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Member Exclusive

Christie’s Neda Whitney: International shoppers kept luxury afloat during the pandemic

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By Danny Parisi
Jun 25, 2021
NFT Tour

In the last year, auction house Christie’s saw 136 record-breaking online sales, fueled by buys of high-end luxury fashion, jewelry and buzzy NFTs.

Speaking at Glossy’s Fashion & Luxury Summit Worldwide on June 15, Christie’s svp of marketing, Neda Whitney, said that international growth in luxury played a big role in keeping the sector afloat during the pandemic. In 2020, Christie’s saw bidders from 90 new countries, who made up 40% of total bidders.

NFTs also helped stimulate luxury sales, with Christie’s famously making a sale of a $69 million digital NFT in March.

That resilience bodes well for the future of the luxury sector and is a good indicator of how brands can cater to those audiences. According to Whitney, luxury buyers value rarity, exclusivity and are open to new categories like NFTs.

“Whether that’s one-of-a-kind prototypes or items worn by a celebrity or athlete, that’s really what they gravitate toward,” she said. “We’ve also seen a lot of sales in areas outside of traditional clothing, like Supreme pinballs and Hermès bikes. There are a lot of categories outside of apparel that are appealing to that customer.”

Watch the full video of our conversation with Whitney below.

[s3mm type=”video” s3bucket=”glossysite-media-bucket” files=”NEDA FINAL.mp4″ titles=”6-18 Modern Commerce – NEDA” /]
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