Concierge Auctions’ Post

🏡 A Hot Take on 'La Dune' Auction 🌊 🔥 Concierge Auctions: Yesterday's Antiquity, Today's Trend 💎 💼 Looking under the gavel: The game of luxury real estate 🏆 In the thrilling world of high-stakes real estate, Concierge Auctions has found a way to turn the sale of a house into a glamorous event. Who hasn't wished for an auctioneer in a tux at an open house? But this isn't just Monopoly - it's a high-speed roller-coaster ride where everyone's holding onto their Derby hats. While most of us may never get a chance to bid on 'La Dune' or any other high-rolling property, we can still cheer on the action from the sidelines. So, what do you think of this new trend in luxury real estate auctions? #ConciergeAuctions #LuxuryRealEstate #blog https://lnkd.in/gGd-Afp3

Discover how Sotheby's Concierge Auctions accelerates the way luxury properties are bought and sold in our exclusive Mid-Year #LuxuryOutlook report. Sotheby's International Realty

It's important to acknowledge that business issues that are out of your control inevitably arise. A key takeaway here is to face problems head-on proactively and with transparency. Because that is what you CAN control. #businesslessons #leadership #auctions #business #christies

‘Quiet wealth’ Super-private deals for mansions, art and classic cars are on the rise ‘Quiet wealth’ takes on new meaning with super-private deals for mansions, art and classic cars KEY POINTS ·        Auction companies and luxury real estate brokers say wealthy buyers and sellers are increasingly turning to private sales and off-market listings. ·        Last year, while combined public auction sales for Sotheby’s, Christie’s and Phillips fell by 19%, private sales increased by 4% at Sotheby’s and 5% at Christie’s. ·        “Discretion today is key. People can buy without the whole world staring at them,” said Shelby Myers, global head of private sales for RM Sotheby’s. The rich have taken “quiet wealth” to a new level, turning to private purchases of mansions, art and classic cars designed to avoid attention, according to experts.

What is a luxury home auction and when should your seller consider it? I recently attended a few luxury auctions, and they were great; however, they aren’t for everyone. Today, I’m breaking down why you might want to use an auction and sharing three circumstances when I think an auction house makes sense. First, if your seller wants certainty or they need to see fast…this is a good option. To learn more, check out this video. Learn more: https://lnkd.in/ggmxH67U

What happened to Sotheby’s Marquee sales in Hong Kong, originally scheduled for the end of September 2024? Earlier this summer, Sotheby’s announced two major Marquee auctions in Hong Kong for Fall 2024: the Modern & Contemporary Evening Auction on September 25, and the Modern & Contemporary Day Auction on September 26. These sales were strategically set to take place just before Christie’s 20th/21st Century evening and day sales, also scheduled in Hong Kong on September 26 and 27, 2024, respectively. However, both Sotheby’s auctions have since disappeared from the calendar on the company’s website, with no further updates provided. While Pi-eX still anticipates improved market performance in September 2024, the disappearance of these marquee sales raises concerns about the potential for sustained long-term growth. Image source: Sotheby's website on August 5th, 2024 #Sothebys #Christies #fineart #hongkong #auction #marqueesales #paintings #modern #contempoary

In line with the rather somber performance of the March sales in the British capital, the June auction results further manifest the increasing lag of the London auctions behind the New York sales series. While New York has been the dominant sale location of 20th and 21st century art for decades, ever since the pandemic and the Brexit consequences London’s auctions are notably shrinking in numbers and volume. Continue reading the full report about last week's auctions in London: https://bit.ly/4cC6TAj #ArtMarket #ArtMarketInsights #LondonAuctions

The London Spring sales reached their lowest level since 2009 as total combined auction revenue at Christie’s, Sotheby’s, and Phillips decreased by 13% year on year, from £429m ($550m) in 2023 to £372m ($476m) in 2024. - Both Day and Evening Marquee sales declined by -8% and -22% respectively. - There were no additional single owner private collections nor curated sales to boost revenue. - Only Christie’s Surrealist evening sale saw growth (+52%), spurred on by the celebration of 100 years of surrealism. As the London Spring sales continue to decline, the auction houses are left with the difficult question of what to do next. Source: Pi-eX MESO Report: London Spring Marquee Auctions 2007-2024 #art #fineart #auction #auctionreport #artanalysis #artsales #christies #sothebys #phillips #london #surrealism

Auction Snapshot: Sotheby's Hong Kong Evening Sales - 5th April 2024. The renewed excitement and energy during Art Basel Hong Kong last week failed to spill into Sotheby's two Hong Kong evening sales today, and signals that the market softening felt by Sotheby’s during London’s sales in March, is now also affecting the Asian market. Total sales across The Now Evening Auction and the Modern & Contemporary Evening Auction came in at HK$549.5 million (approx $70.2 million), below the pre-sale estimate of HK$577.3 million to HK$837.1 million, and 52.5% below last year’s total. A total of 8 lots were withdrawn in the two sales, with a total low estimate of HK$69.0 million (accounting for 10.7% of total low estimate pre-withdrawal) Another sign of market uncertainty came in the form of fewer auction guarantees this season, only 5 lots were guaranteed and accounted for hammer sales of HK$119.4 million (21.7% of total hammer sales). This was significantly lower than in April 2023, when 12 lots were guaranteed with a total hammer value of HK$615.1 million (53.1% of total hammer sales). Return on auction guarantees are dwindling, an estimated 2.9% return this season (assuming guarantee level is at the low estimate). This could indicate that risk capital allocated to auction guarantees, are going elsewhere where yields are higher. Trying to ween consignors off the dependency on guarantees could prove challenging and could exacerbate the softening we are currently witnessing. However, there was still significant demand for specific artists and segments. 20th Century Chinese artists were back in vogue, with Zao Wou-ki, Chu Teh-Chun and Wu Guangzong making it into the Top 20 lots sold. There was particularly strong demand for Wu Guangzong, with all of his works selling at or above the high-estimate. Among the young artists, Lucy Bull’s Radiator (2019) sold for HK$4.5 million at the high-end of the estimate of HK$3 to HK$5 million and Robert Nava also sold at the high estimate. However, other young artists such as Jadé Fadojutimi disappointed with Fishing For Steps (2017) selling for HK$1.45 million well below the pre-sale estimate HK$2 to HK$3 million. For full auction analysis see link: https://lnkd.in/eYJB4YZF #art #artauction #sothebys #hongkong #contemporaryart #modernart

What if I told you I could sell your property fast?for FREE. I have 2 options first I can list your property in a property auction, take photos, description and valuation, also look after any viewings. All this for no charge to sellers. The buyers are happy to pay all sellers fees, all you pay is your solicitors costs. Secondly I have a cash buyer who will buy your property and no fees again even paying your solicitors costs, property is bought at 80% of market value, this is good for a fast sale, offer usually in 24 hours. Easy 2 auction Cheshire.The new way to sell your home. John marriott 07536 089114