Christie’s and Phillips move May ‘giga-week’ New York sales to end of June due to coronavirus

Last year during the New York “giga-week” sales, Christie's sold Jeff Koonss Rabbit (1986) for $91m, the highest price ever paid at auction for a work by a living artist Courtesy of Christies

Due to coronavirus (Covid-19), Christie's and Phillips will scrap their multi-million dollar Impressionist, Modern and contemporary art sales series in New York, due to run in mid-May, in favour of a “consolidated” week of 20th-century sales at the end of June.

The new series of New York sales, during the week beginning 22 June, will absorb the 20th-century and contemporary London auctions normally held at the end of June. However, London's usual Classic week—including Old Master paintings and the Exceptional Sale—is expected to run as usual from 6 to 10 July, with New York's equivalent Classic Week (usually held in early May) postponed to 3 to 10 June.

Meanwhile, Sotheby's is yet to make a decisions about whether to run with its New York May sales. “As previously announced, we plan to make final decisions about each auction event at least 30 days prior to the existing sale date, and will alert all relevant parties at that time,” a spokeswoman says.

“Clients are more cautious about consigning,” says Christies chief executive Guillaume Cerutti, though he stresses that “[buyer] demand is still strong”, citing a rise in private sale enquiries from buyers in the past two weeks. Jussi Pylkkänen, Christies global president, says its European consignors “like the idea of selling in New York in June” adding that the company has received “no push-back” from clients. “So far we've had nothing but full understanding," Pylkkänen says. “The plan is to effectively have a Spring Break.”

At Christies Geneva, the Luxury Week (including jewellery, watches and wine) has also been postponed to 29 June to 1 July due to the virus.

Meanwhile, as Hong Kong is seemingly emerging from the other side of the outbreak, Christies is hopeful that its Spring Asian Art and Luxury sales will run as currently scheduled from 30 May to 3 June. Phillips also plans to hold its spring season in Hong Kong as originally planned from 31 May to 2 June. It has yet to reveal the exact dates for its early June sales in London.

Christies Hong Kong office has now returned to normal busRead More – Source