What's Happening?
Christie's has successfully tested a new auction model with the Jonathan Burden Design Sale, which kept works in situ at Burden's Long Island City studio. The sale featured 151 lots, including a 19th-century Incarnat Turquin marble dining table that sold for $101,600, leading the $1.07 million online auction. The hybrid format allowed over 250 visitors to view the collection by appointment, combining the convenience of online bidding with the immersive experience of in-person viewing.
Why It's Important?
Christie's innovative auction model represents a shift in how art and design sales are conducted, blending digital and physical experiences to enhance buyer engagement. This approach could set a precedent for future auctions, offering greater accessibility and attracting new buyers. The success of the sale demonstrates the potential for hybrid formats to expand the reach of auctions, benefiting both sellers and buyers in the art market.
What's Next?
Following the positive reception of the Jonathan Burden Design Sale, Christie's may continue to explore hybrid auction formats, potentially leading to more in situ sales. This could influence other auction houses to adopt similar strategies, reshaping the industry and increasing competition. The model's success will likely encourage further innovation in auction practices, enhancing the overall experience for participants.
