Interview with Simon de Pury, head of auction house Phillips de Pur

[LCR]

Art Market globalized

Trazhektuar Magazine, August 2008

Interview with Simon de Pury, the head of the famous auction house Phillips de Pury (Phillips de Pury & Company). He speaks of the magnificent state of the art market, as well as the significant changes taking place currently in the sector art.

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I Simon de Pury has every reason to smile dazzlingly. For three years, as the world's art market is growing steadily. The basis of this growth - especially contemporary art and living artists. According to the annual report of markets "Cyclops", in 2007, the turnover of only one sector of public bidding has reached $ 15 billion, 37%more than in the previous year.

"As for our house, in 2007, our turnover increased by 125%and reached 308 million dollars" - said president of auction house Phillips de Pury & Company. "This semester, the turnover has increased by 95%."

To compete with the two mastodons of the market, Sotheby's and Christie's, auctioneer decided to make Basel a leading position in the field of contemporary art. Parallel Phillips arranges trades for less expensive items (from 500 to 20000 dollars) to emphasize its difference from other auction houses, and attach to collecting works of art a new clientele.

How do you explain the excellent state of health of the market of contemporary art?

Customers greatly increased. Five years ago, the clientele was mostly European or American origin. Now the market is globalized. One example: most of internauts (internet customers), who consulted on our website, comes from developing countries - Brazil, China, India, Russia and Turkey. And it is natural - economic boom is always accompanied by the desire to join the culture. This globalization allows us not to suffer the economic crisis. The most important question: Does this situation will continue in the future? So far, we were relieved to note that people invest in art, believing that it is now - the least risky investments.

How your company is positioned in this context, in particular, compared with Sotheby's and Christie's?

We specialize in contemporary art, design, photography and jewelry. We have become a leader in the art of the past 25 years and, as well as on contemporary Russian art. In parallel we are developing in New York and London, Saturday @ Phillips (Saturdays Phillips, pardon the expression) - trades that offer items with a value of 500 to 20000 dollars, intended for a young audience.

is - a way to create and sozranit new clientele?

Exactly. 90%of the participants - young people who attend the auction for the first time in my life. They can buy skateboards, by promising artists, furniture, watches, jewelry, photography, of course, with an unlimited number of copies. Most of these new buyers are infected "microbe" collectibles and return to us. At these auctions, we are putting samples of all modern art. Incidentally, we often invite musicians to play during the bidding process.

What, in your view, such artists as Jeff Koons and Damien Hirst have become so famous?

Around these names, there is consensus. We are dealing with a charismatic, strong personalities, constantly present in the media and have a great impact on society. Both the artist, which you called, became a reliable value, something like "blue chip" art market. Of course, our auction house, my choice is involved with art dealers and galleries in shaping public taste.

Some works of modern art reached dizzying prices. Is there a risk of a speculative bubble?

I think not. Art Market does not develop vertically. It adapts to the tastes that are constantly changing. The issue of market access is essential, as well as the means available to the buyers. They are interested first and foremost question is: what else is available on the market? Collection of the Impressionists, for example, currently it is impossible to collect.

What kind of work - the most expensive of all, that you sold?

Picasso for 29 million dollars, which I sold in New York ten years ago, when I worked at Sotheby's. Later, I sold a Basquiat painting for 14 million dollars. In both cases we are talking about the auction. In the case of private sale prices may be significantly higher.

as an organizing your work outside the auction?

I am the manager of the auction house (since 2004, Simon de Pury owns a controlling stake in Phillips de Pury & Company). I've been working with experts, I go to artists, collectors and museum staff. Generally, I spend a third of my time in New York, a third in London and the rest of the time - I'm traveling.

What are the common characteristics of your customers?

Our clientele is very diverse. Those who have prospered recently, usually interested in jewelry first, then - the art of their country of origin, and only then they start looking to the international art.

And you yourself are a collector of what type?

I collect pictures, contemporary art and African art. I am also interested in less expensive items, such as coffee mugs with the figures, which have been sold in all airports. In addition, I am passionately fond of music - no less than modern art (in my I-19500 Pode stored products). At our shows always play music from my collection.

Sometimes it be that a collector announces his collection "finished"?

The meeting is never "finished" even when it is exposed. Assembly - a living organism, and the passion for collecting is incurable. Gathering - a creative act, must be perceived personality of the collector, it and has a good collection from the bad.

Simon de Pury was born in Basel in 1951, 1970. He studied at the Academy of Fine Arts in Tokyo on the artist. After graduation, he worked in Bern and Klipshtayna Kornfeld (Kornfeld & Klipstein), and then enrolled in the Institute of Sotheby's. He collaborated with the famous auction house in London, Geneva and Monte Carlo. In the 1980's. He was particularly ekspozitsionerom collection Thyssen - Bornemittsa in Lugano.

In 1986 he became president of the Swiss branch Sotheby's, then - in Europe. Over the following decade, he has managed major Sotheby's auction in Europe - the collection of sales Thurn and Taxis (hurn und Taxis) in Geneva and Regensburg, Margrav (Margrave) in Baden-Baden, and all major Impressionist auction in New York.

In 1997, along with Daniella Luxembourg, he founded the company on technical advice Pury & Luxembourg Art, stationed in Geneva. In 2001 the firm merged with Phillips and began to specialize in the sale of the Impressionists, pre-war art of the twentieth century, modern art, photography and decorative arts of the twentieth and twenty-first century. In 2004, he became the majority shareholder of the company Phillips de Pury.

That is - if I may say so - the official point of view. I talked with the French galereyschitsey, with which I work, and she said that everyone knows, the last trading Phillips had failed and that he had to pay much guaranteed lots that do not leave. But I still decided to put this material, there is a reasonably interesting things.

[Admin]

Сообщение от LCR

I talked with the French galereyschitsey, with which I work, and she said that everyone knows, the last trading Phillips failed ...

Liana, and why they failed - this is something to say?

[Сергеич]

I join issue.
Failed auctions for contemporary art?

[LCR]

Yes, bidding Phillips on contemporary art, they were held, in my opinion, at the very end of June (it is easy to check).

Why they have failed - do not know, but the June and Bonham's auction also been very unsuccessful.
We'll put little article very serious French economic journal AGEFI, which perhaps provides one of the elements of an answer

prices reach peaks, customer confidence falls

[Vladimir]

Сообщение от LCR

Yes, bidding Phillips on contemporary art, they were held, in my opinion, at the very end of June (it is easy to check).

June 29-30. That's what this auction is likely to question: http://artinvestment.ru/invest/event..._tabenkin.html, ie http://www.phillipsdepury.com/auctio...x? sn=UK010408
Yes, Philips has been on contemporary art, which included Russian lots. The auction was passing, not advertised, many Russian buyers simply do not know about it. Moreover, it was in late June, 20-30 June, summer, everything is relaxed. It is said that the auction failed. But I think that this stretch. Rather, he simply took the wrong time. Will fall - there will be visible.