Christie's, the global auctioneers, logged the second-highest year for sales on record in 2015, albeit down from numbers for 2014.

The global auction house Christie’s reported total sales of £4.8 billion ($7.4 billion) for 2015, down 5 per cent in sterling terms from a year before, but still the second highest level in its history, it said yesterday.

Highlights from last year included the record-making sale in New York in November of Amedeo Modigliani’s Nu couché for $170.4 million and the highest day-sale totals seen during its corresponding 20th Century sale week.

The dip in total sales happened against a background of a more difficult global market environment, as equity markets slipped in the summer, amid concerns about a decelerating Chinese economy. (China has been a significant and growing source of art buying in recent years.)

The firm said it was encouraged that new buyers accounted for around 30 per cent of its total buyer base, coming through via curated auctions, various categories, as well as through digital sales.

Sales in the Impressionist and Modern Art category (including Modern British art, American paintings, and Latin American paintings) surged by 57 per cent year-on-year to £1.3 billion, or up 47 per cent in dollar terms. The Post-War & Contemporary department saw sales of £1.5 billion, a fall of 14 per cent, or down 20 per cent in dollar terms. Old Master Paintings, 19th Century and Russian art sales fell 37 per cent, or down by 41 per cent in dollar amounts. The luxury sector, which covers jewellery, watches, and wine, saw total sales of £493.4 million, a fall of 13 per cent on a year earlier, and down by 19 per cent in dollars.

As far as regions were concerned, sales in the Americas were £2.4 billion, up 19 per cent, or $3.6 billion, rising 11 per cent. In European salesrooms, there was a 15 per cent gain in Paris sales; there were also gains in sales in India (up 32 per cent in sterling amounts) and a gain of 2 per cent in Asia. Japan and Asia saw significant buyers, rising 12 per cent and 14 per cent, respectively, from the levels seen in 2014, Christie’s said.

Digital sales grew more important. Digital buyer numbers rose by 10 per cent, with sold value up 11 per cent and some 20 per cent of new buyers using these routes. In Asia, the number of digital buyers rose by 12 per cent and buyer spending rose 34 per cent; in the Americas, client spending rose 13 per cent. Some 83 per cent of visitors to Christies.com were new. Christie’s LIVE, the platform allowing clients to bid in live auctions, “continues to gain traction”, it added.