Heritage Auctions reports 2016 sales surpass $850 million
Coins, comics, timepieces, fine art, and sports memorabilia are some of the categories at Heritage Auctions to finish 2016 with growth and forward momentum. Heritage Auction leaders share a look back at a year that produced sales of more than $850M.
DALLAS — Heritage Auctions recently announced sales of more than $850 million for 2016. This is the firm’s third-best year ever, and nearly equal to its 2015 sales of $860 million. The results are a signal of the company’s continuing dominance in the collectibles realm. This occurs while other major auction houses recorded significantly lower sales volume for the same period.
Coins Lead Charge in Heritage Auctions' 2016 sales
Heritage Auctions' fine art category recorded a 28 percent leap in 2016. This is in stark contrast to sales at its two largest competitors, both of which saw sales decline by approximately 30 percent.
“Through diversity, transparency and ardent attention to our clients, Heritage solidified and increased its commanding lead as the largest auction house founded in America,” said Heritage Co-Chairman James Halperin. “And we’re anticipating an even better 2017.”
U.S. Coins remains Heritage's largest category, with 2016 auction totals exceeding $192 million. This results in outselling all other numismatic auction houses combined by a wide margin, according to the Professional Numismatists Guild annual survey. The survey shows Heritage maintaining its 56 percent market share.
Early 2017 Coin Shows Reveal Positive Path
World & Ancient Coins at Heritage realized about $47 million, while Currency posted over $29 million auction sales. Both categories also showed early signs of increased market strength at major Heritage auctions in Florida and New York.Together the auctions realized almost $70 million during the first 10 days of January 2017.
“Based on late 2016 and early 2017 auction results, the U.S. Coin Market remains upbeat, with prices now already 10 to 12 percent above the previous years’ prices, on average,” Halperin said. “We are already seeing extremely positive results from the first coin auctions of the year. Meanwhile, our plans to expand into other markets and geographic regions are on track.”
Several of Heritage’s other categories set records:
· Heritage’s Sports auctions grew from $42 million in 2015 to an incredible $57.4 million in 2016.
· The firm's already-dominant Comics and Comic & Animation Art Auction category was another juggernaut. Total realized auction prices rose from $34 million to a record $43 million.
· Fine Jewelry, Timepieces and Luxury Accessories at Heritage combined for a solid year as well. With more than $41.7 million in auction totals (more than $30 million in Jewelry and Watches and more than $10.7 million in Luxury Accessories). This compares to a combined more than $26 million in 2015.
— Movie Posters posted sales of $7.95+ million versus $7.4+ million in 2015.
· Luxury Real Estate saw sales increase to $19 million versus $11.2 million for 2014 and 2015 combined.
— Wine recorded auction totals of $10.8 million in 2016 versus $7.55 million in 2015.
In addition, the company opened a new office in Palm Beach, Florida. Plus, a full-service showroom in Chicago. The number of online registered bidder-members at Heritage's site tops 1 million. This reflects an increase of nearly 90,000 new members in 2016. With that, online sales rose to $344 million.
For more information about Heritage Auctions, visit www.ha.com.
