A Message from Guillaume Cerutti, Christie’s Chief Executive Officer
We started 2024 with the exciting news of the sale of Sir Elton John’s Collection. We are delighted to be able to present a diverse range of art, memorabilia and personal items from the music icon’s former home in Atlanta. Discover the extensive collection in our New York Rockefeller Center galleries from 9 February and online here. A truly energetic way to start the New Year!
The Art Market in the Coming Months
This New Year’s message is also an opportunity to share with you a few thoughts on the state of the art market over the coming months. As we have seen in 2023, the art market is not immune to the macro environment. Evolution of GDP, inflation and interest rates, in addition to geopolitics, will continue to have an impact in 2024.
However, this market is much more resilient than it was a decade ago for three major reasons.
- The continued attraction of the art and luxury market to new buyers: more than 30% of our clients at Christie’s each year are new to our business, with a significant proportion of these new clients in the millennial and Gen Z generations.
- Art and luxury as an asset class: art and luxury objects can be attractive and secure investments, particularly when other asset classes appear more volatile.
- Pricing: the market underwent significant pricing adjustments in 2023 and we believe it is now ready to restart on a firmer footing.
In summary, 2024 should be a year of growth for the art market, with opportunities for positive performance. Christie’s will continue to focus on providing the best advice and professional service to all our clients, whether at auction or through private sale, appraisals and financial solutions.
January Highlights: Upcoming Events at Christie’s
We are confident that the quality of our January events and sales will set the tone for an exciting and positive season.
We start in New York with our Americana Week, followed by Classic Week, which will include the highly anticipated Quentin Collection of Renaissance and Baroque Sculpture (discover online here).
In London, on 31 January, we will offer 120 guitars and amps from music legend Mark Knopfler’s collection in what already promises to be a very exciting sale.
In the meantime, Christie’s Paris will present a private selling exhibition of works by artists from North Africa, reflecting the diversity and dynamism of contemporary creation from this part of the world.
As we enter a new year, it’s important to acknowledge the ongoing global challenges that affect countless lives in many parts of the world. In keeping with our enduring commitment, we remain steadfast in our support of philanthropic causes, united in our mission to create meaningful change.
On behalf of myself and everyone at Christie’s, best wishes for a happy and healthy 2024.
Guillaume Cerutti
Chief Executive Officer
