The good news first: According to Christie’s CEO Guillaume Cerutti, economic cycles in the art market are short-lived. So if things go downhill for two or three years in a row, the bottom will soon be reached and after that, trade should start to pick up again. Those who are currently fearing for their jobs at the international auction house or its competitors may think that this is a godsend, because the company’s figures announced at a press conference point significantly downwards: Christie’s own figures show that it generated 2.1 billion dollars from auctions in the first half of 2024. That is 22 percent less than in the same period last year, when the house’s auctions brought in 2.7 billion dollars – and continues a downward trend.
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