Posted on 23 Dec. 2021 at 10: 38
“ For twenty years that the Anglo-Saxon giants have been auctioning in Paris, they have taken 90% of the very high-end market. But the Hexagon is an attic and the French houses are resisting well ”, notes Nicolas Orlowski, CEO of the French house Artcurial. The two multinational art companies compete for the most prestigious collections, but not the most profitable, and the “middle market”, which has become the favorite terrain of other operators in France, offers better profitability. This preserves the pool of French auctioneers.
If modern and contemporary art represents a huge part of the figures produced in New York, London and Hong-Kong, Paris remains a stronghold for the classic (whether in fine arts, furniture, or decorative objects), primitive arts, jewelry, photography, design, manuscripts, and vintage cars. Less speculative sectors and therefore more consistent in their performance, on which smaller houses have carved out a solid reputation.