Record Post-War and Contemporary auction sales propped up by financial guarantees
In May, the Post-War & Contemporary art evening sales raised a record of $1,142,850,000, against the pre-sale estimateof $1,066,350,000 to $1,441,450,000. This was 4% higher than the record set in November 2014, and 5% more than May 2014. The sales were spread out over four evening sales, as Christie’s decided to kick start the week by adding in a new mixed format auction of Impressionist, Modern and Contemporary works of art, in addition to its traditional Post-War and Contemporary Evening sale.
Again Christie’s demonstrated that it continues to have the upper hand in the Contemporary segment, with total sales for Post-war and Contemporary lots across their two evening sales totalling $729,770,000; 1.9% above their November 2014 result. The gap between Christie’s and Sotheby’s Evening sales results amounted to $436 million, down from $452 million in November last year. This gave Christie’s a market share of 65% against Sotheby’s 28% or Phillips 7%. Nonetheless, Phillips has almost doubled its sales from $43.1 million in November to $83.1 million in May 2015.
Click here to read the full report

Leaders List Interview: 60 seconds with Joss Dalrymple, Tilney Smith & Williamson
Citywealth spoke to Joss Dalrymple, Group Head of Client Services at Tilney Smith & Williamson, to find out how he is helping clients through the turmoil of the pandemic, and to discuss his Plan B - taking part in equestrian pursuits.Private Equity community strikes out against youth disadvantage
Members of the private equity community took to the hallowed turf of the Emirates Stadium to help raise money for the Private Equity Foundation