The version of this article first appeared on CNBC’s Inside Wealth Newsletter. This is Robert Frank, a weekly guide for Net-Worth Investor and Consumer. Sign up and receive future editions directly in the receiving box. ART HOUSE CHRISTIE’S aims to tap the next generation of wealth with next -generation auctions, digital art, and luxury. Bonnie Brennan, the President of CHRISTIE, who will become CEO on February 1, said in an exclusive interview with CNBC, that changing wealth has promoted a new approach to the auction business. Brennan has been auctioned for a 13 -year auction and will undertake a new role to supervise the artistic and cultural activity of ArtĂ©mis, a Pinot Family holding company that is the chairman and Christ’s owner, on behalf of the CEO GUILLAUME CERUTTI. Masu. Brennan said that more than one -quarter of Christie buyers and biders on the Americas are now less than a millennial generation. The rapid increase in young buyers has shifted to online sales, and 81 % of all bids of Christie in 2024 are from online channels. “We have greatly increased the number of millennials and Z buyers,” said Brennan. “We need to confirm that we are interested in what they are interested in.” Auction house luxury product business -handbags to watches and jewels are all on blocks. It is a powerful source of a new business from a young collector, and is often purchased afterwards. Brennan states that Crypto is enjoying value and popularity, especially among the crowds under 40, so digital art, inappropriate tokens, or NFTS sales are also set for comeback. I did it. In 2021, Christie’s sold a $ 69 million digital work by artist Beeple, marking the historic moment of the art world and the peak of NFT’s trend. Later, digital assets have collapsed, leading to a wide range of losses and accusations of fraud and market operation. “We had this encryption winter, and there were not so many NFTs after Bipple,” Brennan said. “But I believe that the encryption market is stable and some green shots are watching, so I still believe there is a long runway.” It is a collection. CHRISTIE has sold over $ 20 million more than $ 20 million, including his car, piano, and silver platform boots sold at $ 94,500. “In the United States, celebrities sell,” Brennan said. Changes from wealth to the younger generation is to rebuild wealth management, luxury goods, especially auctions and collected markets. As part of the large -scale wealth relocation, it is expected that over 100 trillion dollars will be taken over to the younger generation and women in the next few decades. The collective market, which has been promoted for many years, has been a major change in guards, combined with the profitability created on behalf of the 30s and 40s and the growth of high -tech. Geographically, Brennan stated that the United States accounted for 42 % of the company’s auction sales last year and will continue to be Christie’s great engine. Brennan’s appointment as a CEO is considered to be a verification of the importance of the United States in the world auction market, especially after the United States for four years, especially in China’s economy. “The United States is sometimes underestimated, but the stability of our market and our market every season is really from Americans,” she said. Brennan not only grows in the United States by attracting young buyers, but also Christies is trying to expand the use of artificial intelligence. She said that Christie’s is mainly using AI tools for human resources today and will help clients to answer common questions. As time goes on, she wants to use AI to “enhance client experience”, probably to value artworks and authenticate. “It’s a useful tool. It’s not a replacement,” she said. “It also requires a view from experts, but AI provides some really good data to see and review as enhancement.” Brennan will continue in the second half of 2024 this year. He said that it would be expected to accelerate. According to ARTTACTIC, sales of auctions around the world fell by 25 % in 2024 to $ 8.3 billion, and in 2022 decreased by 40 % from the peak. Christies was slightly better than many pears, but the total sales in 2024 decreased by $ 4.2 billion. 16 %, private sales increased by $ 1.5 billion, 41 %. Art experts stated that the biggest drugs in the market last year are not demand from buyers, but are selling wonderful works. CHRISTIE’S was 86 % healthy, 86 % of the “sales ratio” (the ratio of lots sold) in 2024. Last year, the company sold the most expensive task at RENE MAGRITTE’s L’EMPIRE DESLUMIERES. 。 Last year, it was the only task to spend more than 100 million auctions. Brennan stated that 2025 has already shown signs of higher confidence among the sellers. “We have a lot of pipelines from the client, and we will tell you that the market will be stronger in spring.” “I don’t know what will happen, but this year, especially in the first half, I really feel good.”
The version of this article first appeared on CNBC’s Inside Wealth Newsletter. This is Robert Frank, a weekly guide for Net-Worth Investor and Consumer. Sign up and receive future editions directly in the receiving box.
ART HOUSE CHRISTIE’S aims to tap the next generation of wealth with next -generation auctions, digital art, and luxury.
