"As auction houses increasingly lean on the luxury market to offset sluggish art sales, Christie's incoming global head of jewellery, Max Fawcett, is optimistic. The house kicks off its London Jewels sale on Friday, and he predicted it will be "one of the best London sales we've had in a long time," crediting the strength of the pieces offered online, including period jewels worn by Alice, Viscountess Wimborne, in portraits by Sir Cecil Beaton, the Financial Times reports."
"Fawcett said the sale arrives during a "purple patch" for Christie's jewellery division: in June, the company achieved its highest total for a various-owner sale in the Americas-$87.7 million in New York-following a sold-out Magnificent Jewels sale in Geneva in May. Fawcett, who officially steps into his new role on January 1, noted that while sales soared between 2012 and 2014 amid post-crisis exuberance, the following decade proved more challenging. Now, he believes the cycle has shifted again: "We're having our moment.""
"Christie's isn't alone in its success. Heritage Auctions reached a record $9.2 million for a fine jewellery sale in September, while Phillips and Sotheby's hosted major watch auctions in Geneva this week. Sotheby's also reported record jewellery results this year in New York, Paris, and Milan. According to Quig Bruning, global head of jewellery at Sotheby's, demand is now "significantly outstripping supply.""
Christie's incoming global head of jewellery, Max Fawcett, expects a strong London Jewels sale and cites robust online offerings, including period jewels featured in Sir Cecil Beaton portraits. Christie's jewellery division experienced a "purple patch," achieving an $87.7 million various-owner total in the Americas after a sold-out Magnificent Jewels sale in Geneva. Fawcett noted sales surged between 2012 and 2014, slowed over the following decade, and now appear to be recovering. Rival houses reported notable successes, with Heritage Auctions and Sotheby's posting record results, and Sotheby's citing demand that significantly outstrips supply. The Brooklyn Public Library launched an experimental art-lending program placing works by 35 artists throughout its Grand Lobby to encourage everyday encounters with moving images, prints, and sculptural objects.
Read at ARTnews.com
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