In a special summer issue of Art+Auction, which will be published in installments on ARTINFO this month, we bring you the information you need to navigate the vast auction market. We’ve assembled the top 250 houses, along with some of their most notable sales, as well as insider takes from 50 CEOs and specialists on the past year and the changes ahead. Below you’ll find Q&As with auction house leaders based in Berlin and Cologne. To see other installments from the special issue, click here.
AUCTIONATA
Berlin, Germany; New York, U.S.
ESTABLISHED: 2012
SPECIALTIES: Watches, wines and spirits, Old Master and modern paintings, Asian art, 20th-century art, Russian fine and decorative art, Japanese art
CONTACT: auctionata.com, info@auctionata.com, +49 30 9832 0222
Alexander Zacke, CEO and Founder
What was your most successful auction in the past year?
In December 2014, we had our first white-glove sale with an auction of Chinese snuff bottles from a Spanish private collection. A handful of bidders in the online auction room fought so fiercely for each and every bottle that the prices climbed up to more than 20 times the estimate for some lots.
Which lot was the most exciting or surprising?
The most exciting lot we offered this year was a Chinese musical and automaton clock from the late 18th century. We knew that it was an outstanding piece that would attract a lot of interested collectors, but when it finally sold for €3.37 million, including buyer’s premium, it exceeded all our expectations. After a 10-minute bidding battle between six bidders, the well- known businessman and investor Liu Yiqian turned out to be the lucky winner. Not only did the clock set a new world record for a work of Asian art sold in an online auction, but it will now also be exhibited in Liu’s museum in Shanghai.
Is there an artist, market, or medium you think is overlooked right now? Something you’d invest in?
Vintage advertising signs.
How have online auctions changed the way you do business?
Online auctions have been a major game changer because they allow bidders from all over the world to participate in an auction, no matter where they are. As the inventor of the live-stream auction, Auctionata’s ambition was to further enhance the customer experience and to transfer the thrill of the auction room into the online sphere and make it accessible for everybody. This has made the auction business faster, more transparent, more convenient, and ultimately more sustainable in the digitized world of the 21st century. At the same time, trust, expertise, and customer service are as important as they have ever been.
What other trends do you see influencing the market?
The number of serious and knowledgeable collectors from certain regions, most notably China, has certainly grown rapidly over the last few years, especially in the online realm. Moreover, the market for luxury collectibles and memorabilia is gaining more and more momentum due to online marketplaces and global collector communities.
What part of your business saw the most growth in 2014?
The luxury segment, especially in the category of classic cars, has grown the most in the past year.
Where would you like to take the company in the next several years?
The sky is the limit! We have built a proven model and are now focusing on becoming the number-one auction house in Continental Europe within the next 18 months. So in the next few years, we could become leaders in any market, any category, and any geography.
What one thing do you wish more collectors knew?
In my opinion, collectors need to focus and build something meaningful.
Do you have a collecting obsession? If so, what purchase are you most proud of?
I have a passion for vintage advertising signboards, historical cash boxes, trunks, and cassettes. One piece I was very proud of was an enamel sign called “Opel- Schaufel,” a signature object from an Austrian collection of signboards. I auctioned it, bought it, and resold it again, but it will always be a favorite of mine!
Have you ever wildly overpaid for something you bought yourself?
Yes, the first—and only—Richter my wife and I purchased, 20 years ago at $300,000.
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BASSENGE
Berlin, Germany
ESTABLISHED: 1963
SPECIALTIES: Books, manuscripts, prints, photography, maps, modern art, paintings and drawings
CONTACT: bassenge.com, info@bassenge.com, +49 30 893 8 0290
David Bassenge, CEO
What was your most successful auction in the past year?
The fall sale for Old Master and 19th-century drawings. The auction featured many high-quality works and was an overall great success. It also produced some world- record results.
Which lot was the most exciting or surprising?
Definitely Shriveled Maple Leaves, a pen and ink drawing by Friedrich Olivier from 1817, which is not only an exceptional piece of the Romantic period but also rose from an estimated €120,000 ($150,000) to €2.6 million ($3.2 million).
Is there an artist, market, or medium you think is overlooked right now? Something you’d invest in?
Drawings in general and 19th-century drawings in particular are a field of growing interest with collectors worldwide. They are still undervalued by market standards, and you can find works of very fine quality for reasonable prices.
How have online auctions changed the way you do business?
They complement our auctions in numerous ways and have made communicating with clients much easier. The collectors are now generally better informed of what is being offered. But the overall experience of buying and selling art is still the same: In the end, most clients seek a long-term, personal, and trusting relationship with the dealer or auction house.
What other trends do you see influencing the market?
There is a notable generation shift with collectors, and we see a rapidly rising interest in all price segments of postwar art with younger buyers. In other segments the clientele is far more specialized today than it used to be, with the occasional buyer being in the minority. The expertise and enthusiasm result in extremely high prices for exceptional pieces.
What part of your business saw the most growth in 2014?
Both the 19th-century art and the modern art departments had a very successful year.
Where would you like to take the company in the next several years?
We are concentrating our strengths in the Old Master and 19th-century department and are refining the offerings to meet the changing interests of the collectors. At the same time we are investing in the postwar and contemporary segment. By further expanding our online activities, we will respond to the demands of a new generation of buyers.
What one thing do you wish more collectors knew?
Trust your own instincts and taste. Try to stay off the beaten track and find your own niche. Be passionate about what you collect.
Do you have a collecting obsession? If so, what purchase are you most proud of?
My collection is very eclectic. I am always fascinated with works that mix genres or intertwine elements of different eras. Generally, it is the latest find that I am most proud of.
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LEMPERTZ
Cologne and Berlin, Germany; Brussels, Belgium
PERSONNEL: Henrick Hanstein, CEO
ESTABLISHED: 1845
SPECIALTIES: Old Masters, African and Oceanic art, modern art, decorative art, photography, Asian art, books
CONTACT: lempertz.com, info@lempertz.com, +49 221 925 7290
Alice Jay von Seldeneck, Partner, and Kilian Jay von Seldeneck, Manager
What was your most successful auction in the past year?
The Contemporary Art Auctions of autumn 2014 and spring 2015.
Which lot was the most exciting or surprising?
Two panels by Matteo Giovannetti depicting Catherine of Alexandria and Saint Anthony the Great, at the Old Masters auction, in autumn 2014. They sold for €2.7 million ($3.4 million), the highest price realized for an Old Master on the German market in 2014.
Is there an artist, market, or medium you think is overlooked right now? Something you’d invest in?
The art market has always been subject to certain fashions, and the focus is currently on contemporary art, which is leading to extraordinary price increases. However, anyone who’s smart enough and has a good eye buys against these cycles. It is currently possible to purchase great items of porcelain, furniture, or silver for excellent prices.
How have online auctions changed the way you do business?
The digital world allows us to interact with our customers on a faster and much more individual basis, an opportunity which we use readily. In the log-in section of our website, customers are able to highlight their interests to create personalized newsletters and catalogues. They can also set artist alerts to let them know whenever a work by a certain artist comes up for auction. All our catalogues are available to read online and in the Lempertz app. In the last few months, these features have established Lempertz as a pioneer in the digitalization of the art market.
What other trends do you see influencing the market?
The art market is also influenced by the increasingly international and professional scope of collectors. Digital progress has allowed us to greatly boost internationalization— by now over 50 percent of our customers are based outside of Germany. The professionalization of private collectors is also becoming increasingly noticeable. These kinds of customers boost auction results with their impressive knowledge and enthusiasm.
What part of your business saw the most growth in 2014?
The contemporary art department increased its profit in 2014 by 45 percent compared to the year before.
Where would you like to take the company in the next several years?
Our international network is one of our firm’s greatest strengths. We constantly seek to improve contact with our customers across the globe through our representatives.
What one thing do you wish more collectors knew?
That auctions are the most promising way to sell and buy items successfully. They are the only platform where supply and demand are so intrinsically linked, and this often leads to impressive price developments.
