BIDDING FOR BEAUTY

Online art auctions are making beautiful local and international art more accessible.

#HelloLifestyle

by Trevor Crighton Images: Supplied

Not all the lessons learned from lockdowns are harsh ones. They taught us that we need to take more time to beautify the spaces we live in and that we need to look at alternative investment vehicles in a market vulnerable to myriad pressures. The result, for many, was to turn to art to solve both problems – which saw online art auctions booming.

“Lockdown pushed everyone into the digital sphere and made bidding and buying artworks online the new norm and, as clients have successfully purchased artwork online and witnessed the benefits of being able to bid remotely, there has been more confidence amongst our clients in using it. I do believe this is the new future for auctions,” says Strauss & Co. specialist, Arisha Maharaj. “Strauss and Co. started online auctions in 2013 and the platform gradually gained traction, but there was an increase in interest in online auctions throughout and after the lockdown period. Lockdown also prompted us to take our live auctions to a virtual always get professional advice if buying art for these purposes,” she says.

The technological influence on art auctions has allowed auction houses to increase the number that can be held, helping build the market for established artists and bringing the works of new artists to the secondary market.

“Being able to host more auctions has allowed us the luxury of having more focused sales around specific artists and themes,” says Strauss & Co. Chairperson, Frank Kilbourn.

“In 2016 Strauss & Co. had a total of ten auctions and in 2022 we have had a record total of 55 auctions, with 6 381 lots being sold at a value of R354 million.”

Auction Appreciation

platform which proved to be very successful and is a platform we have continued to use.”

Maharaj says that art is recognised as an asset and investment class in the financial world, but cautions that not all art is an investment.

“A work’s investment value depends on the artist and the artwork, so it’s essential to

Maharaj says that the art world can seem intimidating, but the option to view works online as part of an auction and do some research of your own is helping make art more accessible. “Online and live auction previews see all the works exhibited in a physical space before going under the hammer,” explains Maharaj. “These exhibitions are a great place for prospective buyers to familiarise themselves with what they like and compare different artists, periods and styles. The secondary art market has the luxury of offering hundreds of different artists with one auction, with a wide choice of mediums, categories, periods and prices.”

She says that there is no such thing as a ‘stupid question’ in the auction space, where auction house employees are passionate about art and enjoy helping and educating prospective buyers and art lovers broaden their knowledge. “Our art specialists are always ready to answer your questions, make recommendations and guide you towards an artwork or collector's piece that will bring you joy. It's also a great idea to visit contemporary art galleries and chat with the curators and owners about upcoming artists making waves in the industry.”

Debunking The Myth

There’s a perception that original art is prohibitively expensive, but Strauss & Co. has sold artworks on online-only auctions for similar prices to those at retail stores. “When you buy an artwork on auction at Strauss & Co. you know one of our art specialists has vetted the provenance, authenticity and value, and that it has proven its market price,” says Maharaj. “Blue-chip artists like William Kentridge, Walter Batiss and Robert Hodgins' art do sell for millions of rands on auction, but their works on paper offer a foot in the door for collectors determined to invest in one of these auction stalwarts, without applying for a second mortgage on their homes.”

She explains that it’s relatively likely that buyers can pick up a good bargain at auction. “There are cases where a seller is eager to sell, so they can place a lower reserve on an artwork. The more seasoned and experienced buyers will be able to identify a bargain at auction. Art auctions can be daunting, especially when you are new to that world and investigating alternative assets to diversify your investment portfolio. Nevertheless, there is no reason to be intimidated, even if you can’t discern a Pierneef from a Portchie or a lithograph from a linocut. Art auctions are more accessible than ever.”

Live and online auctions are run by various auction houses all the time and Strauss & Co. will be hosting online auctions that run 3-10 April and 1-8 May, as well as a Virtual Live Sale in Johannesburg 14-16 May. Visit www. straussart.co.za for details. H

1 www.straussart.co.za

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