Sotheby’s to Open New Headquarters in Cologne, Increasing Presence in Germany
Sotheby’s already has a giant presence in Germany, with workplaces in Munich, Hamburg, Frankfurt, and Berlin. Quickly, the public sale home will develop its footprint within the nation much more with a brand new headquarters in one among Germany’s main artwork hubs: Cologne.
This fall, Sotheby’s will inaugurate a brand new sale middle positioned on the metropolis’s not too long ago renovated historic Palais Oppenheim, within the neighborhood of Bayenthal. It is going to change into the public sale home’s sixth promoting location in Europe, alongside these in London, Paris, Geneva, Zurich, and Milan.
Sebastian Fahey, Sotheby’s managing director for Europe, the Center East, and Africa, informed ARTnews that the growth in Germany is meant to permit the home to proceed tapping the nation’s high collector base, which he described as “an essential power,” for the public sale home. Via the brand new venue, Sotheby’s is aiming to finally attain collectors in neighboring nations like Belgium and the Netherlands as effectively.
“It’s high-time for the nation to be reworked right into a Sotheby’s promoting middle,” Franka Haiderer, Sotheby’s head of enterprise improvement in Germany, mentioned in a press release.
The Cologne location’s inaugural sale might be held in September, with works by artists equivalent to Otto Piene, Markus Lüpertz, Rudolf Jahns, Adolf Fleischmann, and Walter Ströhe made obtainable for bidding on-line in addition to in individual. In November, the home will public sale works by rising artists below the title “NOW.”
Sotheby’s has tapped Eva Donnerhack, a longtime Sotheby’s Impressionist and trendy artwork specialist, to function head of gross sales in Germany. Barbara Guarnieri and Joelle Romba will head its Cologne and Berlin workplaces, respectively. They are going to work alongside Bastienne Leuthe, who has been appointed as head of up to date artwork in Germany.
Sotheby’s first established an workplace in Cologne in 1982. The German metropolis is dwelling to a wide-reaching community of sellers, in addition to Artwork Cologne, one of many oldest artwork gala’s on this planet.
In 2020, Sotheby’s reported that 40 p.c of its German bidders has by no means earlier than transacted with the home, and that the variety of German shoppers shopping for works from its on-line gross sales tripled up to now yr. In line with the 2021 UBS International Artwork Market report, whereas Germany represents simply 3 p.c of the worth share for world public sale gross sales, its collectors accounted for half of the consumers at on-line artwork gala’s. (It was second solely to the U.S. in that regard.) The report additionally mentioned that Germany accounts for five p.c of the worldwide share of billionaires, whose combination wealth noticed a rise of 20 p.c in 2020.
Sotheby’s isn’t the one public sale home eyeing the area for additional growth. In November, Phillips introduced it was seeking to develop its footprint within the area, appointing a Munich-based up to date artwork specialist, Tobias Sirtl, to give attention to Germany.
With the brand new area in Cologne, Sotheby’s would be the solely main public sale home with a German sale middle.