On Thursday, December 17 Christie’s Paris auction house wrapped up an entirely online auction. This is the first time that Christie’s Paris has curated an online auction. The trend is growing and may be revolutionizing the industry. Many auctions are now available only online.
Christie’s got in early and first began online only auctions in 2011 seeing it as a way to reach more buyers. The house invested 50 million dollars in developing its online platforms for bidding. Online-only has grown from two auctions in 2011 to over 75 this year. According to a Christie’s spokesperson, the sales not only grow by number of sale but also by the number of lots in each sale. “Online allows us to be truly global in reaching our clients and new audiences,” she said. Christie’s now plans to increase the number of online auctions next year.
Christie’s main rival, Sotheby’s, followed suit and began offering live online bidding in April 2015 on an eBay channel. Online bidding at Sotheby’s rose 55 percent in the first half of 2015. Then, in October, the auction house started offering online-only auctions on technology start-up Artsy’s website and iPhone apps.
Despite the boom in online auctions, the days of traditional bidding are not over. When a work of art comes in to Christie’s, a decision is made about where to set it: live auction, online-only or private consignment, depending on which platform is likely to work best for a given piece. A consigners time-line also affects that decision. As a Christie’s spokesperson explained: “We create a calendar across all channels that will offer our clients what they are looking for when they are looking for it. Online will continue to be an important channel for auction sales, as will live auction and private sales.
LOT 1 WADE GUYTON (B. 1972) X Poster (Untitled, 2007, Epson UltraChrome inkjet on linen, 84 x 69 inches, WG1999) signed and numbered ‘Wade Guyton’ (on a label affixed to the sleeve) hand-folded digital print with archival UV curable inks 213.3 x 175.2 cm. (84 x 69 in. ) Executed in 2015, this work is from an edition of 100, published by Printed Matter, Inc., New York, and is contained in its original cardboard sleeve.Estimation: $12,000-18,000 © CHRISTIE’S IMAGES LIMITED 2015. Pictured top is LOT 8 WALASSE TING (1920-2010) Suddenly Spring Again signed, titled, dated and located ‘Suddenly Spring Again’ Ting 12-8-1988 ‘Amsterdam’ (on the reverse) acrylic and crayon on canvas 70 x 100 cm. (27 ½ x 39 3/8 in.) Painted in 1988.Estimation: $35,000-52,000 © CHRISTIE’S IMAGES LIMITED 2015
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