Just a real quick post here. Bloomberg is reporting the Dutch paper Dagbald is claiming the Sotheby's office in Amsterdam will reduce staff by two thirds, and reduce the number of auctions from 10 to 2 per year. The Amsterdam location currently employees about 60 people. According to Dagbald, the strategy is to only have two specialty painting sales in Amsterdam, and channel the remaining decorative and fine art property to London, Geneva, Paris and New York.
This repositioning, in effect makes the Amsterdam office little more than a satellite drop off location for Sotheby's other, larger locations. Late last year, both Sotheby's and Christies stated they each planned on staff reductions and reorganizations. They both are certainly following through on their claims to cut costs in order to survive as the economic stresses continue to hurt the fine and decorative art markets.
To read the Bloomberg article (very short), click HERE.
No comments:
Post a Comment