{"id":13902,"date":"2020-07-10T13:02:56","date_gmt":"2020-07-10T13:02:56","guid":{"rendered":"https:\/\/migrate1.artrights.me\/?p=13902"},"modified":"2021-04-21T15:56:22","modified_gmt":"2021-04-21T15:56:22","slug":"the-strategy-of-online-auction-houses","status":"publish","type":"post","link":"https:\/\/artrights.me\/en\/the-strategy-of-online-auction-houses\/","title":{"rendered":"The strategy of online auction houses"},"content":{"rendered":"<h2 class=\"p1\" style=\"text-align: center;\"><span class=\"s1\" style=\"color: #dd9933;\"><b>LA STRATEGIA DELLE ASTE ONLINE<\/b><\/span><\/h2>\n<h2 class=\"p1\" style=\"text-align: center;\"><strong><span class=\"s1\"><i>The switch from analog to online was quick and forced for the auction houses during the lockdown as well.<\/i><\/span><\/strong><\/h2>\n<h2 class=\"p1\" style=\"text-align: center;\"><strong><span class=\"s1\"><i>But apparently, in order not to give up their passion, collectors have also started to buy works of art with online auctions<\/i><\/span><\/strong><\/h2>\n<h2><!--more--><\/h2>\n<section class=\"content-section full-width with-col cover pb-70 pb-xs-50 rella-no-margin content-section-5a71cb13dc9ff\">\n<div class=\"row vc_row-fluid\">\n<div class=\"wpb_column col-md-12\">\n<div class=\"\">\n<div class=\"\">\n<p class=\"p1\"><span class=\"s1\">The lockdown hasn&#8217;t stopped auction houses that used to auction online mostly<b> wines, luxury and multiples and prints with values of just over $50,000, but during the quarantine period also debuted on the web lots with million dollar figures. <\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">In fact, in the art market <b>paralyzed by the pandemic,<\/b> there has been widespread use of<b> new methods and stratagems to overcome the lack of physicality, adrenaline, the moment of the auction.<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">One of the first to experience<a href=\"https:\/\/www.sothebys.com\/en\/\"><span class=\"s2\"><b> Sotheby&#8217;s<\/b><\/span><\/a><b>,<\/b> which last 29 June proposed the <b>&#8220;multicamera global livestream auction&#8221;<\/b>, where in what has become an <b>&#8220;art marathon&#8221; <\/b>for 74 lots, the hitter <b>Oliver Backer from London and in the middle of an empty room,<\/b> followed <b>the offers received from specialists in New York and Hong Kong<\/b> simultaneously through <b>screens,<\/b> all broadcast <b>live for collectors, enthusiasts and operators.<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Backer has skillfully <b>managed the bids<\/b>, demonstrating such an ability to adapt that <b>the sale of five lots,<\/b> including the <b>triptych of Francis Bacon, sold at $84.6 million and bringing home a total result of $363.2 million. <\/b><\/span><\/p>\n<p><b>.\u00a0<\/b><\/p>\n<figure id=\"attachment_13893\" aria-describedby=\"caption-attachment-13893\" style=\"width: 960px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-13893 size-full\" src=\"http:\/\/artrights.me\/wp-content\/uploads\/2020\/07\/10370_francis_bacon_triptych_inspired_by_the_oresteia_of_aeschylus.jpg\" alt=\"\" width=\"960\" height=\"438\" srcset=\"https:\/\/artrights.me\/wp-content\/uploads\/2020\/07\/10370_francis_bacon_triptych_inspired_by_the_oresteia_of_aeschylus.jpg 960w, https:\/\/artrights.me\/wp-content\/uploads\/2020\/07\/10370_francis_bacon_triptych_inspired_by_the_oresteia_of_aeschylus-600x274.jpg 600w, https:\/\/artrights.me\/wp-content\/uploads\/2020\/07\/10370_francis_bacon_triptych_inspired_by_the_oresteia_of_aeschylus-300x137.jpg 300w, https:\/\/artrights.me\/wp-content\/uploads\/2020\/07\/10370_francis_bacon_triptych_inspired_by_the_oresteia_of_aeschylus-768x350.jpg 768w, https:\/\/artrights.me\/wp-content\/uploads\/2020\/07\/10370_francis_bacon_triptych_inspired_by_the_oresteia_of_aeschylus-696x318.jpg 696w, https:\/\/artrights.me\/wp-content\/uploads\/2020\/07\/10370_francis_bacon_triptych_inspired_by_the_oresteia_of_aeschylus-921x420.jpg 921w\" sizes=\"auto, (max-width: 960px) 100vw, 960px\" \/><figcaption id=\"caption-attachment-13893\" class=\"wp-caption-text\">Francis Bacon Triptych Inspired by the Oresteia of Aeschylus, Bacon: \u00a9 The Estate of Francis Bacon. All rights reserved. \/ DACS, London \/ ARS, NY 2020<\/figcaption><\/figure>\n<p class=\"p1\"><span class=\"s1\"><b><i>The auction houses have therefore initiated a change of course for online sales.<\/i><\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The new sales strategies include the <b>hybrid format<\/b>, a mix of physical presence of the <b>hitter<\/b> and online participation of buyers, in an attempt to recreate the tension of the room.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The result achieved on 2 July last by the<a href=\"https:\/\/www.phillips.com\"><span class=\"s2\"><b> Phillips<\/b><\/span><\/a> auction house, a sale of &#8220;<b>white gloves&#8221;<\/b>, which is very rare for the times, but which saw all <b>25 lots as a buyer, for a total of 41.1 million dollars for the evening auction and 51.3 million dollars for the daytime auction.<\/b><\/span><\/p>\n<p class=\"p2\"><span class=\"s2\"><a href=\"https:\/\/www.christies.com\/\">Christie&#8217;s<\/a><\/span><span class=\"s1\"> doesn&#8217;t stand idly by either, and today, 10 July, there is a big <b>auction entitled <\/b><a href=\"https:\/\/www.christies.com\/auctions\/global-20th-century?PID=en_hp_carousel_1\"><span class=\"s2\"><b>&#8220;ONE A global sale of the 20th century&#8221;<\/b><\/span><\/a>, unique in its kind because it is<b> streamed from four locations around the world: New York, London, Paris, Hong Kong. <\/b><\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">A unique real-time event across time zones, <b>a relay of four consecutive sessions led by the auction house&#8217;s leading auctioneers<\/b>, starting in Hong Kong that aspires to recreate the excitement of evening auctions online with works by <b>Picasso, Lichtenstein and Zao Wou-Ki.<\/b><\/span><\/p>\n<p><span style=\"color: #444444; font-size: 11px; font-style: italic;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-13896\" src=\"http:\/\/artrights.me\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-10-at-10.40.59.png\" alt=\"\" width=\"813\" height=\"491\" srcset=\"https:\/\/artrights.me\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-10-at-10.40.59.png 813w, https:\/\/artrights.me\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-10-at-10.40.59-600x362.png 600w, https:\/\/artrights.me\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-10-at-10.40.59-300x181.png 300w, https:\/\/artrights.me\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-10-at-10.40.59-768x464.png 768w, https:\/\/artrights.me\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-10-at-10.40.59-696x420.png 696w, https:\/\/artrights.me\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-10-at-10.40.59-695x420.png 695w\" sizes=\"auto, (max-width: 813px) 100vw, 813px\" \/><\/span>A screenshot of Christie&#8217;s &#8220;ONE&#8221; auction Online Viewing Room presented during the press conference<\/p>\n<p class=\"p1\"><span class=\"s1\"><b><i>Moreover, a novelty of the last few weeks suggests that the world of auction houses can still give us some surprises.<\/i><\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">In fact, at the beginning of July 2020 <b>Loic Gouzer,<\/b> former Christie&#8217;s specialist, a real <b>rainmaker who led the famous auction where the Salvator Mundi attributed to Leonardo da Vinci was sold,<\/b> seemed to have left the art world behind him two years ago, and yet the dot remained, so much so that he launched <b>the &#8220;Fair Warning&#8221; app,<\/b> nothing less than the <b>typical phrase of the hitter of an auction just before closing the bids and awarding the work of art.<\/b><\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">Gouzer, known by all as &#8220;the daredevil&#8221; of the art market, after leaving the auction house, <b>continued to work as an independent advisor,<\/b> but the pandemic got in the way and it seemed impossible for him to continue selling by video call&#8230; So <b>the experience and a bit of recklessness allowed him to imagine the application FAIR WARNING, a virtual one shot auction platform for the most careful collectors (and millionaires).<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Exclusive access with selection <b>directly made by Gouzer<\/b>, a <b>single work a single lot put up for sale every week with raises as fast as a swipe and millionaire awards at the speed of a click &#8230;<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">These results (while waiting to hear the results of the Christie&#8217;s auction) and the new emerging projects send a <b>strong and positive message to the market, showing how technology can still be a fundamental tool for the art world.<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Sales in theatres will undoubtedly resume, with due caution, but the success of online auctions to date confirms <b>the potential of digital as a parallel channel to develop the art market<\/b>. On the other hand, quarantine has shown that <b>art is the safe-haven asset that best meets our emotional needs even in times of crisis.<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><b><i>And are you ready to find out the results of the upcoming online auctions?<\/i><\/b><\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Auction houses such as Sotheby&#8217;s and Christie&#8217;s are experimenting with online auctions through online viewing rooms with truly amazing results<\/p>\n","protected":false},"author":4,"featured_media":13899,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[252],"tags":[497],"class_list":{"0":"post-13902","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-art-world-en","8":"tag-phillips-en"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Strategy of the Online Auctions | Art Rights Magazine<\/title>\n<meta name=\"description\" content=\"Auction houses such as Sotheby&#039;s and Christie&#039;s are experimenting with online auctions through online viewing rooms with truly amazing results\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/artrights.me\/en\/the-strategy-of-online-auction-houses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Strategy of the Online Auctions | Art Rights Magazine\" \/>\n<meta property=\"og:description\" content=\"Auction houses such as Sotheby&#039;s and Christie&#039;s are experimenting with online auctions through online viewing rooms with truly amazing results\" \/>\n<meta property=\"og:url\" content=\"https:\/\/artrights.me\/en\/the-strategy-of-online-auction-houses\/\" \/>\n<meta property=\"og:site_name\" content=\"Art Rights | Proteggi &amp; 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