Secondary Market             Sourcing Strategies and Building Trade Relationships                                         ...
When Primary and Secondary            Meet Damien Hirst /  Sotheby’s Held the day after  Lehman Brothers  collapsed in S...
Number 8 Titian  Diana and Actaeon,  1556-1559 Private sale, February  2009 $91m                  Number 7 Pablo Picas...
Number 5 Pablo Picasso  Garçon a la Pipe,  1904 Sotheby’s New York  May 2004 $104.1m                 Number 4 Pablo Pi...
Number 2 Willem de Kooning  Woman III, 1952-53 Private sale 2006 $137.5m                  Number 1 Jackson Pollock  Nu...
London Contemporary Art Sales        Private secondary sales Many works not sold  publicly Galleries involved in  both p...
Top 50 Selling Artists at Auction            in 2010 Number 1:      Jean-Michel      Basquiat €30.9m over 70 lots Inter...
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The power of pr b. rawlingson 05.2011

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The power of pr b. rawlingson 05.2011

  1. 1. Secondary Market Sourcing Strategies and Building Trade Relationships by Kimberly Brown Primary Market Gallery works directly on behalf of the artist Gallery and artist split sales 50/50 (usually) Gallery helps manage and shape an artist’s career Secondary Market Gallery does not involve the artist (usually) Gallery does not have to split proceeds with artist (with exceptions) The work becomes more of a commodity, something that is actively bought and sold between dealers 1
  2. 2. When Primary and Secondary Meet Damien Hirst / Sotheby’s Held the day after Lehman Brothers collapsed in Sept 2008 Sale totaled £111m Golden calf £10.3m Highest Prices Achieved Number 10 Francis Bacon Tryptich 1976 Sotheby’s New York May 2008 $86.3m Number 9 Gustav Klimt Adele Bloch-Bauer II, 1912 Christie’s New York November 2006 $87.9m 2
  3. 3. Number 8 Titian Diana and Actaeon, 1556-1559 Private sale, February 2009 $91m Number 7 Pablo Picasso Dora Maar au chat, 1941 Sotheby’s New York May 2006 $95.2m Number 6 Andy Warhol Eight Elvises, 1963 Private sale 2008 $100m 3
  4. 4. Number 5 Pablo Picasso Garçon a la Pipe, 1904 Sotheby’s New York May 2004 $104.1m Number 4 Pablo Picasso Nude, Green Leaves and Bust, 1932 Christie’s New York May 2010 $106.5m Number 3 Gustav Klimt Adele Bloch-Bauer I, 1907 Private sale via Christies, 2006 $135m 4
  5. 5. Number 2 Willem de Kooning Woman III, 1952-53 Private sale 2006 $137.5m Number 1 Jackson Pollock Number 5, 1948 1948 Private sale, 2006 $140m Top 10 Contemporary Houses 5
  6. 6. London Contemporary Art Sales Private secondary sales Many works not sold publicly Galleries involved in both primary and secondary Sourcing Secondary Building the right relationships 6
  7. 7. Top 50 Selling Artists at Auction in 2010 Number 1: Jean-Michel Basquiat €30.9m over 70 lots Interestingly, Chinese artists take 40% of the list 7

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