Arte e Cultura
Artprice: Sotheby's, Phillips and Ketterer adapt to the new reality
" observes (somewhat ironically) thierry Ehrmann, President and Founder of ArtMarket.com and its Artprice department… ".
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© thierry Ehrmann 2020. Courtesy Contemporary Art Museum L'Organe / La Demeure du Chaos / Abode of Chaos
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Phillips has also announced the creation of a brand new partnership with the leading Chinese art auctioneer, Poly Auction, whose sales turnover reached $617 million in 2019. But Poly Auction had a very difficult start to 2020, taking just $3.7 million in the first half (-99%), a situation it clearly hopes to reverse as quickly as possible via this alliance with the British auctioneer in Hong Kong , aimed at encouraging potential sellers to sell. "[ ] " (1) says Jonathan Crockett , President of Phillips Asia.
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1. Sotheby's - $1.49 billion (-31%)
2. Christie's - $1.03 billion (-54%)
3 . China Guardian - $171 million (-31%)
4. Phillips - $164 million (-49%)
5. Xiling Yinshe - $76.3 million (+ 18%)
6. Bonhams - $54.5 million (- 32%)
7. Artcurial - $36.5 million (-30%)
8. Ketterer Kunst - $31.8 million (+ 5%)
9. Dorotheum - $27.1 million (-24%)
10. Mainichi - $22 million (-35%)
At the opposite end of the scale, some operators have apparently benefited from the health crisis (Xiling Yinshe and Ketterer Kunst ). The German auctioneer Ketterer has posted 5% growth versus the same year-earlier period. With long experience in online sales, it managed to maintain interest and trading throughout the lockdown period, hosting one or two "Online-Only" sessions every month between January and June. In July 2020 , it conducted four physical sales in Munich , taking a total of $29.5 million . In all, it was Ketterer's best first-half period in its business history.
" says Robert Ketterer , auctioneer and owner of Ketterer Kunst. " "
Robert Ketterer continues: " "
In this delicate period of accelerated transition to digital business against the backdrop of the health crisis, online sales are not yet the perfect solution for all segments of the art market. They are not automatically appropriate for all price ranges, all mediums and all artists. A more flexible approach combining the various sales channels (physical, online, private) seems to be the best strategy in the medium term. And this new approach to value creation seems to rely increasingly on an idea we have been promoting for many years: selecting , .
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