Paris takes its place in the global art market

For the four main auction houses, the French capital has returned to the first half of 2015, a crucial check on the world stage. Does Paris has managed to become again a stronghold of the art market ? It took him several years to be no longer only an attic, that came to visit connoisseurs, thus leaving from the finest pieces to be sold in the USA, England or Asia.

The trend has been reversed, except for Drouot (very separate structure, because of its self-financing by the auctioneers, all shareholders of the auction house). There are five new house sales (LeclereDaguerre, Copages Auction, Art Valoremde Baecque) who until 2017 to take the redemption of 7000 shares.

With 73 operators Drouot realized a product sold 192 million without sales of mutual agreements and “after sales”, transactions made after the auction. A decrease of 13% compared to 2014, due to the departure of auction houses as TajanCornette de Saint-Cyr and Piasa. They wished to get a more powerful marketing or on a better shareholding, and a more prestigious auction rooms in the strategic area of Plaine-Monceau or rue Faubourg Saint-Honoré.

Olivier Lange, Drouot CEO speaks about it: “This figure is however qualified. You have to compare the results of those who stayed at Drouot. And in this case, the decrease is limited to 6%. The month of June, he was up 5%, but it will still be difficult to prevent the decline, by the end of the year, despite successful sales to come as the Pierre Bergé library .

The capital was able to regain the confidence of international connoisseurs and lovers. As the buying side, which for Artcurial, account for 75% (25% of Americans) in their volume of transactions, as one of the suppliers, more and more people believe in firepower houses Parisian auction houses. “The success of the French market due to the double impact, says Guillaume Cerruti, president ofSotheby’s France and Europe. Paris has to be a platform where the works do not just leave the country. 22% of batches we sold this semester came from abroad, or roughly one-third in value.

The time to take stock still arouses a war calculations. Applying VAT and integrating its “after sales” and its charity sales, Artcurial announced 115.5 million euros. An increase of 10% compared to 2014.

As for Edouard Boccon-Gibod, CEO of Christie’s France, he states that “Christie’s Paris is now fully integrated in Christie’s world. We optimized the specificity of each sale, which should coincide with a key moment in the cultural life of the capital . All our sales are to tell a story to create a desire.

Waiting for new sales coming in September, the art market will be in holidays in August !
See you in September !

Sources : LeFigaro.fr, “enchères” section.

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