{"id":924,"date":"2021-06-25T10:19:39","date_gmt":"2021-06-25T02:19:39","guid":{"rendered":"https:\/\/www.atelierauction.com\/globalupdates\/?p=924"},"modified":"2021-06-25T10:19:39","modified_gmt":"2021-06-25T02:19:39","slug":"aiming-to-tap-european-client-base-sothebys-will-open-private-sale-pop-up-in-monaco","status":"publish","type":"post","link":"https:\/\/www.atelierauction.com\/globalupdates\/artist\/aiming-to-tap-european-client-base-sothebys-will-open-private-sale-pop-up-in-monaco\/","title":{"rendered":"Aiming to Tap European Client Base, Sotheby\u2019s Will Open Private Sale Pop-Up in Monaco"},"content":{"rendered":"<p class=\"text-comp cb-item\">After announcing plans to\u00a0<a href=\"https:\/\/www.atelierauction.com\/globalupdates\/\" target=\"_blank\" rel=\"noopener\">open new sale headquarters in Cologne<\/a>, Sotheby\u2019s is making another move to reach clients in Europe. On Thursday, the auction house announced that it will inaugurate a seasonal\u00a0<a id=\"auto-tag_private-sales\" href=\"https:\/\/www.atelierauction.com\/globalupdates\/\" data-tag=\"private-sales\">private sales<\/a>\u00a0gallery in\u00a0Monaco\u00a0next month. The exhibition space on Avenue de la Costa is the house\u2019s first pop-up space in Europe.<\/p>\n<p class=\"text-comp cb-item\">As the pandemic continues to restrict international travel and large-scale events, mega-galleries and major auction houses are bringing art to exclusive corners of the world frequented by serious buyers. Last year, Sotheby\u2019s and its competitors, Christie\u2019s and Phillips, pivoted attention to the seasonal enclaves of East Hampton, Palm Beach, and Aspen, where high net worth U.S. art collectors flocked during the crisis.<\/p>\n<p class=\"text-comp cb-item\">Now, Sotheby\u2019s is deploying the same strategy in Monaco, where the auction house has held an office for the last five decades. Among the events set to take place there is a blockbuster sale of Karl Lagerfeld\u2019s estate in the fall.<\/p>\n<p>Sotheby\u2019s new space is set to open on July 3, the same day that an Alberto Giacometti show opens at the <a href=\"https:\/\/www.atelierauction.com\/globalupdates\/\">Grimaldi Forum<\/a>. The week after, major players of the international art world are likely to be in town for the Art Monte-Carlo fair.<\/p>\n<p class=\"text-comp cb-item\">The gallery will exhibit modern and contemporary art available for private sale during the summer months. Its first exhibition will showcase works by Pablo Picasso, <a href=\"https:\/\/www.facebook.com\/AtelierAuctionsg\">Francis Picabia<\/a>, George Condo, and Lucio Fontana, among other blue-chip artists, alongside jewelry and other luxury goods.<\/p>\n<p class=\"text-comp cb-item\">\u201cThe launch of our Monaco space marks the next evolution in our strategy to meet collectors wherever they are,\u201d Martin Klosterfelde, Sotheby\u2019s senior director of international private sales, said in a statement.<\/p>\n<p class=\"text-comp cb-item\">Nearly a third of Monaco\u2019s residents are millionaires. The Mediterranean principality is known for its status as a luxury attraction for the ultra-wealthy. It has also gained a reputation primarily as a tax haven, rather than as a serious cultural hub.<\/p>\n<p class=\"text-comp cb-item\">Sotheby\u2019s is following in the path of Hauser &amp; Wirth, which revealed plans to\u00a0<a href=\"https:\/\/www.facebook.com\/AtelierAuctionsg\" target=\"_blank\" rel=\"noopener\">open a permanent space<\/a>\u00a0in Monaco in April. Last week, Christie\u2019s announced plans to mount a contemporary art and jewelry private sale exhibition at a restaurant in Monte Carlo next month.<\/p>\n<p class=\"text-comp cb-item\">Over the past year, with traditional sales rendered more difficult to stage by the pandemic, auction houses have placed a new emphasis on private transactions. According to its 2021 annual sales report, Sotheby\u2019s said it generated $1.6 billion from private sales in 2020, marking a 50 percent increase over its 2019 figure. Likewise, Christie\u2019s reported a total of \u00a3987 million ($1.2 billion) in private sales for the year of 2020, a 56 percent increase over 2019.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Source\uff1ahttps:\/\/www.artnews.com\/<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After announcing plans to\u00a0open new sale headquarters in Cologne, Sotheby\u2019s is making another move to reach clients in Europe. On Thursday, the auction house announced that it will inaugurate a seasonal\u00a0private sales\u00a0gallery in\u00a0Monaco\u00a0next month. The exhibition space on Avenue de la Costa is the house\u2019s first pop-up space in Europe. As the pandemic continues to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":925,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,13,7,4,3],"tags":[],"class_list":{"0":"post-924","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artist","8":"category-auction","9":"category-events","10":"category-gallery","11":"category-latest-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Aiming to Tap European Client Base, Sotheby\u2019s Will Open Private Sale Pop-Up in Monaco - Investable Art Auctioneer<\/title>\n<meta name=\"description\" content=\"After announcing plans to\u00a0open new sale headquarters in Cologne, Sotheby\u2019s is making another move to reach clients in Europe.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.atelierauction.com\/globalupdates\/artist\/aiming-to-tap-european-client-base-sothebys-will-open-private-sale-pop-up-in-monaco\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aiming to Tap European Client Base, Sotheby\u2019s Will Open Private Sale Pop-Up in Monaco - 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