The Art Newspaper is reporting that Phillips de Pury will represent photographer Annie Leibovitz. This continues the trend of the major international auction houses blurring the lines between the primary and secondary market. I have discussed this situation in past posts here on the AW Blog. There was Sothebys direct from artist studio to auction sale of Damien Hirst creations and Christies purchase of the Haunch of Venison Gallery.The Art Newspaper states Each large-format print at Phillips will be stamped and signed, and priced at £20,000 ($37,000). The auction house would not disclose what commission it will take from these sales, although it is unlikely to vary dramatically from the usual contemporary gallery level of around 50%. Phillips says no Leibovitz works from its selling exhibitions will be offered at auction. The two strands of the business are completely separate, says Mr de Pury.
The treads continue and the auction houses keep insisting that these business division will remain. This trend is very interesting from the appraisal perspective and how markets are effected, and should by followed and analyzed.
To read the ArtNewspaper article, click HERE.
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