Friday, January 28, 2011

«I LIKE MONEY ON THE WALL»

Jan 27 (Reuters) - Auctioneer Christie's said on Thursday last year's record sales of 3.3 billion pounds ($5.0 billion) were sustainable due to the rising number of people buying art, and there was room for further growth."It is that rise of new registrants which really for me signals both sustainability and actually further potential growth," Jussi Pylkkanen, president of Christie's Europe, told Reuters in an interview.Christie's has reported a 53 percent jump in global sales last year. Its main rival, Sotheby's (BID.N), has yet to report but its auction sales also rose sharply last year to $4.3 billion.Pylkkanen said Christie's, the world's largest auction house, would focus on expanding its presence online and on developing a client base in mainland China. Christie's is owned by billionaire French businessman Francois Pinault.

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