Art Investment

Auction house Sotheby's goes on the primary art market

As we learned from published press-релиза, Sotheby's Gallery Network — a new ambitious project of the auction house — started yesterday, April 28, 2020. The project involves Sotheby's and eight selected art galleries that sell modern art.

Each of the participants of the "network" (Sotheby's Gallery Network can be translated as, "the Gallery network of Sotheby's"), the auction house provides its own online space, with the possibility of virtual tours. All the galleries work can be bought "here and now" at the publicly announced prices. It is assumed that items worth up to $150 thousand will be purchased in a single payment through the payment service at Sotheby's, while to purchase more expensive items, the buyer can expect special payment terms, which may be requested separately from a representative of the gallery during the discussion of the details of the transaction. The maximum value of works of art that can be purchased today in the galleries of Sotheby's limited to $1.5 million, but this amount may be revised in the future.

currently in the gallery network auction house included new-йоркские gallery Gavin Brown's enterprise, Jack Shainman Gallery, Kasmin Gallery, Lehmann Maupin, Luhring Augustine, Petzel Gallery, Sperone Westwater and Van Doren Waxter.

press-релизе separately noted that, in addition to payment services, Sotheby's provides all items that are sold in the partner galleries, their own a guarantee of quality. In addition, shipping and related services purchased in the galleries works will be provided with forces of Sotheby's.

"as the art world continues to fight and adapt to current circumstances, we are proud that with the help of new online-платформы can support our colleagues-галеристов and, through our partnerships, to offer clients the Sotheby's new and exclusive works of art presented by these world-famous galleries", — said senior specialist of the Department of modern art Sotheby's Sarah Prichert.

Source: sothebys.com


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