Walking Woman (I), by Alberto Giacometti (1901-1966). A bronze with dark brown patina sold for nearly 27.2 million euros by Christie’s in June 2022. (Christie’s Images Limited 2022)
At the top of the podium, Christie’s shows a 20% increase in the amounts awarded for the year 2022, driven in particular by the Givenchy sale, which totaled 118 million euros: “It marked the return of decorative arts in France”, says Cécile Verdier, president of Christie’s France. The success of the dispersion of the Al-Thani collection from the Hôtel Lambert seems to prove him right, with its 75.8 million euros sold last October.
Read alsoChristie’s (Pinault) and Sotheby’s (Drahi) break all their records
But this craze for French decorative arts, mainly from the 18e century, seems to be limited to major collections and fine provenances… No auction house plans to develop this sector without relying on a name or prestigious pieces. “Classic furniture, without provenance, is difficult, asserts Catherine Yaiche, general manager of Bonhams Cornette de Saint Cyr. We will only have two classic sales this year, trying to limit the number of lots.”
The next spectacular dispersion in this area will certainly be that of Jacques Garcia’s masterpieces, scheduled by Sotheby’s on May 16th.
The very good health of luxury
On the other hand, one department will focus all attention in 2023: that of luxury, namely jewelry, watches, wines, cars and, above all, vintage handbags. “We hold the 2022 world record for a bag, with 352,800 euros sold for a Kelly Himalaya from Hermès, rejoices Mario Tavella, and we also won an auction of 1 million for a Cartier Cheich watch, a unique piece from 1983. “
Matte white Kelly Himalaya bag from Hermès. This very rare model was sold for 352,800 euros by Sotheby’s, a world record for a handbag.(Sotheby’s)
The managing director of Sotheby’s France emphasizes that these departments, whose growth follows that of the luxury market on a global scale, constitute an ideal gateway for new clients. Analysis shared by other heavyweights in the art market, which have between 20 and 30% new buyers in 2022, mostly millennials. “We are setting up a larger luxury division, especially around Hermès bags, indicates Cécile Verdier, because that is where the breeding ground for new buyers is located.” As for Bonhams Cornette de Saint Cyr, four sales are already scheduled for 2023.
Pleasing these forty-somethings from all continents is also the goal of design sales, which continue to specialize. “We have more and more buyers looking for furniture between 5,000 and 50,000 euros each. It’s a very dynamic price range,” enthuses Nicolas Orlowski, CEO of Artcurial.
Modern art confirmed its domination, with a record for a painting by Georges Mathieu at Bonhams Cornette de Saint Cyr, or for the Rhinocretaire from the Lalanne collection at Sotheby’s.
The Exile of Go Daïgo in the island of Oki, by Georges Mathieu (1957). The painting was sold for 1.1 million euros at Bonhams Cornette de Saint Cyr, in June 2022. (Bonhams)
Grand Rhinocretaire II, by François-Xavier Lalanne (2002). This gilded patinated bronze was sold for 5.4 million euros at Sotheby’s. (Sotheby’s)
Diversification of themes
Another axis of development, the arrival in France of new themes. And not just any, since many of these sales were previously held in London. “Surrealism and its Legacy”, by Sotheby’s, was displayed in Paris for the first time last year. “Picasso-mania” at Bonhams Cornette de Saint Cyr will also be repatriated to Paris next June. And the big sale of Italian art from Christie’s, established for twenty years across the Channel, will take place in Paris in June 2023.
Read alsoThe (too slow) rise in the popularity of female painters
For the Franco-French houses, the time is rather for the creation of sections or new concepts. The dynamic Millon study is opening two departments this year: one devoted to sports-related memorabilia and the other called “Art and business”. “The more things we try, the more chance we have of finding the Koh-i Nor, but we do not want to be dependent on an exceptional auction to complete our year”, summarizes its president, Alexandre Millon, who specifies that he has chosen to position themselves in the middle range.
At Aguttes, the choice fell on old musical instruments. “It’s more of a return, since these sales existed here at the end of the 1990s. With the Guarnerius violin, sold for 3.38 million last June, we decided to return to this niche”, explains the general manager, Philippine Dupre la Tour. On the other hand, only Artcurial wishes to keep an NFT department and organize new sales (the study only proposed one in 2022). “The Anglo-Saxon houses got carried away on this subject, and then gave up… We believe that there is still a future in this field”, estimates Nicolas Orlowski.
Read alsoAuctions: how Artcurial won a place once morest Christie’s and Sotheby’s
By Clementine Pomeau-Peyre
