PR88104

PARIS, Feb. 16, 2021 /PRNewswire=KYODO JBN/ --

As museums continue seeking solutions to allow them to welcome visitors again

(even in small numbers and even if it means running at a loss like the MET in

New York[1]), the auction market has become a safety net for certain

institutions, and, initial results in 2021 are showing a high level of demand

in auction rooms!

January... Old Masters month

With a 10% fall in turnover in 2020, the Old Masters (artists born before 1760)

segment appears to have better withstood the impacts of the pandemic than other

segments. This is probably due to the fact that a substantial proportion of the

year’s sales the Old Masters segment represents a remarkably solid market.

“Old Master collectors are looking for the ‘right piece’ rather than the thrill

of the moment,” observes thierry Ehrmann, President and Founder of

Artmarket.com and its Artprice Department. “The Old Masters market is by nature

less sensitive to the temporary absence of fairs, large openings and gala

dinners. Moreover, it’s a market that actually appreciates extensive research

and is happy to wade through detailed reports by experts... all of which can be

done online.”

The battle to acquire the Portrait of a young man holding a roundel, attributed

to Botticelli, ultimately brought together just two collectors. But these two

determined bidders raised the price of the work to Sotheby’s very audacious

estimate in the midst of a global pandemic. Announced in September 2020, its

sale deliberately left three months for all concerned to conduct the necessary

research.

London, held back by its covid variant... and Brexit

The British capital usually hosts the year’s second round of major sales. In

February 2020, three paintings fetched over $20 million each at London sales:

- The Splash (1966) by David Hockney

- A la rencontre du plaisir (1962) by René Magritte

- Portrait of Marjorie Ferry (1932) by Tamara De Lempicka

But the health crisis has led to the postponement of London’s first major sales

of the year to March 2021. Moreover, the effective withdrawal of the United

Kingdom from the European Union risks weakening London’s dominant position in

this part of the world. Paris obviously hopes to benefit from this

reorganization.

The French capital is also continuing to attract more and more top talent from

the Art Market. Since the beginning of the year, two of Italy’s most powerful

galleries, Continua and Massimo de Carlo, have opened in the Marais District,

while Sotheby’s is preparing to sell Christo and Jeanne-Claude’s prestigious

collection in Paris.

The next few weeks promise to be exciting on the art market, both at auctions

and in art galleries... some reassuring news ahead of the reopening of museums

in Europe.

[1] Julia Jacobs, Is Seeing That Renoir Essential? In the Pandemic, Cities

Differ, The New York Times, 2 February 2021

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Artmarket is a global player in the Art Market with, among other structures,

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exploitation of historical and current art market information in databanks

containing over 30 million indices and auction results, covering more than

749,000 artists.

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engraved reproductions of artworks from 1700 to the present day, commented by

our art historians.

Artmarket with its Artprice department accumulates data on a permanent basis

from 6300 Auction Houses and produces key Art Market information for the main

press and media agencies (7,200 publications). Its 4.5 million ‘members log in'

users have access to ads posted by other members, a network that today

represents the leading Global Standardized Marketplace(R) to buy and sell

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in its project to consolidate its position as a global player in the market art.

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