Leslie Rankow Fine Arts

INTERNATIONAL ART ADVISORY SERVICE

Tag: private sales

Stay tuned: future plans at Phillips with Deputy Chair and Head of Private Sales, Miety Heiden

Phillips
New York, London, Hong Kong

SINCE MID-MARCH 2020, PHILLIPS HAS HAD TO  POSTPONE THE MAJORITY OF THEIR UPCOMING SALES, AS DID ALL THE AUCTION HOUSES, IN RESPONSE TO THE COVID-19 PANDEMIC LOCKDOWN. ALTHOUGH A PAINFUL DECISION, IT WAS A NECESSARY ONE. ART FAIRS HAVE BEEN CANCELLED OR POSTPONED, GALLERIES CLOSED AND NOW CAUTIOUSLY OPENING BY APPOINTMENT IN SOME CITIES AND IN EUROPE AND ASIA, AND THE ART WORLD AS WE KNOW IT HAS BEEN RECONFIGURED. WHAT HAS EMERGED IS A RAPID AND PROFOUND DEVELOPMENT OF A NEW WAY OF VIEWING AND BUYING IN THE ART WORLD VIA THE SOPHISTICATED DIGITAL TECHNOLOGY THAT IS NOW AVAILABLE.

PHILLIPS ANNOUNCED:

As a result of the unprecedented COVID-19 pandemic and recent New York State and City mandated restrictions on commercial operations, Phillips regrets that we are unable to make lots from this sale available for pre-Auction, in-person inspection.

Gerhard Richter Phillips Evening Sale, NY, July 2, 2020

ON JUNE 15th, THE SOUTH CHINA MORNING POST OFFERED THIS PREDICTION:

“While you’ll certainly see our core business return to in-person live auctions when it is safe to do so, we’ve witnessed the effectiveness of the online-only platform and the interest it has attracted, which is certainly making it one of our key services and options for our clients. This is something that was in the works well in advance of Covid-19, and you’ll see it remain a pillar … after it as well.”

The transition of sales from in person to online has allowed these forward-thinking auction houses to further develop and fine-tune online sales – and no one is bidding against the phenomenon remaining strong when live auctions eventually resume.

Joan Mitchell
Noel
Phillips July 2 Evening Sale

PHILLIPS WILL HOLD ITS 20th CENTURY AND A CONTEMPORARY ART EVENING SALE, NEW YORK, ON JULY 2, 2020.

“We live in strange days,” Phillips’ Robert Manley, Worldwide Co-Head of 20th Century and Contemporary Art, said. “But the way I see it is that for every season, every auction you have to take the temperature of what people looking for and buying and those are the things we go after. This season in a way is no different.”

Manley said that Phillips plans to make the July 2 sale as similar to any of its other evening sales before the pandemic. The works are still being heavily researched and with accompanying catalogue essays, to be published online instead of in a printed book. Potential bidders will still have the opportunity to view the painting, but it will most likely be on an appointment-only basis. And the sale will take place with a live auctioneer, though most likely bidders will not be allowed in the salesroom.

VR Walkthrough: 20 Century and Contemporary Art, Hong Kong, July 8, 2020

HERE TODAY, MIETY HEIDEN, DEPUTY CHAIR, HEAD OF PRIVATE SALES AND PHILLIPS X, THEIR ONLINE PLATFORM, WILL SHARE HER PERSPECTIVE ON THE FUTURE OF THE ART MARKET IN GENERAL AND PHILLIPS IN PARTICULAR IN OUR ALMOST POST-PANDEMIC WORLD.

What are your aims and goals in growing the private sales department at Phillips? Are there changes you would like to make in how the private sales department works?

Our private sales department at Phillips is growing and developing as we speak. We are running an exhibition program in all three of our selling locations – London, New York and Hong Kong – and we also have pop- ups all around the world. We work with dealers, curators and artists directly, and are looking into digital private sales as well.

As always, our sales will feature significant examples from a variety of modern, post-war, and contemporary masters.

Do you think the trend towards the private sales sector will continue to increase and, if so, why?

I definitely think there is huge potential for growth in this area. Whilst the auction process still forms the backbone of our business, the ability to engage with our collectors all year round on a more personal and direct platform is a very important and expanding avenue.

IT HAS BEEN A DELIGHT TO POST THIS INTERVIEW WITH MIETY AND THE LRFA BLOG SO APPRECIATES HER CONTRIBUTION OF TIME, EXPERTISE AND INSIGHT.

THANK YOU, MIETY!

Beyond auction, Phillips X with Miety Heiden, Deputy Chair at Phillips, Head of Private Sales and PhillipsX

Deborah Kass
NOMEN: American Women Artists
Phillips X July 2019

In the first traveling exhibition for Phillips X,  Foujita/Sanyu: Muses and Models went on view in both Paris and Hong Kong. Last summer, Phillips X held an exhibition in New York entitled NOMEN: American Women Artists from 1945 to Today, as well as HYSTERICAL  in collaboration with set designer Gary Card in London. Earlier in 2020, 10 Monkeys and a Dolphin brought forth  a sale of exceptional works by the ever popular street artists, Banksy and KAWS.

Phillips has moved beyond physical exhibitions to offer works for private sale digitally. Miety Heiden heads this new division called Phillips X which I am sure has garnered rapid success more quickly than anticipated due to the Covid-19 pandemic lockdown and is particularly timely in terms of the current situation. Whatever the circumstances, Phillips X represents an important expansion beyond auction and a new format for private sales, the online viewing room, certain to reach a global audience.

In an interview posted on the Phillips website on April 9, 2020, Miety adds:

 Our clients at Phillips have been moving online for quite some time now. In our auctions, they register and bid online and we’ve seen explosive growth in the value of works sold online. Just last November, a painting by Sean Scully  sold for over $1.7 million to an online bidder during our New York Evening Sale. Just as we have with our slate of exhibitions, we’ve created this platform to meet collectors where they are, year-round. We began this program with great artists such as Tracey Emin,   Lucian Freud, Yayoi Kusama, KAWS and more. We’re adding new works to the online viewing room on a daily basis and, at present, they all stay online for two weeks. This is an exciting development for our team and for Phillips as a whole.

https://www.phillips.com/article/56425102/tca-miety-heiden-private-sales-phillips-auction

HYSTERICAL
Hosted by Gary Card
Phillips London

What are some of the most significant transactions you’ve made as Head of Private Sales at Phillips?

The private sales department has grown exponentially over the last few years. We have hosted a number of incredibly successful selling exhibitions since I’ve been here – our summer 2019 exhibition Hysterical, for example, was a notable example of one of these shows – a collaborative selling exhibition with renowned set designer and artist, Gary Card.

Ten Monkeys and a Dolphin: Banksy & KAWS
Phillips Jan/Feb 2020

How would you describe the profile of the collector now and how has it evolved over the years?

Collectors today are far more informed about the market and what’s ‘hot’, there is more information available to them online like Artnet and The Baer Faxt which in turn makes them more autonomous. Collectors are also more mobile, traveling to art fairs, auctions and exhibitions all over the world. Collectors also tend to worry more about art being an asset and keeping its value.

Sean Scully
Red Bar
Phillips Evening Sale
November 2019

What do you think of the current art market? From this vantage point it seems to have an almost surreal success with big ticket market quality artworks but a more conservative judicious approach to middle market works?

Actually the contemporary art market is entering a new territory, due to the significant growth and vibrancy of the middle market. There is an increasing focus on works of art priced at the hundreds of thousands of dollars to the lower millions. Our Day Sale totals are breaking records season after season, and we will focus on building on this in 2020. Of course the big ticket items will always have the headlines but the backstories are less rosy.

What do you think the current trends to support artists who did not get the recognition they deserved because of gender or race? How long-term do you think these trends are?

There have of course been many artists who have been overlooked across the art historic canon and into the present day, and when the art ecosystem finally shines a torchlight on these artists it can be a very positive thing, bringing new names and ideas to the table.

Stay tuned! Miety will share some of the highlights of future plans at Phillips in our next LRFA Blog post.

Thank you for following!

 

Private Sales vs Auction with Deputy Chair of Phillips & Head of Private Sales, Miety Heiden

Kehinde Wiley 
American African American
Phillips

Phillips Private Sales first launched in 2018. The curated program exhibits some of the world’s most sought-after works from the 20th and 21st centuries, informed by the company’s understanding of what the market demands and with a focus on approachable works that appeal to multiple types of collectors. Miety Heiden, Deputy Chair at Phillips, is also the Head of Private Sales and director of Phillips X, the auction house’s private selling exhibition platform. Often ahead of the curve set by the art world’s major institutions, the team at Phillips Private Sales has established a pattern of tapping into the zeitgeist and sourcing works that are underrepresented in the secondary market. Last January in New York, Phillips responded to exploding demand for previously-ignored black artists with a group show entitled American African American.

The LRFA blog is very pleased to continue the conversation with Miety Heiden whose intelligence and perception of the art market, past, present and future, enriches Phillips’ reach in the global auction world. There is a huge potential for growth in the area of Private Sales, particularly in these extremely uncertain times, haunted by both the coronavirus pandemic and the state of extreme social unrest and inequality erupting in America at the present time.

“In the past, Phillips was not really focusing on private sales, and now we have created a platform for both online and offline sales where we can connect with clients 365 days a year. Auctions will always be a key part of our business, but there’s been a growing movement to engage with collectors more than just a few days a year. Again, as the market goes global, the demand just keeps rising, and we want Phillips to be there to meet it.”

Miety Heiden, Deputy Chair, Head of Private Sales and PhillipsX, in an interview in April 2020

https://www.phillips.com/article/56425102/tca-miety-heiden-private-sales-phillips-auction

Phillips
Installation View
American African American

Miety, thank you for your time and sharing your expertise.

What are the deciding factors on the part of an auction house when analysing the best placement for an artwork, both geographically and in terms of private sales versus public auction?

It generally works on a case-by-case basis – in particular we take into account the reason for selling and the nature of the work. For example, those younger artists of the moment tend to do better at auction, and their reputation privately follows suit. On the other hand, some clients prefer to sell discreetly or quickly, and that’s often where private sales come into play. Sometimes, a particularly special piece can reach a wider audience if sold at auction, so we can go down that route to garner more exposure for the sale as this takes into account the popularity of certain artists in different parts of the world.

Nicholas Party
Landscape
Phillips Evening Sale
May 2019
Estimate $100-150,000
Sold $608,000

The competition with all three auction houses has become increasingly charged as the prices of artworks have increased by geometric proportions and the collector profile has expanded both due to the globalization of art and as a result of digital technology. What are some of the ways in which an auction house can ‘sweeten the deal’ to persuade a collector to consign a work?

Given our more focused lens on the best of 20th century and contemporary art, we understand this market well and our entire team is fiercely committed to singularly promoting individual artworks and collections as leading highlights of a sale season. The emphasis that works of art get within the context of our sales is therefore far greater, as we have the advantage of being more curated in what we do. Our global reach spans a huge range of collectors worldwide, and we are soon opening an unrivalled space at 432 Park Avenue in New York that we are confident will be a huge selling point for Phillips.

Carrie Mae Weems
S/2 Gallery 2015

What are some of the highlights that stood out in the private sale sector during your time at Sotheby’s?

The nature of private sales is of course that they are private! But at the time, the S2 gallery was really ahead of the curve. We hosted a selling exhibition in 2015 called ‘I Like It Like This with Drake’ that included works by African American artists such as Crosby, Hendricks, Basquiat and others that are now in huge demand in the contemporary scene.

Drake
S/2

https://www.billboard.com/articles/columns/hip-hop/6561104/drake-i-like-it-like-this-sothebys-exhibit

Who are the artists you view as having the strongest foothold now at auction and in private sales and which artists do you see moving into that position in the future?

The enormous amount of enthusiasm for the new generation of artists working in figuration points to a shift in taste. I think 2020 will continue to see this renewed appreciation for figuration in painting, with artists such as Julie Curtis, Genieve Figgis, Tschabalala Self, Nicholas Party, and Christina Quarles garnering great international attention and fierce competition on the secondary market. The result Phillips achieved recently for Amoako Boafo’s ‘The Lemon Bathing Suit’ reflects this shift. Of course let’s not forget the blue chip artists like Warhol and Twombly – these will always continue to do well as long as they are of a good quality. Quality is everything!

Amoako Boafo The Lemon Bathing Suit Phillips London Sale February 2020 Estimate GBP 30,000-50,000 Sold GBP 675,000

IN OUR NEXT LRFA BLOG POST, MIETY WILL DESCRIBE THE NATURE OF TODAY’S COLLECTORS. STAY TUNED!

 

A warm welcome to Miety Heiden, Deputy Chair and Head of Private Sales at Phillips

Miety Heiden Deputy Chair & Head of Private Sales at Phillips

TODAY, PHILLIPS IS A PREMIER DESTINATION FOR BUYERS AND SELLERS OF MODERN, POST-WAR, CONTEMPORARY, AMERICAN AND LATIN AMERICAN WORKS OF ART IN ADDITION TO WATCHES, JEWELS, PHOTOGRAPHY, WORKS ON PAPER AND EDITIONS. IN 2020, THE NEW YORK AUCTION HOUSE MOVED TO LARGER HEADQUARTERS AT 432 PARK AVENUE EXPANDING ITS FOOTPRINT IN NEW YORK AND ITS GLOBAL PRESENCE IN THE AUCTION WORLD.  FOUNDED IN LONDON IN 1796, PHILLIPS FIRST GAINED INTERNATIONAL RECOGNITION FROM ITS SALE OF THE ESTATE OF QUEEN MARIE ANTOINETTE HELD INSIDE BUCKINGHAM PALACE. ITS FOUNDER, HARRY PHILIPS, WAS AN INNOVATIVE BUSINESSMAN, THE FIRST TO HOST EVENING RECEPTIONS BEFORE AUCTIONS, NOW AN ANTICIPATED AND STANDARD PRACTICE. THE AUCTION HOUSE HAS CHANGED HANDS SEVERAL TIMES INCLUDING ITS OWNERSHIP BY LVMH CHAIR, BERNARD ARNAULT, AND DEALERS SIMON DE PURY AND DANIELA LUXEMBOURG.

Phillips Auction

IN 2014, AT A MOMENT OF A SYSTEMIC CHANGE IN THE THREE LEADING INTERNATIONAL AUCTION HOUSES, ED DOLMAN JOINED PHILLIPS AS CEO AND BROUGHT IN AN EXCEPTIONAL TEAM CULLED FROM THE RANKS OF CHRISTIE’S AND SOTHEBY’S. MIETY HEIDEN BECAME AN INVALUABLE PRESENCE AT PHILLIPS, CONTRIBUTING HER ENORMOUS EXPERTISE IN THE PRIVATE SALES SECTOR AT AUCTION, A VERY LUCRATIVE ASPECT OF EACH AUCTION HOUSE. SHE HAD LAUNCHED S/2, THE SELLING GALLERY AT SOTHEBY’S AND WORKED ON THEIR CONTEMPORARY EVENING SALES.

https://www.phillips.com

As reported in Artnet News, March 3, 2016:

In recent years, both Sotheby’s and Christie’s have increasingly focused on private sales, which are generally more lucrative, since they avoid the hefty costs of staging public auctions and publishing auction catalogues.

She contributed to business development and managed client relationships for the New York and Hong Kong contemporary art evening and day sales, as well as focusing on emerging markets and drumming up business on the West Coast. She was also a consultant to the Chinese contemporary art department, and was previously head of the modern and contemporary art department in Amsterdam.

TODAY THE LRFA BLOG IS DELIGHTED TO WELCOME MIETY HEIDEN, DEPUTY CHAIR AND HEAD OF PRIVATE SALES AT PHILIPS AUCTION HOUSE. MIETY IS BOTH A FRIEND AND A COLLEAGUE, MUCH ADMIRED BY EVERYONE WHO KNOWS HER. HER LOVE OF THE ARTS, DEEP KNOWLEDGE OF THE ART MARKET, SENSE OF HUMOR AND COOL COMPOSURE, MAKE HER AN INVALUABLE PROFESSIONAL ALLY AND FRIEND.

https://www.phillips.com/private-sales

MIETY, THANK YOU SO MUCH FOR TAKING THE TIME TO CONTRIBUTE TO THE BLOG!

Where did you grow up and what were your educational pursuits?

I grew up in the Netherlands and I always knew that I was interested in the arts. Once I finished school I studied History of Art at the University of Amsterdam.

How did you develop an interest in art? Were your parents collectors and were you exposed to the museum and gallery world as a child?

No, my parents weren’t collectors or anything like that. When I was 17, I had a conversation with a family friend who explained the auction world to me, and that’s when I knew that this is what I wanted to do with my life.

Who were the first artists that struck a chord? How did you know that you wanted to pursue a career in the art world?

The first artists that caught my attention were the Dutch Old Masters – the likes of Rembrandt, whose works I first saw at the Rijksmuseum as a teenager.

The Rijksmuseum
Amsterdam

How did you gain a foothold in the auction world?

I first started my career as an intern at a Dutch auction house in 1992, before joining Sotheby’s Amsterdam five years later. During my time there I also worked a lot in Singapore and Indonesia. I then moved to Sotheby’s New York in 2005.

What pulled you into the private sales sector first at Sotheby’s and now at Phillips? How would you describe the responsibilities of Head of Private Sales versus those of the auction specialist?

Having worked in auctions for 15 years I wanted to explore something new – I had the idea to set up a selling exhibition program at Sotheby’s and came up with the idea to open a gallery within Sotheby’s which we did in 2011. Our first show focused on Sam Francis and was a sell-out. This set the precedent for many more solo artist selling exhibitions for artists such as Basquiat and Keith Haring. In 2019, Phillips’ private sales were up 34% from the previous year – in part because of the time and resources we’ve devoted to it, and our international exhibition program. As we explore new ways to generate business under the pressures of the market, we are focusing more on the private selling aspect of the business.

What was your career path at Sotheby’s? What were your responsibilities when you started and how did they develop over time?

I was at Sotheby’s for 18 years in total. I was head of Modern and Contemporary Art and Indonesian Art at Sotheby’s Amsterdam, and then when I moved to New York I started as head of their Afternoon Sale, before working on the Evening Sale a year later. It was after that I started the S2 program and ran the two side by side, in the same way that I work in both auction and private sales at Phillips today.

IN THE NEXT LRFA BLOG POST, MIETY WILL SHARE HER EXPERT PERSPECTIVE ON AUCTION HOUSE POLICIES AND PROCEDURES AND ON THE POSITIONING A WORK CORRECTLY TO GIVE IT ITS OPTIMUM EXPOSURE, AN ART IN AND OF ITSELF.

THANK YOU FOR YOUR SUPPORT! KEEP READING!

Life in a jewel box with Courtney Kremers, Sotheby’s VP and Contemporary Art Specialist

The History of Now: The Collection of Daniel Teiger
Sotheby’s London

THE COLLECTION OF DAVID TEIGER, A MANAGEMENT CONSULTANT AND FORMER TRUSTEE OF THE MUSEUM OF MODERN ART, WAS SOLD AT SOTHEBY’S STARTING IN LONDON LAST OCTOBER DURING FRIEZE WEEK. THE COMPETITION BETWEEN THE AUCTION HOUSES VYING FOR SUCH A SUPERB, VARIED AND LEGENDARY COLLECTION MUST HAVE BEEN FIERCE BUT SOTHEBY’S MARKETING STRATEGY WON THE DAY. TITLED “THE HISTORY OF NOW”, THE COLLECTION FEATURED EXCEPTIONAL EXAMPLES OF MODERN, FOLK AND CONTEMPORARY ART, FEATURING EXCEPTIONAL EXAMPLES BY SUCH ARTISTS AS JASPER JOHNS, DAVID HOCKNEY, JOHN CURRIN, PETER DOIG AND MARK GROTJAHN IN A SERIES OF TEN TARGETED SALES WORLDWIDE.

Mark Grotjahn
The History of Now- The Collection of David Teiger

DAVID TEIGER CREATED A LIST OF PRINCIPLES TO GUIDE HIM IN HIS COLLECTING. SOTHEBY’S ADVOCATED THE SAME FOCUS AND CONCENTRATION IN ITS MARKETING AND SELLING OF IT: TRAVELING WORKS TO MANY CITIES, THREE IN ASIA ALONE; RESEARCHING, DOCUMENTING AND CATALOGUING EACH LOT; SELECTING THE VENUE THAT WOULD BEST SERVE EACH WORK OF ART, RESULTING IN AN OVERALL TOTAL OF MORE THAN $100 MILLION.

http://www.sothebys.com/en/auctions/2018/history-of-now-collection-david-teiger-l18623.html

Peter Doig
Buffalo Station 1
The History of Now- The Collection of David Teiger sale

THE HARD WORK, DEDICATION AND KNOWLEDGE OF WORKS  OF ART AND OF THE ART MARKET REQUIRED FOR THE SALE OF THE TEIGER COLLECTION IS JUST ONE EXAMPLE OF THE VIRTUALLY DAILY DEMANDS ON SPECIALISTS IN A TOP AUCTION HOUSE. CONSISTENTLY PLEASANT, CHEERFUL AND POLITE TO EACH AND EVERY DEMANDING COLLECTOR AND ADVISOR IS ANOTHER REQUISITE.

TODAY, THE LRFA BLOG IS DELIGHTED TO WELCOME BACK COURTNEY KREMERS, SENIOR VP AND CONTEMPORARY ART SPECIALIST, TO SPEAK FIRST HAND OF HER SOTHEBY EXPERIENCE.

WHEN DID YOU START AT SOTHEBY’S AND WHAT PROMPTED YOUR DECISION TO JOIN AN AUCTION HOUSE?  CUSTOMARILY, MANY PEOPLE START AT AN AUCTION HOUSE AND THEN GO ON TO WORK AS A DEALER OR ADVISOR?

Yes I did it backwards. But I am so thankful I did. I was able to understand the ecosystem that the auction house serves by first being a part of that ecosystem. Sotheby’s approached me about an opportunity to revamp their mid season sales in early 2013; that fall, we introduced the Contemporary Curated sales. It was an exciting new challenge, and when I left Kim to pursue it, she couldn’t have been more supportive.

Vija Celmins
Burning Plane
Good to Go: Property from the Collection of Joni Gordon

WHAT DO YOU LIKE THE MOST ABOUT WORKING IN AN AUCTION HOUSE?

I am surrounded every day by people that love what they do. My colleagues, both in and outside the Contemporary department, are some of the most passionate, inspiring, and hard-working people that I have ever encountered. The energy is contagious. Not to mention the thousands of objects I get to see, handle, basically live with, every year. And not just Contemporary works… Our office is a rotating museum of Old Master paintings, jewels, photographs, Japanese scrolls, the most beautiful mid-century design objects. I spend most of my waking life in a jewel box essentially. It is a privilege to work at Sotheby’s, so I try to earn it every day. 

Ed Ruscha Broken Pencil In Its Own Light: Collection of Ed Cohen and Victoria Shaw

WHAT ARE SOME OF THE MAJOR AUCTIONS OR SINGLE OWNER SALES OR SPECIFIC LOTS THAT STAND OUT AS HIGHLIGHTS DURING YOUR TIME AT SOTHEBY’S?

The Joni Gordon Sale in 2014 – we sold a rare Vija Celmin’s plane painting (now on view in the SFMoMA show) and achieved a record price for the artist. In 2017, the sale of works from the Collection of Ed Cohen and Victoria Shaw which included the most breathtaking works on paper by Anselm Kiefer, Michael Andrews, and Brice Marden… These weren’t the most high value consignments, or the biggest single owner sales in recent years, but the works were rare connoisseurs’ gems.   

Cecily Brown
Bonus
In Its Own Light: The Collection of Ed Cohen and Victoria Shaw

HOW DOES S/2, SOTHEBY’S GALLERY, WORK IN CONJUNCTION WITH THE SALES DEPARTMENT?  HOW DO YOU DECIDE WHAT THE BEST VENUE WHEN ADVISING A CLIENT INTERESTED IN SELLING A WORK THEY OWN?

Simply stated, when advising collectors regarding auction versus private sale, we need to understand what it is that they value most. For some, privacy and control of the sale process is paramount, and so private sale would be our recommendation. For others, the auction platform, which can present a unique opportunity for upside at a particular moment, is more appealing. With that said, every conversation is highly circumstantial and takes into account any number of factors. One that comes up frequently is depth of an artist’s market in relation to works currently consigned for an auction season (e.g. if we have four Calder mobiles already consigned for auction, we are likely not going to recommend adding a fifth).

Alexander Calder
Art Contemporain
Sotheby’s Paris, June 5, 2019

HOW FAR IN ADVANCE DO YOU WORK ON A FORTHCOMING AUCTION?  DO YOU HAVE A FEW LOTS THAT COME IN THAT ANCHOR A SALE AND THEN SEEK OUT WORKS COLLECTORS MIGHT HAVE THAT WOULD COMPLEMENT THE SALE AND BE ENHANCED BY EXISTING LOTS?

Yes – you nailed it. We generally work on sales six months in advance, but naturally the intensity ramps up about two months out. Roughly half of the sale comes in from collectors who reach out to us directly. The other half we seek out proactively. Based on what has come into the sale in the first few months, we seek out artists and periods that we don’t yet have. We start to create ‘wish lists’ that we work from. If we are a month away from deadline and see that we don’t have a great Joan Mitchell or Donald Judd, we will go out and try to find one. Our wish list changes a bit every season depending on what we know collectors are looking for, and also, opportunities we may see to tell a particular story in an auction season. We look at the ingredients on the table, and then figure out how to make a well balanced meal! 

Joan Mitchell
L’Arbre de Phyllis
Lumieres: The Levy Family Collection
Sotheby’s NY May 16, 2019

IN OUR NEXT LRFA BLOG POST, COURTNEY WILL SHARE HER PERSPECTIVE ON SOTHEBY’S PRESENT AND FUTURE.

PLEASE JOIN US!

AND HAVE A HAPPY AND LONG-AWAITED MEMORIAL DAY WEEKEND!