Arts & Collections: Volume 2, 2018 by Magazine

arts &

COLLECTIONS www.artsandcollections.com

WINE • ART • INVESTMENT • LUXURY PROPERTY • COLLECTABLES • PHOTOGRAPHY Collections Cover 2.18 op3.indd 1

02/05/2018 15:23

MB & F.indd 2

12/03/2018 11:27

MB & F.indd 3

12/03/2018 11:27

Finest Arabian Luxury at the doorstep of Fez Medina 19th century Moorish palace renovated by the finest architects and artists of the country offering 26 Luxury suites, 6 rooms, 450sqm Oriental spa, 2 Restaurants and a panoramic lounge bar with breathtaking views of the largest pedestrian city in the world. The architectural heritage of the palace combined to the attention to detail and inner hospitality of the site holders has turned Palais Faraj Suites & Spa into an iconic place for travellers in search of a genuine and refined experience.

Bab Ziat - Fez Medina - Morocco Tel : +212 535 63 53 56 Fax : +212 535 74 10 26 Email: sales@palaisfaraj.com Website: www.PalaisFaraj.com Palais Faraj.indd 1

28/11/2017 16:50

Contents features

16 26 36 38 42

PAINTING WOMEN BACK IN THE PICTURE

Throughout history, women artists have created some of the most powerful, vivid, liberating and subversive works of art ever made.

PATRON OF THE ARTS

You may have heard of Leonardo da Vinci, Pyotr Ilyich Tchaikovsky and Tracey Emin, but what of the people who financed their careers?

Cover: © photo by Steve Parke, courtesy of Steve Parke and Proud Galleries. Turn to page 36 to read our exclusive interview with Steve Parke, Prince’s in-house creative director. Pictured: A Room Full of Glasses, Chanhassen Arboretum, 1999.

PICTURING PRINCE

Photographer of the stars Steve Parke shares his experience working alongside legendary rock icon, Prince.

CRYPTOCURRENCY: THE FUTURE OF THE ART WORLD?

Parallels abound between cryptocurrency and art, Arts & Collections looks at this relationship and how it’s likely to evolve over time.

in conversation with...julien’s auctions ceo darren julien

Arts & Collections discusses the world of celebrity and entertainment memorabilia with Julien’s Auctions CEO and founder, Darren Julien.

images: © steve parke; proud galleries; christie’s; omega; baselworld; shutterstock

baselworld: WATCHmaking’s biggest stage

Geared towards introducing new models and future trends within the watch and jewellery industries, Baselworld keeps its crown as the key event for timepiece aficionados.

LUXURY INVESTMENT INDEX

RESURRECTING A CLASSIC

AN AGELESS ACCESSORY

68 77 78

A LUXURY HAND-ME-DOWN

One of the world’s most sought-after luxury assets has seen a surge in second-hand sales in recent years.

Arts & Collections investigates the top-performing assets of 2017 and offers predictions for 2018 and beyond.

Arts & Collections investigates the resurrection of Jaguar’s classic D-type model—one that incorporates style, nostalgia and modern flair.

From colour and make to design and personalisation, there are a lot of features that can turn Hermès Birkin bags into valuable assets.

FABERGÉ EGGS: ART CHARTING ROMANOV RULE

Made with precious materials and characterised by exquisite craftsmanship, Fabergé eggs are the ultimate collector’s item.

PROPERTY talks

We speak to Mark Lowham, CEO and managing partner of TTR Sotheby’s International Realty, about the luxury property industry and its investment potential.

A QUICK LOOK AT luxury PROPERTY INVESTMENT

We tap into the most promising neighbourhoods in the world’s greatest cities to determine areas for potential growth and investment.

www.artsandcollections.com

AC2.Contents.indd 5

47 CollectionS 5

02/05/2018 11:42

Regulars 12 21 24 32 62

24 74

72 74

happenings

Bringing you a mix of the high-minded, eccentric, regal, random and unmissable events as we look ahead through 2018.

auction highlights

The record-breaking, the eclectic and the unique; we bring you the latest from the world’s most renowned auction houses.

treasures

Our series highlights a single item of artistry or craftsmanship that is both rare and exquisite.

back from the brink

Bank of America’s Rena DeSisto and the Smithsonian Institution’s Dr Richard Kurin share their perspectives on the Cultural Rescue Initiative and its objectives to preserve art’s identity, heritage and history.

a toast to 2018

Leading London wine merchants Berry Bros. & Rudd offer expert insight into investing in one of the luxury market’s most tangible assets in 2018.

a fashionable stay

From Armani’s colossal eyrie to Versace’s exotic sanctuary, we glance at the best-conceived fashion designer hotels from around the globe.

where to spend it

From Land Rover’s newest model to Louis Vuitton’s personalised smartwatches, discover these must-have items and collectables.

72 images: © christie’s; Bulgari Hotel London; chopard; tate

21 6 CollectionS www.artsandcollections.com

AC2.Contents.indd 6

02/05/2018 11:37

PrivateSea.indd 1

08/03/2018 15:00

ABATE & C SRL.indd 1

19/03/2018 09:58

DamsonMedia Publisher & CEO Kevin J. Harrington Editor Annalisa D’Alessio Sub Editor Kayley Loveridge Art Editor Friyan Mehta

Arts & Collections has partnered with over 120 of the world’s finest luxury and boutique hotels to provide the highest quality coverage of global art and cultural events, as well as auctions of interest and the latest developments in the global art market. It is this blend of interesting and informative editorial that is most appealing to guests at these premier hotels, who have a great interest in admiring and purchasing fine art and collectables.

Staff Writer Phoebe Ollerearnshaw Editorial Assistant Sam Stevenson Production Director Joanna Harrington Production Coordinator Joel Simpson

Arts & Collections’ dedicated website, artsandcollections.com, features detailed information on each of the 120 luxury hotels promoting the publication in their exclusive rooms and suites.

Office Coordinator Adam Linard-Stevens Editorial OFFICE Arts & Collections Suite 2 143 Caledonian Road London N1 0SL United Kingdom Telephone: 020 7870 9090 editorial@damsonmedia.com www.damsonmedia.com

images: © christie’s; sotheby’s; shutterstock

CHICAGO OFFICE Arts & Collections 730 N. Franklin St. Suite 604, Chicago, IL 60654, USA The opinions expressed in this magazine should not be considered official opinions of The Publisher or Editor. The Publisher reserves the right to accept or reject all editorial or advertising matter. The Publisher assumes no responsibility for unsolicited manuscripts, photographs or artwork. IMAGES are sent at the owners’ risk and the Publisher takes no responsibility for loss.

© 2018 Damson Media All rights reserved. Reproduction in whole or in part of any text, photograph or illustration without prior written permission from the Publisher is strictly prohibited. Printed in the UK.

www.artsandcollections.com

AC3-4_It Figures.indd 9

All of the exclusive previews, reviews and expert commentary pieces that appear in the pages of Arts & Collections are also available to view on artsandcollections.com. In addition, the website provides a directory of upcoming auctions by Sotheby’s and other top auction houses, plus exhibitions and popular cultural events, keeping visitors fully informed, as well as providing a comprehensive resource area for collectors and connoisseurs.

Arts & Collections is published quarterly and is available on subscription for €40 (Europe) or €45 (worldwide) per annum including post and packaging. Please email editorial@damsonmedia.com for further details regarding subscriptions.

It Figures... 180 artworks

will make up the Louvre’s Eugène Delacroix retrospective commemorating the centenary of the artist’s death. Pages 12-15

17 century th

Around this time, work began on the Cappella dei Principi, a collaboration between designers and patrons. Pages 26-28

1937

The year Picasso painted Femme au Béret et à la Robe Quadrillée, which recently sold for £49.8m at a Sotheby’s auction. Pages 21-24

£46,000 The amount a single bottle of Château Lafite-Rothschild (vintage 1908) sold for at a Christie’s auction. Pages 62-63

£32.2bn

£267,000

The U.K. luxury industry contributes this much in sales to the economy, amounting to 2.2 percent of GDP. Pages 54-58

An extremely rare Nicotilus crocodile Hermès Birkin sold for this recordbreaking amount at a Christie’s auction. Pages 64-65

CollectionS 9

02/05/2018 15:24

Sirenes artwork has been described as “Mastery of chromatic dynamics as vibrant and yet gentle as the music of Ravel” and “with a finesse that calls to mind the 19th century British painter J.M.V Turner.” Sirenes has also been categorised as one of the UK’s top contemporary artists. Her artwork has been exhibited in Beijing and Shanghai in the east and Los Angeles, New York and Miami in the west. Her artwork Roma - Amor was exhibited at the prestigious 56th Art Biennale in Venice and her artwork has been exhibited on giant posters in the London underground and in New Orleans. Sirenes has been featured in luxury and art magazines such as the Victoria & Albert Museum’s magazine, Tate Etc. magazine, Guards Polo Club’s 60th Annual Yearbook Diamond Edition, ORACLE, Tempus and Vogue. Sirenes has been represented by galleries in New York, Miami, Milano and Vienna.

Online gallery: www.sirenes.no E: post@sirenes.no T: +47 47 88 98 41 Sirenes Fine Art.Rev2.indd 1

25/04/2018 14:53

Editorial

A Passion for Investment

The recent delicate economic climate hasn’t done much to deter savvy collectors from investing in tangible assets

[l-r]: Jaguar Land Rover E-type Zero, a new sports car featuring a fully electric powertrain. An extremely fine, rare and historically important 18-carat gold perpetual calendar chronograph wristwatch with moon phases. Signed Patek Philippe & Co, Geneve. Offered at a Christie’s auction in Dubai, the watch fetched $912,500. Below: René Magritte Le Groupe Silencieux, 1926 Oil on canvas 120 x 80 cm.

Images: © jaguar land rover; The national gallery london, christie’s

www.artsandcollections.com

AC5.Editorial.indd 11

nvesting in your passions can be extremely rewarding. However, contrary to popular belief, the practice of investment isn’t just another fad—collecting has been around for centuries and actually dates as far back as the Victorian and Edwardian times. Watches, jewellery, classic cars, antique furniture, wine and fashion. Each of these passion assets have their own dedicated departments in auction houses throughout the world. While it’s difficult to predict investment trends within this facet of the market, a few things seem to go unchanged. Accessories such as jewellery and watches are timeless; their popularity with discerning collectors never wanes and their demand remains largely constant. Similarly, wine is a commodity enjoyed by almost all. In this issue of Arts & Collections, we focus on investment trends for the coming year. We analyse past performances in the tangible asset market and try to establish what collectors should be on the lookout for in the near future through expert comment. Turn to page 60 to read about Jaguar Land Rover’s venture into classic car revival. Learn about the collectability of Hermès Birkins (page 64) and the return potential of Old World versus New World wines (page 62). In terms of fine art, auction houses continue to enjoy recordbreaking sales. This is, perhaps, because fine art never ceases to stir up emotional responses and connections with onlookers. Among the most breathtaking auction results of this season is an eclectic Picasso, an extremely rare Patek Philippe timepiece and a dreamy Magritte—turn to page 21 for more stellar figures achieved by the likes of Christie’s and Sotheby’s around the world. •

CollectionS 11

02/05/2018 11:07

collections // events

Happenings Bringing you a mix of the high-minded, eccentric, regal, random and unmissable events as we look ahead through 2018 By Phoebe Ollerearnshaw Machined aesthetic

Images: © de young museum of fine arts, san francisco

A large-scale survey is set to appear in the de Young Museum in San Francisco this March, presenting 100 masterworks of American Precisionism. Precisionism was the first indigenous modern art movement in the United States; it emerged in the teens and gradually blossomed until the 30s. Artists of the movement shared a common concern about the direction of modernisation, fearing its repercussions. This apprehension materialised in the form of urban, industrial and pastoral subject matter, all of which were prevalent within the precisionist portfolio. It is, perhaps, this element that makes the precisionist movement applicable to today’s society. As we enter into what could be described as a fourth industrial revolution—one where technology created by humankind is gradually replacing human labour— naturally, some attendees may identify with the works on display. Influential modernists to appear within the exhibition include Charles Sheeler, Georgia O’Keeffe and Charles Demuth. Cult of the Machine will show until 12 August 2018. It explores the intricacies, origins, intellectual concerns and aesthetics of this unique strand of early American Modernism.

Right: Edmund Lewandowski Dynamo, 1948 Oil on canvas 91.7 x 78.5 cm Flint Institute of Arts © Estate of Edmund Lewandowski.

12 CollectionS www.artsandcollections.com

AC5.Happenings.indd 12

02/05/2018 08:31

Events // collections

Depicting humanity A fascinating new retrospective, titled All Too Human: Bacon, Freud and a Century of Painting Life, will be held at the Tate Britain in London this spring. The show revolves around some of the most celebrated painters in Britain who made it their goal to capture the nature of life through stark and powerful imagery. Depictions of human figures, their relationships and their surrounding environments are used to convey these sentiments. As the title suggests, Francis Bacon and Lucian Freud feature heavily within the exhibit. Fellow artists to appear within the exposé include Frank Auerbach, Paula Rego and Jenny Saville. These visionaries used paint to fix the visible world onto the canvas and represent life as they saw it. A prime example of this is Rego’s The Family (1988) which was painted during her husband’s battle with multiple sclerosis. At first glance the scene could be misconstrued as a family feud but, in fact, the family members are assisting their father into bed. The exhibition will display until 27 August 2018. Left: Jenny Saville Reverse, c.2002-3 Oil paint on canvas 2134 x 2438 mm.

Images: © Jenny Saville. Courtesy of the artist and Gagosian; © RMN-Grand Palais (musée du Louvre) / Michel Urtado

Romantic revolution In collaboration with the Metropolitan Museum of Art in New York, the Louvre in Paris will hold a historic exhibition to celebrate Eugène Delacroix— one of the most prolific French painters of all time. The collection will guide visitors through 180 of his works, charting the entirety of his career. As the leading exponent of Romanticism and an observer of the optical effects of colour, it didn’t take long for Delacroix to solidify his legacy. A revered painter and muralist, his application of expressive brushstrokes influenced the work of the impressionists. Visitors of the collection will have the opportunity to familiarise themselves with this engaging character, whose ardent passion for his work and hunger for fame led him to seek individuality through meaningful art. The exhibit will remind attendees of Delacroix’s most famous work, Liberty Leading the People (1830)—a stirring image of Parisians taking up arms in the revolution against Charles X. Meanwhile, it will aim to acquaint art lovers with lesser-known religious pieces and poignant landscapes from the artist. The collection will remain at the Louvre from 29 March until 23 July 2018.

www.artsandcollections.com

AC5.Happenings.indd 13

Above: Eugène Delacroix July 28, 1830: Liberty Leading the People, 1830 Oil on canvas 260 x 325 cm Musée du Louvre, Paris.

CollectionS 13

02/05/2018 08:31

collections // events

Love, fame, tragedy The Tate Gallery in London proudly presents Picasso 1932—Love, Fame, Tragedy; a collection that promises to be one of the institution’s most wondrous retrospectives to date. Displaying from 8 March until 9 September 2018, this event marks the gallery’s first-ever solo Pablo Picasso exhibition. The display delves into the artist’s gritty back story and the meaning behind some of his most famous works. More than 100 of the auspicious artist’s drawings, paintings and sculptures will display alongside rarely seen family photographs, issuing a glimpse into his personal life. Three paintings—created over a fiveday period in 1932—will be reunited for the first time since their inception. They depict Picasso’s lover, MarieThérèse Walter, and are central to the exhibit’s narrative. Each portrait tells a fascinating story of lust, love and betrayal. The year 1932 also marks a significant period of political turmoil that undoubtedly affected Picasso’s work. The Great Depression brought with it immeasurable pressures—ones that can be seen clearly within the artist’s rich and complex motifs.

Images: © tate

Left: Pablo Picasso La Rêve (The Dream), 1932 Oil on canvas 130 x 97 cm Private Collection.

14 CollectionS www.artsandcollections.com

AC5.Happenings.indd 14

02/05/2018 08:31

Events // collections

Mysterious monuments This spring, the National Gallery in London bestows a landmark show upon its culture-hungry visitors and guests. For the first time in more than 20 years, an exciting new exhibition purely dedicated to Claude Monet will reside in London. The Credit Suisse Exhibition: Monet & Architecture will display from 9 April until 29 July 2018 and will look at the artist’s work from a refreshingly new perspective. In most circles, Monet is best remembered for his depictions of visceral landscapes, billowing seas and tranquil gardens—the National Gallery aims to change this. With 75 works of art, the institution asks visitors to consider Monet’s attitude towards architecture through the ages. The display begins by mapping his youthful depictions of the suburbs of Paris and leads to his mature representations of Venice and London. More specifically, the retrospective will be divided into three sections: ‘The Village and the Picturesque’, ‘The City and the Modern’ and ‘The Monument and the Mysterious’. Almost a quarter of the artwork included within the exhibition is rare and relatively unknown to the public and has been sourced from private collections. Right: Claude Monet La Cour d’Albane, 1892 Oil on canvas 92 × 73 cm Smith College of Art Northampton, Massachusetts Gift of Adeline Flint Wing and Caroline Roberta Wing.

IMAGES: © Smith College of Art Northampton, Massachusetts; Staatliche Museen zu Berlin, Nationalgalerie / Andres Kilger

Wanderlust

Above: Karl Eduard Biermann Das Wetterhorn, 1830 Oil on canvas 294.6 × 353.1 cm.

www.artsandcollections.com

AC5.Happenings.indd 15

Mankind’s innate desire to travel, seek adventure and explore new horizons—this is the central motif flowing through Alte Nationalgalerie’s exhibition in Berlin, Germany. The show concentrates on the importance of ‘getting back to nature’ to artists of the 19th century. In response to rapid social change, catalysed by the French Revolution, new world attitudes began to develop in this period—ones that are still recognisable today. From an artistic standpoint, wandering became a representation of self-growth, symbolic pilgrimage and life’s journey. These sentiments are communicated through the work of artists such as Caspar David Friedrich, Karl Friedrich Schinkel, Ferdinand Hodler and Paul Gauguin—all of whom will feature within the display. The exhibition is arranged in themed sections, beginning at ‘The Discovery of Nature’ and ending at ‘Landscapes of Wandering on Both Sides of the Alps’. Loans from several international museums have been pooled together with selected pieces from Nationalgalerie’s existing collection, culminating in 100 artworks on the topic. Wanderlust: From Caspar David Friedrich to Auguste Renoir will show between 10 May and 16 September 2018.

CollectionS 15

02/05/2018 08:32

COLLECTIONS // ART

Painting Women Back in the Picture

Throughout history, women artists have created some of the most powerful, vivid, liberating and subversive works of art ever made, yet their creations have been wildly understudied in comparison to their male contemporaries By Kayley Loveridge

n 2015, four women artists were counted among the top 50 bestselling artists across Sotheby’s and Christie’s—that’s a tiny eight percent. Just as dispiritingly, a mere 35 percent of the collection on display at London’s Tate Modern can be accredited to women. For centuries, ‘Anonymous’ was often the pseudonym belonging to female artists, writers and creatives. It’s only within the last 100 years or so that the legacy of women artists throughout history has gained heightened recognition and reverence in art galleries and museums.

Artemisia Gentileschi (1593-1653)

IMAGES: © wikimedia commons (public domain)

Italian Baroque painter Artemisia Gentileschi is well-known for her feminist oeuvre, depicting strong women who dominate violent scenes of suicide, battles and murders derived from the Bible and Greek myths. This recurring theme of patriarchal defiance manifested promptly after having been raped by her father’s colleague Agostino Tassi in 1612. The traumatic seven-month trial which followed was widely publicised and hugely turbulent for young Gentileschi, who suffered gynaecological torture to determine whether or not she was a

Right: Artemisia Getileschi Judith Slaying Holofernes, c.1614-20 Oil on canvas 158.8 x 125.5 cm.

16 CollectionS www.artsandcollections.com

AC6_Women Artists.Rev1.indd 16

02/05/2018 08:33

art // collections

virgin at the time of the attack (because there’d be no case if she had already lost her ‘virtue’). One of the artist’s most memorable and haunting paintings, Judith Slaying Holofernes (c.1614-20), recounts a scene from the Old Testament in which enemy of the Israelites, Holofernes, is being slain by Judith, his divinely appointed assassin. Judith is aided by another woman, who holds the victim down while she drives a sword through his neck as blood spills. The man in the scene is arguably not only Holofernes, but a visual representation of Tassi, and she, Gentileschi, Judith driving the sword through his neck. Gentileschi enjoyed unusual success during an era in which women weren’t in possession of many rights, but her family’s status and wealth held her in good stead to acquire patronage from the esteemed Medici family in Italy. The Medicis also financed some of the most renowned and highly revered Old Masters of the time, including Leonardo da Vinci and Michelangelo Buonarroti. Gentileschi’s art was a sensational devotion to women during her time and can be easily translated into a representation of the modern gender disparities women still face today. The painter is considered in the artistic arena as among the most progressive and expressive artists of her time.

Above: Berthe Morisot xxx xxxxxxxx x xx xx xxxx xx x xxxx x xxxx xxx xx x xxxxxxxxxxxx.

IMAGES: © wikimedia commons (public domain)

Louise Élisabeth Vigée Le Brun (1755-1842) Louise Élisabeth Vigée Le Brun—or Madame Lebrun, as she was widely known—was a highly fashionable Parisian portraitist during the 18th century. Le Brun, whose style sits comfortably somewhere between the delicate Rococo and Neoclassicism movements, was initially taught to paint by her father Louis Vigée, a portraitist and fan artist. Her ability to create flattering and elegant portraits earned the French painter early success and an impressive portfolio of wealthy clientele from both royalty and the aristocracy. Le Brun painted the likes of Duchesse de Polignac and Madame du Barry, but the most notable subject in her paintings is the bodacious queen Marie Antoinette, whom she painted no less than 30 times. Le Brun fast became the

www.artsandcollections.com

AC6_Women Artists.Rev1.indd 17

queen’s favourite as her works depicted her in a favourable and relatable light to the French public, whose opinion of her was waning. In 1774, after her studio was confiscated for painting without a licence, the artist was accepted into the painter’s guild of the Académie de Saint-Luc—no mean feat for a woman. In later years as the French revolution took hold of France, the Parisian artist’s

Above: Louise Élisabeth Vigée Le Brun Self Portrait in a Straw Hat, c.1782 Oil on canvas 97.8 x 70.5 cm.

CollectionS 17

02/05/2018 08:33

COLLECTIONS // ART

National Gallery in London and the Metropolitan Museum of Art in New York.

Berthe Morisot (1841-1895)

Above: Berthe Morisot The Pink Dress, c.1870 Oil on canvas 54.6 x 67.3 cm.

A leading figure in the impressionist movement, French-born Berthe Morisot’s exquisite depictions of middle-class life earned her an illustrious career. Finding success in the art arena at the tender age of 23, Morisot’s work was accepted into the prestigious state-run art show, The Salon de Paris, in 1864. So momentous was the privilege, that not even some of the most admired male members of the impressionist movement were given the

IMAGES: © shutterstock

close relationship with the royal family proved to be problematic. When the royal family was arrested, Madame Lebrun fled France with her daughter and spent many years working and living throughout Europe in countries like Italy, Austria and France. Thankfully, her previous experience enabled her to continue working and earning money as a painter while she was in exile. Le Brun was finally able to return to her native country in 1804 during the reign of Napoleon I. Her paintings now have homes in some of the most prestigious art galleries in the world including the

18 CollectionS www.artsandcollections.com

AC6_Women Artists.Rev1.indd 18

02/05/2018 08:33

art // collections

opportunity. Morisot’s work would feature year-on-year at the Salon, but in 1873 she decided—bravely, at the time—to exhibit with the independent exhibition run by artists whose works were rejected by the Salon, despite the potential harm to her career and reputation. As a woman, the impressionist was limited in her choice of subjects and as such was barred from painting brothel scenes, cabarets and bars. Instead, the painter delved into the more intimate side of feminine life, painting nudes, still lifes, women in social situations and dreamy landscapes. It was in 1868 that Morisot met Édouard Manet, commonly referred to as one of the forefathers of the impressionist movement. Morisot later married Manet’s younger brother Eugéne; a companionship that would provide enough financial stability to allow Morisot to continue painting professionally. Morisot created her paintings using numerous media including oils, watercolours, pastels and pencil sketching. Her most famous works include The Mother and Sister of the Artist (1869-70) and Woman at Her Toilette (1875-80). As is often the way with revolutionary artists, Morisot never found commercial success during her lifetime and most of her works were found in her studio after her death.

IMAGES: © Georgia O’Keeffe Museum [L.1996.03.002]

Georgia O’Keeffe (1887-1986) In 2014, Georgia O’Keeffe’s painting, Jimson Weed/White Flower No. 1 (1932), smashed previous auction sale records at Sotheby’s, raking in a staggering £28.8 million—and the sale is no fluke. O’Keeffe’s paintings have been stacking up the pounds for decades, both throughout her living career and beyond. Accredited as one of the first American artists to practice pure abstract painting, the 20th-century artist is high on the list of the world’s most revered women artists of all time. O’Keeffe is perhaps most well-known for her depictions of flowers and vivid desert landscapes. Having spent a lot of time in the New Mexico desert, the artist found new subjects to paint: weathered, sun-bleached animal bones. The bones and skulls are the focus of some of her

www.artsandcollections.com

AC6_Women Artists.Rev1.indd 19

most popular works including Cow’s Skull: Red, White and Blue (1931). O’Keeffe began her professional artistic training at the School of the Art Institute in Chicago in 1905 and later at the Art Students League of New York. After completing her education, she worked as an illustrator and an art teacher in Texas until she was introduced to the philosophies of American painter Arthur Wesley Dow. It was upon discovery of Dow’s work that O’Keeffe’s own art career would flourish and develop into the modernist masterpieces we are familiar with today. O’Keeffe is immortalised by the Georgia O’Keeffe Museum in Santa Fe, New Mexico. •

Above: Georgia O’Keeffe Petunia No. 2, 1924 Oil on canvas 36 x 30 in Georgia O’Keeffe Museum Gift of The Burnett Foundation and Gerald and Kathleen Peters © Georgia O’Keeffe Museum [L.1996.03.002].

CollectionS 19

02/05/2018 08:34

FROM THE HEART OF THE SWISS ALPS Artisan carpentry is still practiced in the idyllic Simmental valley of Switzerland. Our pride in masterful craftsmanship is reflected in each custom kitchen we deliver. We find our inspiration in the raw beauty of the local landscape with its majestic mountains and untouched valleys. Whether our kitchens are installed in a modern penthouse or a cosy chalet, our customers witness our passion to make their individual design dreams come true with a unique kitchen. ZbĂ¤ren kitchens are made from the best quality materials and manufactured with a combination of first class craftsmanship and our state-of-the-art machinery. Our workshop in the heart of the Swiss Alps delivers custom-made kitchens to homes across the world.

Visit one of our showrooms in Bern or SaanenmĂśser www.zbaeren.ch | +41 (0)33 744 33 77

Zbaeren Kreativekuechen AG.indd 1

01/12/2017 14:27

news // collections

Auction HIGHLIGHTS The record-breaking, the eclectic and the unique; we bring you the latest from the world’s most renowned auction houses By Phoebe Ollerearnshaw

IMAGES: © sotheby’s

Dreamlike abstraction The Architect’s Home in the Ravine (1991) by Peter Doig fetched £13.2 million at a recent Sotheby’s Contemporary Art Evening Auction. A fine example of Doig’s early oeuvre, The Architect’s Home in the Ravine depicts the home of Eberhard Zeidler, situated in the suburb of Rosedale in Toronto, Canada. This piece was one of only four works that were selected by the artist to be part of an exhibition at the Whitechapel Gallery in 1991. It was later chosen to display at the Gesellschaft für Aktuelle Kunst in Bremen, Germany in 1996—Doig’s first major institutional show. While the house is in plain view, it is physically inaccessible to the onlooker. The piece incorporates elements of abstraction and representation, giving it a dreamlike air. The rich texture has been rendered using impasto (a technique whereby paint is layered thickly onto the canvas so as to stand out), which is seen across the expanse of the canvas. 

www.artsandcollections.com

AC7_Auction Highlights.indd 21

CollectionS 21

02/05/2018 08:35

collections // news

Bronzed legacy As part of its Impressionist and Modern Art Evening Sale, Sotheby’s have auctioned one of Alberto Giacometti’s ornate chandeliers—Lustre avec Femme, Homme et Oiseau (1952). Offering the rare opportunity to own one of just three bronze cast chandeliers made by the artist in 1952, the bidding reached an impressive £7.6 million. Lustre avec Femme, Homme et Oiseau was originally commissioned in 1948 by Louis Broder, a Swiss publisher who specialised in printed editions of work by artists such as Picasso and Joan Miró. Balanced upon the four-branched chandelier is ‘the standing woman’ and ‘the walking man’—pivotal figures in the artist’s iconography. Being more sculpture than light source, the piece is reflective of the artist’s existential interest in human suffering. The work also intertwines themes of isolation and the peculiarity of male and female relationships. Thomas Bompard, head of the Sotheby’s auction, remarked: ‘This beautiful chandelier by Alberto Giacometti is the tangible coming together of visual arts, decoration and theatre.’ 

Revelation and self-evaluation

22 CollectionS

AC7_Auction Highlights.indd 22

IMAGES: © sotheby’s; christie’s

Andy Warhol’s Six Self Portraits (1986), created just months before the artist’s sudden death in 1987, achieved £22.6 million at a recent Christie’s sale. Leading the record-breaking Post-War and Contemporary Art Evening Auction, Warhol’s rare masterpiece stole the show. Warhol was an American artist and a leading figure in the Pop Art movement. His artistic practice was underpinned by an innate fascination with sudden death and mortality: as if pre-empting his untimely passing. The artist would often represent himself within his work, in ways that were both revelatory and elusive. Six Self Portraits, an acrylic and silkscreen ink on canvas, depicts six variations of Warhol’s iconic ‘fright wig’ portrait. Warhol’s enhanced features and synthetic wig are cast in a blaze of colour against a pitch-black background. His gaunt expression is intensified by the contrast of light and shade, conjuring the vague resemblance of a skull. Being one of his last artistic gestures in silkscreen to remain intact, the present work is considered to be exceptional. 

www.artsandcollections.com

02/05/2018 08:35

news // collections

IMAGES: © sotheby’s

Golden muse Pablo Picasso’s powerful Femme au Béret et à la Robe Quadrillée (1937) dominated the floor at the Sotheby’s Impressionist and Modern Art Evening Sale in February. The intense portrait depicts Marie-Thérèse Walter, Picasso’s ‘golden muse’. Setting a new auction record for any painting ever to be sold in Europe in pounds, the artwork fetched an astonishing £49.8 million. This marks the first time that the painting has been sold on the market, having previously been part of a private collection. Picasso is commonly regarded as one of the most influential artists of the 20th century, working in an unprecedented variety of styles. The women in Picasso’s life were pivotal to his creative genius and this painting is no exception. The portrait charts the artist’s evolving relationship with his inspiration and the emerging infatuation with his mistress, photographer Dora Maar. Picasso’s feelings for the two women are expressed through a dramatic colour palette, sitting in front of a shadowy silhouette of a second profile that looms menacingly from behind. His employment of sharp lines, cubist angles and thick black edging make for an emotional and impactful outcome. 

www.artsandcollections.com

AC7_Auction Highlights.indd 23

CollectionS 23

02/05/2018 08:35

collections // news

Treasures Our series highlights a single item of artistry or craftsmanship that is both rare and exquisite

ing Farouk of Egypt’s Patek Philippe watch sold to an unidentified buyer for $912,500 at a Christie’s auction in Dubai this March. The watch, which was made for the king in 1944 when he was just 25 years old, sold after nearly five minutes of intense bidding. It fetched a record sum for a timepiece auctioned in the Middle East. The 18-carat gold timepiece was estimated to be worth as much as $800,000 by the auction house, which concluded its 23rd season in the region. King Farouk was just 16 years old when he was crowned king of Egypt and Sudan in 1936. Known for his lavish lifestyle, he was deposed in a military coup in 1952 at age 32 and forced into exile. His son, King Fuad II, was the last king of Egypt. The king had commissioned many of the greatest watchmakers at the time to create one-of-a-kind timepieces for him, such as the Patek Philippe, Ref. 1518, which was launched in 1941. The Patek Philippe, Ref. 1518 is a timepiece celebrated as the first perpetual calendar chronograph wristwatch to be produced in a series by any watch company. It is said that only 281 such pieces were created. •

Questioning reality

IMAGES: © christie’s

René Magritte’s Le Groupe Silencieux (1926) is representative of his early surrealist style. It is the first in a series of oil paintings that Magritte made for his first solo exhibition in Brussels in the spring of 1927. This was a critical moment in the artist’s career, marking him as one of the finest surrealist painters of the era and a new talent within the European Avant-garde art scene. Le Groupe Silencieux was recently sold at Christie’s Art of the Surreal Evening Sale, where the painting realised £7.2 million. The Belgian artist was well-known for his thought-provoking and often satirical imagery. Magritte would often challenge his audience’s perceptions of reality, which is certainly the case with Le Groupe Silencieux. The objects within this piece are presented in a dry manner, with a strong sense of detachment. The painting fuses still life and landscape in an unusual network of layers and frames, providing it with a multi-faceted feel. 

www.artsandcollections.com 24 CollectionS

AC7_Auction Highlights.indd 24

02/05/2018 08:46

Northcroft Limited.indd 1

27/10/2017 09:10

COLLECTIONS // arT

Patron

of the Arts You may have heard of Leonardo da Vinci, Pyotr Ilyich Tchaikovsky and Tracey Emin, but what of the people who supported and financed their careers? By Maria Mellor

Above: An enchanting view of the Princes Chapel’s octagonal dome in the Basilica of St Lawrence in Florence, Italy.

26 CollectionS

AC8_Art Patronage.Rev1.indd 26

www.artsandcollections.com

02/05/2018 08:37

aRT // COLLECTIONS

rt is a famously difficult industry in which to gain wealth quickly. The trope of the ‘struggling artist’ exists for a reason—it’s hard for creatives to find the time to perfect their style and build their skillset whilst also supporting themselves financially. Most of the greatest painters of all time had patrons who supported them throughout their development and helped them to build the fame they hold today. It takes two things to be a successful art patron: money and influence. Centuries ago, this meant having status in society, being an aristocrat, a member of the royal family or even an important figure in the church.

The Renaissance Lorenzo de’ Medici was the most influential patron of the Italian Renaissance. He was the Lord of Florence from 1469 to 1492; during that time, Medici provided support to those who would become the biggest names of the period: Sandro Botticelli, Leonardo da Vinci and Michelangelo Buonarroti, to name a few. Medici had an existing appreciation of the arts thanks to his family; his father was an art collector and patron, while his mother was a writer of poetry and plays. Medici gained a vast reputation throughout history for his patronage. Da Vinci once wrote in the margin of a journal that ‘the Medici made me and the Medici destroyed me’. It’s hard to imagine da Vinci as having ever been ‘destroyed’—art historians to this day wonder about the meaning behind the latter half of this cryptic comment. Medici used his distinguished contacts to help artists gain financing and commissions rather than personally offering money—hence why he was able to help so many of the Renaissance masters become the established creatives we still remember today.

IMAGES: © SHUTTERSTOCK

Royal patronage Artists would often acquire the attention of royalty and go on to become official court painters. The French monarchy was known for its art patronage—perhaps, this was the part of the extravagant lifestyle that would later get the monarchy abolished. Marie Antoinette was certainly no exception as she hired official portrait artists to the court, the most notable

www.artsandcollections.com

AC8_Art Patronage.Rev1.indd 27

of whom was Élisabeth Vigée Le Brun (1755-1842). There are over 30 known portraits painted of Antoinette by Vigée Le Brun, crowning her the official painter of the queen. It’s not only artists who are often assisted through royal patronage— composers throughout history have

Above: Élisabeth Vigée Le Brun Marie Antoinette in a Muslin Dress, 1783 Oil on canvas 89.8 x 72 cm.

CollectionS

02/05/2018 08:37

COLLECTIONS // arT

received commendations and financial aid from monarchs. Russian composer Pyotr Ilyich Tchaikovsky had found relative success before his involvement with Russian rulers, but when Tsar Alexander III bestowed upon him the Order of St. Vladimir in 1885, it propelled him to celebrity status. Thanks to additional support from the director of the Imperial Theatres, Ivan Vsevolozhsky, Tchaikovsky was awarded a lifetime annual pension from the Tsar, making him the premier court composer. It was during this time that he composed some of his most-loved and famous works, including Sleeping Beauty (1890) and The Nutcracker (1892).

Charles Saatchi Today, private patrons are rare; artists tend to be somewhat established before they secure a patron’s support. This support could be that of a gallery or a collector whose taste in art is well-respected. Founder of the Saatchi Gallery in London, Charles Saatchi, is arguably comparable to the Medici family for the support he has given blossoming creatives over the years. Venerable artists Tracey Emin, Damien Hirst, Jenny Saville and Marc Quinn all owe some degree of

28 CollectionS

AC8_Art Patronage.Rev1.indd 28

their success to the private collector, his exhibitions and his London gallery. Saville, in particular, was plucked from obscurity after Saatchi bought all of her works back in 1993. His backing brought her to the art world’s attention and he later supplied her with a studio space in which to work. However—with both the Medicis and Saatchi—it isn’t just a patron’s financial aid that can help artists. Their support as high-status individuals can mean a great deal to potential buyers and commissioners. When an artist is featured in Saatchi’s Chelsea gallery, it gives them his stamp of approval, therefore encouraging other investors and collectors to take notice. For any kind of artist—whether they are a painter, poet or musician—patronage is worth far more than its mere monetary value. Whenever a member of the royal family or aristocrat financially and emotionally supported an artist, it automatically put their name in the history books. When a highstatus individual shows that they are fond of an artist’s work enough to become their patron, it tells the world that their pieces are worth buying. Patrons throughout history have provided artists with the long-desired freedom so often rejected in this notoriously unforgiving field. •

Above: Visitors viewing an exhibition in the spacious Saatchi Gallery in Chelsea, London, in 2015. The Saatchi Gallery is now located in the Duke of York Headquarters building.

www.artsandcollections.com

02/05/2018 08:37

Palazzo Tornabuoni.indd 1

02/03/2018 09:21

Elegance, Luxury, Art Exclusivity Palazzo Tornabuoni, a private members club in the heart of Florence, is a non-proďŹ t cultural association devoted to safeguarding the Tuscan capitalâ&#x20AC;&#x2122;s Renaissance art and heritage

alazzo Tornabuoni, whose origins date back to the 15th century, remains one of the most important privately owned Renaissance palaces in Florence. Its location, at the corner of Via Tornabuoni and Via Strozzi, places the Palazzo in the historical centre and at the heart of Florenceâ&#x20AC;&#x2122;s contemporary life. Entering the Palazzo, the huntress Diana welcomes you. From its Renaissance origins, through the successive generations of illustrious Florentines that have lived here, frescoes, sculptures and architectural details tell magnificent stories of love, joy and courage.

Florence is one of those rare places where the past and present live side by side. The cobblestone piazzas, bell towers, fortresses and palaces of the Renaissance are now home to a contemporary international style. In the

Palazzo Tournabuoni.indd 32

04/04/2018 12:14

SPONSORED EDITORIAL same streets that nurtured the genius of Leonardo da Vinci and Michelangelo, new Florentine artisans, designers and artists continue to impress the world with their ravishing creations. At Palazzo Tornabuoni, beauty is seamlessly interwoven in 38 elegant residences— managed by Four Seasons Hotels and Resorts—that are both historic and contemporary. These private residences offer both Private Residence Club Memberships in one and two bedroom categories along with the opportunity of Whole Ownership Residences. They boast a variety of original decorative elements including elaborate stucco work, frescoes and 19th-century terrazzi floors. Members of Palazzo Tornabuoni enjoy a unique lifestyle born from the best of centuries of Florentine culture and the city’s deeprooted talent for turning life into art. In one of the beautiful residences in the Palazzo, an extraordinary fresco by Agostino Ciampelli depicts the ancient story of Esther and Ahasuerus set in 16th-century Florence. The splendor and colour of court life comes alive in this banquet scene—rich in lush fabrics, furnishings and clothing of the period. A magnificent carved and painted oak ceiling above displays the Tornabuoni and Corsi coat of arms—a legacy of the Palazzo’s former owners. Palazzo Tornabuoni offers a rare opportunity to live in and amongst the history, architecture and culture of Renaissance Florence while enjoying the finest comforts and amenities. Over the centuries, each generation embellished the palace with magnificent frescoes and statuary, creating the glorious edifice that club members enjoy today. Some of the most splendid works of art date from the late 16th century, when the Palazzo became the property of Alessandro de’ Medici, the future Pope Leo XI. As Archbishop of Florence, Alessandro transformed the Palazzo into his seat of power, commissioning leading artists of the day to decorate its grand halls. In 1736 Marquis Antonio Corsi acquired Palazzo Tornabuoni. During the following century and a half his family continued to embellish and improve the Palazzo, unifying its diverse architectural styles as well as commissioning new decorative elements. Many of the handcarved marble mantle pieces, as well

Palazzo Tournabuoni.indd 33

as the delicate stucco work framing the frescoes, date from this time. A meticulous four-year restoration has returned the Palace to the splendour of its Renaissance origins. At the same time, the building’s infrastructure has been updated to the most high-tech, yet unobtrusive, levels of comfort, style and convenience. In the 1590s, Palazzo Tornabuoni became the home of Marchese Jacopo Corsi, a patron of the arts with a passionate interest in music. A musical entertainment commissioned by Corsi would gain Palazzo Tornabuoni a place in the history books—for although the elite circle of humanists who gathered to hear Jacopo Peri’s Dafne one evening in 1598 were probably unaware of its significance, scholars now consider this to be the world’s first opera. The Palazzo was a favorite meeting point for many of the great poets and musicians who made Florence such a vibrant cultural hub, including Monteverdi, Tasso, Rinuccini and Gallileo Galilei’s father. Reviving its 16th-century role as a civic fulcrum, Palazzo Tornabuoni is once again an integral part of the city’s vibrant cultural life, and a dynamic forum for intellectual, social and business encounters. Driven by curiosity, a thirst for cultural enrichment and the desire for personal growth, Club Tornabuoni Members from around the world share common interests and experiences. Palazzo Tornabuoni exists to facilitate such encounters. So a discussion in the Library about Tuscany’s most refined reds can turn into an impromptu wine tasting, a question about Giotto’s frescoes in Santa Croce may be answered a few days later by a private seminar led by an art historian, and passion for music might lead to attending a Maggio Musicale concert. With the help of the Palazzo’s Attaché, Club Tornabuoni members enjoy preferential access to museums, galleries and private collections. Cosmopolitan culture and art lives side by side. Membership at the Palazzo is your entry to a unique and venerable Florentine lifestyle, your stylish and historic home away from home in one of Italy’s most beautiful cities. 

For more information, please visit www.palazzotornabuoni.com

04/04/2018 12:14

COLLECTIONS // ART preservation

Back from the

Brink

arlier this year, Bank of America gifted $1 million to the Smithsonian Cultural Rescue Initiative (SCRI)—

the programme’s largest corporate donation to date. The SCRI’s mission is simple: to recover and protect cultural heritage under threat. Coordinating this mammoth operation, however, is far from straightforward and its

32 CollectionS

AC9.Bank of America.indd 32

achievements are nothing short of miraculous. Arts & Collections spoke with the leader of the SCRI, Dr Richard Kurin, and Bank of America’s global arts and culture executive, Rena DeSisto, to gain a comprehensive understanding of how the scheme is orchestrated. The Smithsonian Institution and Bank of America have a longstanding relationship, one

www.artsandcollections.com

02/05/2018 08:38

ART PRESERVATION // COLLECTIONS

out a way of helping,’ Dr Kurin explains. ‘At the time, there was no real way of delivering cultural relief to them—so we invented it,’ he adds. Incidentally, the SCRI was the first plan of its kind, focusing its efforts on protecting and rescuing artefacts of national heritage under threat of or impacted by destruction— an area that had been largely overlooked prior. Bank of America’s decision to play a role in the SCRI was spurred by the launch of the International Alliance for the Protection of Heritage in Conflict Areas (ALIPH) in March 2017—an initiative that aims to attract and invest resources into protecting and restoring cultural property in war-torn areas. France, the United Arab Emirates and a list of other countries collectively established this multimillion-dollar alliance. The Middle East remains a region of concern, in this respect, where armed militants and terrorist groups like the notorious Islamic State frequently operate. ‘I was asking the question of “Can we help in places like Syria and so forth?” […] But our desire to do something in that side of the world was bigger than our ability to do it on our own,’ DeSisto says. It was then that Bank of America decided to invest in the SCRI and solidify a partnership. ‘The Smithsonian has a very effective programme

that they have been running for some years,’ DeSisto comments. ‘Their programme is multifaceted; it’s about treasures in war-torn areas, but it’s also about cultural protection more generally and that includes natural disasters—so it’s very holistic,’ she says. The Smithsonian Institution and Bank of America have a longstanding relationship, one that is based on a shared dedication to expand knowledge, triumph the value of world cultures and magnify the transformative power of the arts. The Smithsonian takes a four-pronged approach to safeguarding cultural heritage. The museum brings recognition to the scope of the problem, fosters resilience among the community of heritage organisations, supports rescue when disaster threatens Facing page: Assyrian relief artefact, 865-860 BC. Below left: Haitian artists conserve a painting during the Haiti Cultural Recovery Project 2010; painted by artist Mario Benjamin. Below top-bottom: Destruction after the earthquake in Haiti, 2010. Specialists clearing the wreckage of a natural disaster in Nepal. Conservators from the Smithsonian Cultural Rescue Initiative assembling artefacts.

IMAGES: © THE SMITHSONIAN INSTITUTION; 123RF; PHOTO BY DR RICHARD KURIN

that is based on a shared dedication to expand knowledge, triumph the value of world cultures and magnify the transformative power of the arts. Values shared by the two organisations have led to a collaborative effort to protect vulnerable cultural treasures around the globe. Since the SCRI’s inception in 2010, it has reached out to both U.S. and international communities, helping at-risk groups preserve their historical heirlooms. Thousands of committed specialists—trained by the Smithsonian—have made it their life’s work to safeguard cherished artefacts being threatened by natural calamities such as earthquakes, wildfires, tsunamis, hurricanes and landslides. Their teams also target provinces of the world suffering from armed conflict to ensure that national treasures aren’t erased in the crossfire. Dr Kurin describes how the project came into fruition: ‘The Smithsonian Cultural Rescue Initiative came about after the earthquake in Haiti. There was tremendous devastation: almost 300,000 people died; over a million people were homeless,’ he says. ‘For the Haitians, culture was so important […] it was most important because it gave them resilience, it gave them hope for the future, it gave them a way to deal with the trauma of death. And so, we realised that if their culture was so important to them, we had to figure

www.artsandcollections.com

AC9.Bank of America.indd 33

COLLECTIONS 33

02/05/2018 08:38

COLLECTIONS // ART preservation

34 CollectionS

AC9.Bank of America.indd 34

mask beard came loose and consequently came off. People think it came off because it was handled poorly. It was stuck back on with the wrong sort of glue,’ DeSisto says. ‘The science of conservation is constantly evolving […]. Conservationists are almost like doctors, they need to stay on top of the latest techniques,’ she stipulates. Losing irreplaceable artefacts can have a detrimental effect on a nation: permanently damaging communities, cultural identities and economies. ‘[Cultural treasures] give you a place in the universe of where you stand. Removing that is dangerous because Isis and others [terrorist organisations] want to clean the slate of history—they want to continue their ethnic, national and religious cleansing and pretend that it doesn’t exist. The economic consequences are huge,’ Dr Kurin says.

‘These things have an emotional importance to people, they’re a source of pride and they’re a source of learning,’ DeSisto adds. Protecting the world’s shared heritage is an ongoing effort that requires resilience and passion. Continued funding will help the SCRI to expand, extend training programmes and deploy more resources to provinces of the globe in dire need. The dedicated individuals involved in the SCRI rescue missions could be described as ‘modern-day Monuments Men’, although Dr Kurin more aptly characterises their work: ‘What we do is help people hold on to, and capture, the spirit that will propel them into a future after disaster.’  Below: Entrance to El Morro Fortress, old San Juan, Puerto Rico.

‘What we do is help people hold on to, and capture, the spirit that will propel them into a future after disaster’ —Dr Richard Kurin, leader of the Smithsonian Cultural Rescue Initiative

Images © 123RF, image by mikolaj64

specific sites and conducts thorough research on zones where antiquities may be at future risk. Currently, the SCRI is focusing its efforts in Nimrud, Iraq. This ancient Assyrian city, once known as Kahlu, dates back 3,300 years and is one of the most precious Mesopotamian ruins in existence. Over the last few years, Nimrud has been subjected to some of the most atrocious and extensive damage at the hands of Isis. ‘They [Isis] would go in and loot the location. That looted treasure is then sold on the black market and that is one of the ways they finance their operation,’ DeSisto comments. ‘Then, they stage the bombing and videotape it […], to me it’s unthinkable,’ she adds. Much of the work undertaken by the SCRI is extremely dangerous—a jarring reality for those involved. Entering into such treacherous territories requires knowledge, diplomacy and skill. ‘We have to demine the site, we have to get equipment in, we have to work closely with Iraqi archeologists,’ Dr Kurin explains. ‘In Nimrud […] to really restore it will take years of work and a lot of effort,’ he says. While some of the SCRI’s operations are highly complex, others require the delivery of more basic forms of aid. A prime example is their recent outreach to Puerto Rico and the Virgin Islands—both of which have been devastated by hurricanes. In response, the SCRI has distributed diesel for emergency generators and other essential supplies to help keep their local museum collections safe. Aside from rescuing and restoring, the Smithsonian puts a huge emphasis on applying preventative measures in atrisk provinces. ‘We work with people on developing plans, on training their skills and then doing actual simulated exercises so that when a natural disaster occurs they are prepared,’ Dr Kurin divulges. Evacuation simulations are an educational opportunity for less prosperous museums to master proper emergency procedures. Such experiences provide the employees with the necessary skills to thrive in the face of adversity and prevent further damage from being inflicted to the art by inexperienced handlers. ‘There are certain places in the world where the intent is there, in terms of taking care of things, but maybe the knowledge is not […]. In Egypt, the director of the Cairo museum is much more trained and is undertaking a different approach to conservation. But years ago, King Tut’s [Tutankhamen] death

www.artsandcollections.com

02/05/2018 08:38

Boataffair.indd 1

17/04/2018 09:56

Collections // PHOTOGRAPHY

Picturing

Prince

In an exclusive interview with Arts & Collections, photographer of the stars Steve Parke shares his experience working alongside legendary rock icon, Prince By Phoebe Ollerearnshaw

Above: Steve Parke A Case of You Paisley Park Loading Dock, 1997 © Steve Parke.

36 CollectionS www.artsandcollections.com

AC10_Prince.indd 36

02/05/2018 08:39

PHOTOGRAPHY // Collections

images: © courtesy of Proud galleries; Steve Parke

teve Parke’s acclaimed photobook, Picturing Prince: An Intimate Portrait (2017), provides an honest glimpse into the life and individuality of one of the most revered rock stars ever known. The publication coincided with an exhibition of the same name that was held at Proud Galleries in London at the end of last year. Prince Rogers Nelson—better known simply as Prince— carved himself a lasting legacy through heartfelt and often forward-thinking music. He communicated messages of diversity and sexual expression via his wide vocal range, flamboyant persona and electric stage presence. Consequently, he has forever been immortalised in the hearts and minds of those who have been touched by his melodies. Parke is an award-winning illustrator, designer and photographer who worked as Prince’s in-house art director for 13 years. After meeting in the late 80s at Paisley Park— the lucrative studio complex which was once described by Prince as a ‘creative mecca’— the two formed an immediate bond. ‘Looking back, I can certainly see that we must have clicked on some level because I fitted in right away,’ Parke remembers. The photographer was primarily employed by Prince to paint a stage for a video shoot. Recognising his potential, Prince granted him the opportunity to contribute to his projects and take on more responsibility. Soon, he became an integral part of Prince’s team. During his long stint as art director, Parke’s tasks were interchangeable. He did everything from painting sets and personalising guitars to designing album covers and organising impromptu photoshoots. What is painstakingly obvious from Parke’s account is that Prince retained an unwavering dedication to his craft. There was an expectation for his team to commit their lives to transforming his visions into reality: ‘It was a lot of really hard work to be honest, it was like he had no down time,’ Parke remembers. This commitment included long working hours and spontaneous assignments that kept Parke on his toes. Recalling the impulsive nature of the role, Parke said, ‘I’ve kind of put it in an almost Willy Wonka and the Chocolate Factory kind of idea […] you’d never know what’s going to happen on a given day.’ Prince was defined by his unbridled imagination and Parke recollects this distinctively. ‘It was very difficult to keep up with him because his energy levels were so

www.artsandcollections.com

AC10_Prince.indd 37

high; he was like a creative whirlwind, really. He kept coming and coming and coming at you with more things to do and more ideas.’ The pair shared an informal relationship; this meant they could express themselves freely to one another. Parke once suggested an unplanned shoot amongst some marshy reeds in Paisley Park’s grounds. The seasonal umber and reddish tones of the area had caught Parke’s eye. As instructed, Prince immersed himself within the reeds in order for the photographer to get the optimum shot. ‘It was very marshy around the area and he was in fact wearing heels […] I wondered if he was going to start sinking into the mud.’ This striking still is one of the many unseen images featured within Picturing Prince. There is a refreshing attitude that resonates through Parke’s portraits. In each image he manages to capture Prince’s gender fluidity in a way that is unique and surprising. ‘When someone walks in with cat eye makeup and those lashes, wearing something that has a raw sex appeal to it […] you can’t help but capture it,’ Parke says.

Above: Steve Parke Just a Reflection of Kisses Marbella, Spain, 1999 © Steve Parke.

‘I don’t feel like he was ever trying to prove anything to anybody. He just knew who he was and knew what he liked and did what he wanted,’ he adds. Parke hopes that attendees of his exhibition will leave with a better understanding of who Prince really was. ‘He may have been a musician, but he was also a human being and just getting to see him on a daily basis made me proud,’ he remembers. ‘There’s a lot of genuine insights into him as a person […] I got a lot of shots of him as I saw him on a daily basis, as opposed to Prince as the rock star.’ Parke has a number of exciting projects secured for the upcoming months, one being a structured shoot for publishing company Simon & Schuster that will embody a fashion fairytale theme. Proud Galleries will also continue to display a selection of Parke’s work for the foreseeable future. •

CollectionS 37

02/05/2018 08:39

COLLECTIONS // cryptocurrency

Cryptocurrency The Future of the Art World?

Parallels abound between cryptocurrency and art; Arts & Collections looks at this burgeoning relationship and how it’s likely to evolve over time By Sam Stevenson

38 CollectionS www.artsandcollections.com

AC13.Cryptocurrency and Art indd 38

02/05/2018 11:02

cryptocurrency // COLLECTIONS

he synergy between cryptocurrency and art is hard to ignore. Art—like Bitcoin, Ethereum or Ripple—is a fluctuating asset; its value is subject to the ebb and flow of capricious market conditions. The hope for art aficionados and Bitcoin buffs is for their investments to appreciate in value. Besides, contemporary art investors demand a contemporary form of exchange. Enter cryptocurrency: the art world’s auspicious ally.

IMAGES: © shutterstock; lincoln townley

Shaking Things Up Lincoln Townley, self-styled ‘art outsider’ and cryptocurrency champion, is leading the way when it comes to the relationship between Bitcoin and art. In December 2017 his painting, Homage to Francis Bacon (2017), went under the hammer for 40 Bitcoin in what was believed to be the first official sale of its kind—roughly £268,000 at the time of writing. On the cryptocurrency’s volatile value, he says: ‘It’s only going to go up. I truly believe that. I’m more than happy to ride the Bitcoin journey—because I believe in it. And I do believe, with regards to Blockchain, it’s only going to get stronger. And I think more technology is going to advance it.’ He adds: ‘It’s a huge investment. The thing is, I am a risk-taker. There is a gamble with cryptocurrency. Although I don’t think it’s as volatile as people think, it’s still a gamble. But I’m willing to gamble.’ Townley—an art world maverick—does things his way. And this subversion, he maintains, drives the value of his work. But will selling artwork for Bitcoin always be something esoteric? Will sales of this kind soon be as commonplace as contactless technology? For Townley, we’re not far off. ‘When it becomes a currency we all hold—when we find we are in that realm—that’s when people are going to be selling more work through it,’ he reveals . On the link between cryptocurrency and art, Townley divulges: ‘There is a huge synergy. You’d be hard-pressed to find someone who is excited by Bitcoin and isn’t excited by some form of art. I think they go hand in hand. It’s got that energy to it; it’s got an excitement about it. I definitely think it’s the future.’ The question is: how do cryptocurrency novices harness the power of Bitcoin and

www.artsandcollections.com

AC13.Cryptocurrency and Art indd 39

‘You’d be hard-pressed to find someone who is excited by Bitcoin and isn’t excited by some form of art’ —Lincoln Townley

Above: Lincoln Townley at work in the studio— from where he sells most of his art himself, eschewing the role of tradional galleries.

CollectionS 39

02/05/2018 11:02

Blockchain—rarefied concepts to most— to exploit an apparently booming market?

Decentralised Investment While the similarities between art and cryptocurrency are plain to see, art is still a tangible investment. Cryptocurrency, on the other hand, represents an almost ethereal entity. One of its founding principles is to decentralise currency from governments and financial institutions, placing it into the hands of the general public. This iconoclastic ideal makes encrypted currencies seem arcane, and their dayto-day use somewhat far-fetched. But what about those keen to get to grips with Blockchain and Bitcoin? Financial markets are prone to speculation and cryptocurrency trading is no exception. ‘Cryptocurrencies are still in their infancy and therefore prices can fluctuate,’ says Matthew Newton, analyst at eToro, one of Europe’s largest cryptocurrency retailers. ‘Investors need to be prepared for this volatility,’ he advises.

Yet, unlike ordinary financial markets, this speculation is uniquely modern and technology-driven. Cryptocurrencies are susceptible to bots, which artificially inflate their value, and can be ‘mined’ using gigantic servers, further contributing to their synthetic inflation. This uncertainty is unsettling for some—but not for millennials. A recent survey by Blockchain Capital found 30 percent of those in the 18-34 age range would rather invest $1,000 in Bitcoin than $1,000 in government stocks or bonds. The same study also indicated that 42 percent of millennials knew about Bitcoin, compared with 15 percent aged 65 and over. Digital natives clearly foresee the benefits of investing in digital assets. But will cryptocurrency always be the preserve of millennials and technology geeks? ‘The accessibility of cryptocurrency continues to evolve,’ Newton clarifies. ‘Incumbent institutions are seeing the potential of cryptocurrency and Blockchain, and starting their own projects to explore what is possible.’ Cryptos, it seems, could soon go mainstream.

So, what advice can Newton give to those looking to invest in these digital commodities? First, to shelter yourself from market volatility and to allocate your assets based on risk tolerance, Newton suggests having a diversified portfolio. ‘Cryptocurrencies can experience large price swings,’ he admits. ‘So investments in other markets could help to stabilise your portfolio.’ He also points out the importance of researching the cryptocurrency you want to invest in prior to getting started. ‘The future for cryptocurrencies is bright,’ maintains Newton, who believes the technology has the potential to transform the way financial systems around the world work. Cryptocurrency’s long-term effect on the art world, though, remains to be seen. While figures like Townley fight to bring it to the fore, others inevitably have their doubts. One thing, at least, is certain. Today, an exciting prospect faces patrons of fine art and collectables. Because of the cryptocurrency boom, their investment portfolios can now enjoy a new, digital dimension. •

IMAGES: © shutterstock

COLLECTIONS // cryptocurrency

40 CollectionS www.artsandcollections.com

AC13.Cryptocurrency and Art indd 40

02/05/2018 11:02

Aristo Developers.indd 1

16/02/2018 09:20

COLLECTIONS // MEMORABILIA

In Conversation with...

Julien’s Auctions CEO Darren Julien

Arts & Collections discusses the world of celebrity and entertainment memorabilia with Julien’s Auctions CEO and founder, Darren Julien By Sam Stevenson

42 COLLECTIONS

AC21_Darren Julien1.indd 42

www.artsandcollections.com

02/05/2018 10:55

MEMORABILIA // COLLECTIONS

third generation entrepreneur, Darren Julien has built his entire career around the auction industry. He cut his teeth at Sotheby’s and went on to establish Julien’s Auctions—today a globally recognised brand. In an Arts & Collections exclusive, he talks predictions, new technology and how to avoid potential provenance pitfalls.

IMAGES © Julien’s auctions

Memorabilia’s Global Appeal It’s no secret that, in recent years, auction houses have expanded into new markets abroad. Russian oligarchs and wealthy Asians now enjoy unfettered access to collectibles hitherto unavailable to them. The growing marketplace of celebrity and entertainment memorabilia is no exception. ‘We do a lot of marketing to Russia and to Asia. And that’s really increased our business because there are new buyers coming out of those countries. And western pop culture, especially, is highly soughtafter,’ Julien reveals. ‘It used to be very difficult for them. They didn’t even know you could buy these things,’ he explains. The widespread availability of new technologies has served to bolster these emerging markets. ‘Now, with the age of the internet and technology, you can bid from all over the world. Our business has really boomed. Even though our auctions are mostly held in the states, most of the items go to people around the world and other countries,’ Julien adds. ‘Certain celebrities are popular in different countries,’ he continues. ‘You’ll sometimes see certain celebrities sell well in France; certain bidders come out of Germany. Usually Asia and Russia like western pop culture. When we did Cher’s auction, most of the bidders came out of the United States and the U.K. But each celebrity is different. You can’t really tell, sometimes, until you make the announcement. You see where the catalogue orders come from, where the bidder registration has come from. ‘When we did the Michael Jackson auction, we toured it to China and Japan, because he is hugely popular in Asia. Even though he is popular all over the world, China and Japan just have a huge infatuation with Michael Jackson.’

Technology’s Role So, how does Julien’s Auctions use new technology to extend its global reach?

www.artsandcollections.com

AC21_Darren Julien1.indd 43

Above [top left and right]: One of Marilyn Monroe’s most recognisable gowns—the one she wore to wish President J. F. Kennedy a happy birthday—sold at Julien’s Auctions for $4.81 million in November 2016.

Above [bottom left and right]: Michael Jackson’s Thriller jacket, an enduring garment from an iconic music video, sold for $1.8 million at Julien’s 2011 MUSIC ICONS auction.

CollectionS 43

02/05/2018 10:56

COLLECTIONS // MEMORABILIA

Julien reveals: ‘We have live streams where you can actually see and hear the auctioneer on “Julien’s Live”. And you can also see the currency. So even if you’re in mainland China or Russia—and you don’t know English—you can at least follow along and see the currencies.’ The instantaneous nature of online bidding has opened up new business channels for the auction house. ‘People used to have to travel to these auctions to participate. But now, they save their money and invest it into the actual auction—as opposed to a plane ticket or a hotel. And it’s more convenient. High net worth individuals will take the time to watch an auction when they’re at work, or on their mobile phone while they’re travelling,’ Julien adds. Does this mean less people are attending auctions? Julien confesses: ‘Our auctions, typically, are very well attended. But you see a decrease. Whereas we used to have maybe two or three hundred people in the room, now it may be 50 to a hundred. And that’s because people would rather stay at home, or bid from their office, as opposed to taking a couple of days off to travel to the event.’ And does this decline in attendance mean the auction room magic is lost? ‘Not in our auctions,’ Julien maintains. ‘I do think in some auctions it is. But our auctions are fan-based. So you get those who come who might not be able to afford something. But they can come and experience the auction. So we typically do still get that: where the auction rooms are exciting. But most of the bidders are high-profile bidders who are on the phones or online now. So you don’t have [a situation] where most of the bidding happens in the room, those are usually the spectators.’

Provenance is Paramount In Julien’s words: ‘Provenance means everything.’ He is, of course, right. But what is the best way to guarantee a given item’s provenance? ‘It’s important to buy from a reputable company; it’s always important to ask for a condition report,’ he explains. ‘That’s why our business, in particular, exploded.’ The auctioneer adds: ‘It’s important in what we do that we don’t sell anything unless we are 100 percent sure it is authentic. You can’t sell an item

44 CollectionS

AC21_Darren Julien1.indd 44

‘It’s a lot sexier to have a guitar hanging on your wall that John Lennon played than it is to have a Monet’ —Darren Julien

Above [top right]: The scratch marks on John Lennon’s guitar—which Julien’s sold for a recordbreaking $2.4 million—helped provide its crucial provenance. Above [bottom right]: Detail from the neck of the John Lennon original 1962 J-160E Gibson acoustic guitar, sold in 2015. Above [left]: Full view of the instrument that shattered auction records for rock memorabilia. Left: ‘There are Michael Jackson gloves all the time online,’ Julien says. But more often than not, he reveals, they are fake. At Julien’s, they take great care to ensure provenance. The glove pictured, from the Bad tour, sold at Julien’s MUSIC ICONS auction for $275,000.

www.artsandcollections.com

02/05/2018 12:44

MEMORABILIA // COLLECTIONS

that’s based on hearsay or stories without being able to verify first-hand the story is true. We probably reject 80 to 90 percent of the property offered to us, because it doesn’t have solid enough provenance. ‘And it’s really important you can trace the history of the item. Sometimes it’s a matter of matching it up with what was worn on stage, or seeing certain scratches. When we sold John Lennon’s guitar, for $2.4 million, the only way we knew that was John Lennon’s was [because] we were able to match up the grain marks with those in videos of him, as well as the scratch marks. And they matched up perfectly. The grain on a guitar is like a fingerprint; no two guitars are the same. So, sometimes, that is really important; that can authenticate an item.’ However, this method of authentication can’t always be relied upon—especially, Julien elucidates, when it comes to everyday items, such as the black leather jacket worn by Patrick Swayze in Dirty Dancing (1987). ‘We sold it for $60,000,’ he discloses. ‘But the reason we sold it for that much was [because] it came from the estate of Patrick Swayze. That’s a good example to show provenance means everything. The buyer will then be able to sell it in years to come, because it came from Patrick Swayze’s estate.’ Julien describes how important the ‘seal of approval’ is when it comes to establishing an item’s provenance. ‘That’s why when we do single celebrity sales they are the best auctions, because you know the items come from the celebrity and they are what we say they are.’ He adds: ‘On any level you start at, provenance is key.’

The Affinity Between Art and Memorabilia So, is there a connection between investing in art and investing in memorabilia? ‘Absolutely,’ Julien says. ‘Number one: it’s a way to diversify a portfolio. And it’s a lot sexier to have a guitar hanging on your wall that John Lennon played than it is to have a Monet [painting].’ He describes items like guitars and pop culturerelated objects as ‘conversation pieces’ and ‘something to brag about’. ‘People are in awe of them,’ he says. ‘You go to a museum and see a painting, and it’s great if you’re an art connoisseur and you enjoy art, but there is the “wow factor” with memorabilia.’

www.artsandcollections.com

AC21_Darren Julien1.indd 45

Predictions for the Future Julien labels celebrities like Marilyn Monroe, Michael Jackson, Audrey Hepburn, and James Dean as ‘blue chip investments’. Julien’s Auction’s 2016 sale of Marilyn Monroe’s dress for $4.81 million clearly proves this. But what about future ‘blue chip investments’? ‘Lady Gaga is probably one of the best investments because she is someone who is always going to reinvent herself. She is a true artist. So she is a future blue chip,’ Julien believes. ‘Same thing with Madonna; she has always reinvented

Above: Darren Julien poses with Lady Gaga, who he tips to be a future celebrity memorabilia ‘blue chip’ investment. He puts this down to her unceasing powers of reinvention and underlying traits as a ‘true artist’—qualities which reinforce her desirability.

herself and she has a global reach. Her values have gone up as well.’ He adds: ‘Then, you get into people like, say, Britney Spears. Is her collectability always going to be there? Will she someday be a legend like Marilyn Monroe? You don’t know; you just never know.’ 

CollectionS 45

02/05/2018 10:56

Kerbedanz S.A.indd 1

24/04/2018 09:42

BASELWORLD // COLLECTIONS

Watchmaking’s Biggest Stage

Geared towards introducing new models and future trends within the watch and jewellery industries, Baselworld keeps its crown as the key event for timepiece aficionados By Annalisa D’Alessio and Sam Stevenson

IMAGES: © HUBLOT; BASELWORLD

very year, exhibitors, affluent collectors, retailers and members of the press gather in the Swiss city of Basel to view and display the latest ware in the ever-growing watch industry. But Baselworld isn’t just another watch and jewellery show. Here, even the simplest entry-level pieces can cost thousands of pounds and often rise to hundreds of thousands if they are limitededition and precision-made with years of engineering behind them. In recent years, the Swiss watch industry has seen somewhat of a slump in sales. However, this year’s show—which is now in its 101st edition— proved that the watchmaking industry is showing signs of improvement. In terms of attendance, it saw around eight percent more visitors over the first few days compared to last year; organisers reported the leading exhibiting brands were ‘very satisfied’ with the show’s start. Karl-Friedrich Scheufele, Co-president of Chopard, said the response demonstrated ‘that Baselworld is and remains an indispensable platform for exchange for the watch and jewellery industry’. Read on for Arts & Collections’ breakdown of the standout

www.artsandcollections.com

AC14.Baselworld.Rev2.indd 47

models—and most exciting launches—that graced watchmaking’s biggest stage as well as the emerging trends in the industry.

HUBLOT BIG BANG UNICO RED MAGIC This is, perhaps, one of the most anticipated releases at this year’s Baselworld. Swiss watch giant Hublot has invented and patented a new material—the first-ever vibrantly coloured, highly polished ceramic. A feat that was four years in the making, the manufacturer has created a Big Bang Unico model almost entirely out of ceramic. Dubbed one of the most daring releases to date, this watch promises to go down in the history books— only 500 individually numbered pieces will be made. Pricing starts from $26,200.

OMEGA SEAMASTER DIVER 300M

Above: The Hublot Big Bang Unico Red Magic.

Introduced in 1993, the Omega Seamaster Diver 300M celebrates its 25th anniversary this year. To honour the occasion, Omega unveiled an updated version of the classic model at Baselworld 2018. The revamped Seamaster comes in 14 different variations, including six models in stainless steel and

COLLECTIONS 47

02/05/2018 09:15

Advertorial

This is not jewellery... this is wearable art

Bykovs’ Jewellery is proud to present the work of two of St. Petersburg’s most revered contemporary jewellery designers—Gennady and Natalia Bykovs. Both artists have used their esteemed status to establish an outstanding Russian brand, well known and respected by leading art experts around the world. With the creation of their brand, the Bykovs’ name has become synonymous with luxury chic.

On the illustrious designers, Dr. Fritz Falk, former director of the Pforzheim Jewellery Museum, art historian and master goldsmith, says: ‘From the very beginning, I was fascinated by the very high quality of Bykovs’ artistic work, both in creativity and in technical craftsmanship. In my understanding, Gennady Bykov belongs to the rather small group of really important Russian jewellery artists. I am convinced he is one of the leading personalities in this field.’

Giants of jewellery, the Bykovs have cemented their reputation as a force to be reckoned with in their field. Their artisanal and bespoke creations transcend mere statement pieces. They are true works of art.

Until recently, Bykovs’ unique creations could only be found in top museums in Russia and around the world. But now, for the first time, art lovers and jewellery connoisseurs can not only admire these delectable treasures, but also purchase them to add to their personal collection.

The attention to detail and deft skill the Bykovs employ is second to none. Their uncanny expertise is quite simply unparalleled. Such is the quality of their craftsmanship that their work is often compared to Russia’s most famous master jeweller—Fabergé. Each Bykovs piece is designed with the utmost thought for meticulous craftsmanship. Every element, every sparkling stone exudes finesse and oozes sumptuous grace. Luxurious and grand, Bykovs’ jewellery exceeds expectations. The flair and elegance of each and every piece is unmistakable. Indeed, those who witness these dazzling creations first-hand never forget them.

Bykov's Jewellery.Rev1.indd 1

The Bykovs’ elegant ‘purses’, a brand signature, are unique, collectable pendants. These opulent objects take the shape of small, intricately fashioned purses crafted in 18-carat gold and set with fine jewels and diamonds. Each piece is created using time-honoured techniques and highly skilled goldsmithing dexterity. Exceptional, exclusive and coveted, no two designs are exactly the same. While they may resemble purses, these exquisite items have nothing whatsoever to do with money; rather they are designed to be unusual and romantic keepsakes each containing a secret message of love or wisdom.

26/04/2018 14:02

The purses from the new ‘never ending romance collection’, which was unveiled at Top Marques 2018 in Monaco, contain philosophical and sometimes humorous messages devoted to life’s most cherished moments. They are charming and individual pieces, which emanate the enduring sense of luxury the Bykovs’ brand embodies. Perhaps the most appealing thing about these delicately crafted items is their distinctiveness and remarkable rarity. Each piece has its own distinct personality and charming appeal. To wear a Bykovs purse is to turn heads. To wear a Bykovs purse is to stand out from the crowd. Those who indulge in these fine pieces of wearable art appear cultured and refined. Even better, those who sport these fine examples of artisanal design can be sure nobody else owns the same design. To be unique is to celebrate our individuality. Bykovs’ never ending romance collection does just that. Bykovs revels in originality, Bykovs instils creativity and flair. Help your loved ones flaunt their inner artist; give the gift of never ending romance. ‘You gave it to me as a part of your heart. And it’s always with me…With your love. Inside…’

Bykov's Jewellery.Rev1.indd 2

26/04/2018 14:03

COLLECTIONS // BASELWORLD

NEWS FROM THE WORLD OF WATCHES Auction house Sotheby’s has recently appointed Sam Hines as the new head of its watch division. Hines, who was previously international head of watches for Phillips, has over 20 years of experience in both the auction and watch market. Before Phillips, he was international co-head of Christie’s watch department. Based in Hong Kong, Sam Hines will lead the international team of Sotheby’s Watch specialists and work with them on the company’s flagship sales in Geneva, New York, Hong Kong and London while continuing to advise watch collectors. Hines has spearheaded some of the most important watch sales of the past decade, including the discovery of two previously unknown pocket watches from the collection of James Ward Packard which sold for a total of $2.7 million in 2011. His track record also includes a pair of Singing Bird Pistols sold for $5.8 million, the most valuable horological object ever sold in Asia and the sale of the only known Patek Philippe Star Calibre 2000 for $3.5 million.

KERBEDANZ presents Maximus: world’s largest central ﬂying tourbillon of a 27mm cage diameter

‘Baselworld is an essential time of the year for the industry, representing the vast majority of watch exports. The show attracts the most important retailers, clients and members of the press’ —Ricardo Guadalupe, CEO of Hublot

Its energy is produced by four parallel barrels built around a central wheel mounted on a ball bearing, providing the torque required for powering a tourbillon of such a size.

eight in gold and steel. All models are equipped with a ceramic bezel, with the diving scale in Ceragold or white enamel (depending on the model). There is also a limited-edition model in titanium, tantalum and Sedna gold. Not an entirely new combination, Omega released a Seamaster 300M in rose gold, titanium and tantalum in the 90s. The refined grouping works well, as the tantalum’s bluish hue offers a stark contrast to the titanium’s silvery gleam. Prices start from £3,270, while the Omega Seamaster Diver 300M Tantalum Titanium Limited Edition will retail at £9,200.

an exquisite lustre, the watch’s chunky 43mm steel case, inspired by the shape of a motorcycle wheel, is finished with a rose gold and black coating. Reasonably priced at just £1,030, this statement timepiece represents affordable luxury.

BREGUET CLASSIQUE TOURBILLON EXTRA-PLAT AUTOMATIQUE

TISSOT T-RACE MOTO GP LIMITED EDITION 2018 Officially released at Baselworld 2018, Tissot’s Limited Edition T-Race continues to demonstrate the brand’s ongoing ties with Moto GP. Indeed, Tissot has been the official timekeeper at the motorsport’s major events since 2001. Inspired by one of the most thrilling sports on earth, this new model— designed to have a super sporty look, with fluid lines and the latest, cutting-edge technology—pays homage to the world’s oldest motorsport competition. Producing

50 COLLECTIONS

AC14.Baselworld.Rev2.indd 50

Above: The Breguet Classique Tourbillon ExtraPlat Automatique timepiece. Established in the 18th century, Breguet is a leader in luxury watches.

A pioneer in watchmaking and timekeeping technology, Breguet is a master of the tourbillon complication. The mechanical device was after all invented by Abraham Louis Breguet, the brand’s founder, who patented it around 1795. One of the thinnest automatic tourbillon watches, the Breguet Classique Tourbillon Extra-Plat Automatique combines the illustrious elements of Breguet timepieces—such as the iconic Breguet numerals, a tourbillon and an off-centred dial. Although the Classique Tourbillon ExtraPlat has been in Breguet’s catalogue since 2013, this new model sees the introduction

www.artsandcollections.com

02/05/2018 09:15

baselworld // COLLECTIONS

Right: Patek Philippe unveiled their new World Time Minute Repeater Ref. 5531 chronograph at Baselworld 2018—prices start from £370,780.

of a grand feu enamel face, which, alongside the removal of the power reserve indicator, creates an increasingly austere dial layout. Price is available on request at breguet.com.

Patek Philippe World Time Minute Repeater To kick off Baselworld 2018, Patek Philippe unveiled a new version of its ultra-complicated World Time Minute Repeater. Like its limitededition predecessors, the new Ref. 5531 brings together a minute repeater and a world-time function—two complications at which Patek Philippe has long been known to excel. The cloisonné enamel dial features a pastoral image of the Lavaux vineyard terrace region on the shores of Lake Geneva, a UNESCO World Heritage site not too far from Patek Philippe’s Swiss headquarters. The dial features lapped rose-gold hands, including a pierced hour hand whose silhouette is inspired by the Southern Cross constellation. Price: approximately £370,780.

IMAGES: © patek philippe; Breguet; baselworld

The rise of smartwatches Over the past few years, there has been a real emergence of smartwatches at Baselworld. Wearable technology is enjoying a widespread boom in both popularity and sales; luxury watch brands are producing new, hybridised models to cater to emerging markets. Even though tech giant Apple is still the biggest manufacturer of smart watches, other makers—such as Hublot, Tissot, Tag Heuer, Michael Kors and Louis Vuitton—have jumped on the bandwagon, realising there is money to be made from this niche share of the timepiece industry. Notable exhibitors at this year’s Baselworld included Hublot, who unveiled its first smartwatch, the Big Bang referee, in honour of the 2018 FIFA World Cup; Skagen, whose newly released smartwatchhybrid is about elegance and style rather than fitness tracking; and the hugely successful Kickstarter-backed project: the Alpina Alpiner X. If anything, this shows that the consumer’s interest in smartwatches is rising, as is the number of models on offer. • Baselworld will return in 2019 for the event’s 102nd edition. The show is currently scheduled to take place from 21 to 26 March.

www.artsandcollections.com

AC14.Baselworld.Rev2.indd 51

Jewellery Highlights Bejewelled bracelets and watches—this year’s Baselworld fair saw a considerable amount of standout pieces, including models belonging to Harry Winston’s Emerald and De Grisogono’s Millefoglie collections. An emerging trend, sure to take the jewellery industry by storm, is the one of stacking in abundance. After all, the only thing better than a bangle encrusted in precious stones is two—or three, or four—bangles encrusted in precious stones. Sustainability was another major trend at Baselworld this year; jewellers are starting to take heed of consumers’ demands for ‘fairmined’ gold and stones. Makers are increasingly putting sustainability in the spotlight and enhancing their commitment to ethical luxury. In terms of standout colours, yellow saw somewhat of a resurgence among the brands exhibiting at Baselworld. Watches and pieces of jewellery sporting citrines, sapphires and honey-hued diamonds stole the hearts of all attendees.

CollectionS 51

02/05/2018 09:15

COLLECTIONS // WATCHES

A Luxury

Hand-me-down One of the world’s most sought-after luxury assets has seen a surge in second-hand sales in recent years

IMAGES: © shutterstock

By Kayley Loveridge

52 CollectionS www.artsandcollections.com

AC14A.Luxury Watches.indd 52

02/05/2018 09:16

WATCHES // COLLECTIONS

he luxury watch market is unique in terms of its investment opportunity: huge monetary returns are highly unlikely and expensive timepieces often depreciate in value. That’s not to say that an investment isn’t worthwhile, though. In April 2017, the Sotheby’s Watches auction in London achieved a stunning grand total of £2,258,000. The highest achiever of the night was a Paul Newman Panda Rolex timepiece which went under the hammer for £272,750 (more than double its highest estimate). Close behind followed the sale of a George Daniels Millennium watch, which sold for £187,500 and a Lemania watch— once owned by one of Britain’s greatest prime ministers, Winston Churchill—that fetched an impressive £162,500 (more than six times its highest estimate). The luxury watch market also saw a massive 6.3 percent rise in global exports in November 2017, up from the same time in 2016. An analysis by Technavio, in their report Global Luxury Watch Market 20172021, predicts that the global luxury watch sector will grow at a compound annual growth rate (CAGR) of 2.95 percent during the period of 2017 to 2021. The key brands driving this surge in growth, they predict, will include giants Rolex, Richemont, Swatch Group and LVMH. Rolex has historically always stolen the show when it comes to value appreciation and investment worth. Unapologetic in pricing, Rolex watches can sell (new) from anywhere between £5,000 and up into the millions. These figures are promising, but the second-hand trade of luxury timepieces has been quietly disrupting the market in recent years, with a rapidly growing surge in trade. Chief executive of opulent watchmaker Audemars Piguet, FrançoisHenry Bennahmias, told Reuters in January that ‘second-hand is the next big thing in the watch industry’. Known as the ‘grey market’, second-hand online retailers often use unauthorised sellers to bring nearlynew or barely-damaged luxury watches from the likes of Rolex, A. Lange & Söhne and Breitling for a fraction of their original retail price. This method of selling has been criticised within the industry for damaging the price integrity of the products and is largely steered by online third-party retailers including Chrono24 and The RealReal. To give an idea about the kind of discounts

www.artsandcollections.com

AC14A.Luxury Watches.indd 53

on offer, The RealReal currently display a diamond-studded Audemars Piguet Royal Oak (with moderate scratches) for a mere $9,450—approximately a third of the estimated retail price. Previously, luxury watchmakers have largely eschewed the second-hand trade, fearing that participation would dilute the exclusivity of the brands themselves. But now, proprietors like the venerable Audemars Piguet have begun to respond to the changes in consumer behaviour. The Swiss watchmaker has said that it would be rolling out its second-hand business throughout several of its Swiss outlets, allowing customers to trade in their old Audemars Piguet watches in part-exchange for new or different models. Contrary to initial fears, this new business model may actually boost sales in full-priced assets. Joining Audemars Piguet in its venture into second-hand retail is high-end watch maker H. Moser & Cie, who plan to launch their second-hand website later this year. ‘It is important to control the sale of secondhand watches to protect the owners and the value of watches already in the market by keeping the “grey market” in check,’ said the company’s CEO, Edouard Meylan.

Analyst for Kepler Cheuvreux, Jon Cox, estimates that the size of the second-hand luxury watch market sits at around $5 billion, including watches sold at auction. Britain is one of the largest markets for pre-owned luxury watches, second only to the United States, according to American retailer Danny Govberg. Govberg, CEO of 100-year-old Govberg Jewelers, sells new watches for high-end brands including Rolex but has recently introduced second-hand luxury timepieces into its inventory. Govberg told news agency Reuters that the second-hand trade within his company had increased by around 30 to 40 percent year-on-year over the past five years. Does this mean that new, first-issue timepieces will lose out? It’s doubtful; the global new luxury watch sector is worth more than $45 billion—over nine times the worth of the second-hand market. But it does mean that more vintage articles may be available than ever before for investment junkies. As is largely the case with vintage jewellery, the provenance attached to the piece is pivotal in its success at auction— making second-hand timepieces all the more desirable in the auction room. 

CollectionS 53

02/05/2018 09:16

COLLECTIONS // INVESTMENT

Luxury

Investment Index

With comment from Andrew Shirley, author of the Knight Frank Luxury Investment Index, Arts & Collections investigates the top-performing assets of 2017 and offers predictions for 2018 and beyond

IMAGES: © Sotheby’s; Christie’s

By Phoebe Ollerearnshaw

54 CollectionS

AC15.Luxury Index.indd 54

www.artsandcollections.com

02/05/2018 09:51

INVESTMENT // COLLECTIONS

he U.K. luxury industry is worth £32.2 billion to the British economy. But, with socioeconomic uncertainty on the horizon, will this sector continue to flourish? We delve into the intricacies of luxury investment and evaluate how each asset is currently faring.

Top-performing luxury investment assets Art was the top-performing asset in the Knight Frank Luxury Investment Index (KFLII) during 2017, overtaking recent front-runners wine and classic cars. According to data from Art Market Research (AMR), the average value of art rose by an impressive 21 percent. The asset skyrocketed after a contrasting pair of portraits made record-breaking sales last year: one created in the late 80s, the other painted during the 15th century. Setting a new record for an American artist, Untitled (1982) by Jean-Michel Basquiat left the art world stunned when it sold for $110.5 million at a Sotheby’s auction. Not long after, the once-in-a-lifetime Old Master painting Salvator Mundi (c.1490) by Leonardo da Vinci appeared on the scene. The Christie’s sale proved that despite criticism of condition and authenticity, an artist’s name carries immeasurable value. The painting sold for a staggering $450 million, smashing the previous world auction record of $179 million set by Picasso’s Women of Algiers (1955) in 2015. Although these are examples are from the top end of the spectrum, they are indicative of the strong performance of the wider art market in 2017. Director at AMR, Sebastian Duthy, speculates that ‘after a depressed market in 2016 caused widespread concern, consignors were tempted back by auctioneers last year. The desire among wealthy art enthusiasts to add to their new museums carried on through 2017, while the appetites of great institutions such as the Louvre, which opened a new franchise in Abu Dhabi, put more pressure on supply’.

Andrew Shirley Andrew Shirley, author of the Knight Frank Luxury Investment Index, provides Arts & Collections with his perspective on the topic of luxury investment

Right: Leonardo da Vinci Salvator Mundi, c.1490 Oil on panel 45 x 66 cm. Facing page: Jean-Michel Basquiat Untitled, 1982 Acrylic, oil stick and spray paint on canvas 183.2 x 173 cm.

www.artsandcollections.com

AC15.Luxury Index.indd 55

CollectionS 55

02/05/2018 14:35

Arts & Collections is now on Instagram Follow @artsandcollections for the latest news and updates on investment trends, luxury collectables and fine art

@artsandcollections Arts & Collections Instagram..indd 1

02/05/2018 10:22

IMAGES: © SHUTTERSTOCK

INVESTMENT // COLLECTIONS

He added, ‘As prices for the very best 19th and 20th-century art continue to hit the headlines, there is hope within the industry that the sensational da Vinci sale could attract a wider audience to Old Masters in 2018.’ Wine, which was KFLII’s top-performing asset class in 2016, put in another stellar performance last year and secured second place. Andrew Gordon, managing director of Private Cellar—a bespoke cellar management service for high net worth collectors—believes that increased demand from Asia could account for the moderate growth seen in the index. ‘Our fine wine list has seen unprecedented turnover in recent months with particularly strong demand for stock with perfect provenance from discerning Asian customers,’ he says. ‘While partly due to the devaluation of sterling against other currencies, I do not believe that it’s a simple currency issue— buyers in the Far East have extremely sophisticated tastes and an ever-increasing depth of knowledge, which makes it an exciting time for buyers and sellers alike,’ he concludes. Scarcity-driven wine markets are remaining particularly strong, notes Nick Martin, founder and executive director of Wine Owners. ‘Burgundy markets rose 16.5 percent on the back of more or less insatiable global demand for the top wines, and a series of short harvests culminating in the 2016 release where some communes were down in volume by as much as 70 percent due to frost damage,’ he says. Rarity, therefore, is a dominant driver of interest in wine collection, as is growing appreciation from international markets. The assets snapping at the heels of art and wine in the 2017 KFLII are watches, coins, jewellery and cars. While these classes didn’t perform as well overall, they still produced some record-breaking sales. The jewellery sector witnessed the 18.04-carat Rockefeller emerald sell for an astonishing $5.5 million in June 2017 at a Christie’s sale in New York—a record-breaking result. According to AMR, the wider jewellery market saw steady price growth over the last 12 months. Despite being ranked seventh within the 2017 index, classic cars are still the best-performing asset over a 12-year period. Short-term classic car values may have tumbled due to accumulated stock on the market, but overall, the market has shown steady returns

www.artsandcollections.com

AC15.Luxury Index.indd 57

since 2005 with average prices rising nearly fourfold since then.

Influential factors The Knight Frank Wealth Report 2018 ranked the top reasons for wealthy clients to invest in luxury items, these are ordered as follows: 1. Joy of ownership 2. Capital appreciation 3. Safe haven for capital 4. Investment portfolio diversification 5. Status among peers Charu Gandhi, director of Elicyon, a Chelseabased interior design studio, believes the drive for art and other luxury investment is straightforward: ‘Luxury collections are all about private enjoyment. My clients want to be able to enjoy their favourite pieces with their loved ones every day in the comfort of their home.’ The wealth report also offers the view that technology is a ‘long-term driver of consumer behaviour’. Recent trends prove that shoppers are increasingly opting for the internet over the high street, which in

Above: Wine investment has become more commonplace in the Far East, meanwhile scarcity-driven wine markets remained strong in 2017.

turn could be affecting investment choices. According to audit firm Deloitte, online purchases have risen from almost three percent to over 18 percent in the 10 years from 2006. Forecasts predict that this will rise to 30 percent by 2030. According to author of the KFLII, Andrew Shirley, investment trends can also be influenced by geographical location, ‘culture and infrastructure’. ‘In China, for example, classic cars tend not to capture the imagination as they do in the U.S. or U.K. That’s partly because people want to drive something new, not second-hand, and young kids growing up don’t have pictures of racing drivers on their walls. Wine, of course, is never going to have a high profile in the Middle East, but jewellery has always been seen as a source of wealth there as well as in Asia,’ he says.

CollectionS 57

02/05/2018 09:52

COLLECTIONS // INVESTMENT

The Brexit effect Political uncertainty and seismic currency fluctuations have left the view of investment somewhat foggy. For some sectors, the sharp fall in the value of sterling has been good news—the U.K. tourism industry being a prime example. The weak pound has made the U.K. an attractive destination for foreign visitors, now viewing it as a shopping haven for luxury brands. Tour operator Shanghai Spring Tour reported a surge in trips to London from Chinese travellers—a 20 percent increase since the referendum in 2016. By the end of July last year, the pound stabilised slightly: staying at around minus 10 percent against the dollar and minus eight percent against the euro. Since then, some early signs of negative macroeconomic activity have started to appear. According to The Telegraph, July’s Markit PMI, data shows that the U.K. economy shrunk at its fastest pace since 2009. This has prompted many to predict that a shallow recession could be on the horizon.

58 CollectionS

AC15.Luxury Index.indd 58

Looking ahead

investments of passion will remain secure and steadfast. ‘I think the global financial crisis highlighted the risks associated with traditional investment classes such as equities. Since then, tangibility has been much more of a driver for those looking to diversify their investment portfolios. In the more unstable parts of the world, being able to put your wealth into your pocket in the form of jewellery remains an appealing proposition,’ Shirley comments. ‘Because the market is so diverse, it will never remain static, but I think, in general, people are becoming more considerate about what they buy, so 2018 will be a year of steady accumulation. However, there will always be some surprises out there like the $450 million Salvator Mundi,’ he concludes. Will the rest of 2018 and 2019 bring with them a similar string of unprecedented record prices and extraordinary items of intrinsic value? Let’s just wait and see. •

In an era that’s rife with political and economic unrest, the future of investment is uncertain. However, many wealth management advisors seem confident that

Below: Luxury cars may have seen a dip in sales in 2017, but they still remain the strongest performer over a 12-year period.

For U.K. retailers, the outlook is dependent on which markets most contribute to their sales—overseas or domestic. Ones that rely on imports from abroad are suffering the most from trade barriers, supply chain vulnerability and legislative changes. Tech giant Apple, for instance, raised its app store prices in the U.K. by 25 percent this January, citing ‘foreign exchange rates’. Likewise, Russian luxury jeweller Fabergé increased its British pricing by 10 percent in March to balance out the sterling depreciation. Meanwhile, British fashion house Burberry reported that their adjusted profit for the year will have ‘boosted by about £90 million if exchange rates remain at current levels, compared with a previous forecast of £50 million’. As Brexit negotiations battle on, the outcome of various members of the luxury sector hangs in the balance.

www.artsandcollections.com

02/05/2018 12:50

Ivana BV.indd 1

20/04/2018 15:54

collections // Classic cars

Resurrecting

a Classic

Arts & Collections investigates the resurrection of Jaguar’s classic D-type model—one that incorporates style, nostalgia and modern flair—while assessing the prosperity of cars within the Luxury Investment Index By Phoebe Ollerearnshaw Despite having a rocky year in 2017—slipping back to sixth place on an annual basis with average prices rising by just two percent—the index suggests that vintage vehicles are one of the top-performing assets over a 12-year period. Classic car values may have taken a tumble over the short-term, but their performance has proved to be relatively consistent compared with other categories, such as art. An examination of the asset’s performance shows that small-cap cars (those selling for less than €100,000) had the highest quantity sold. The top lot cars (those selling for more than €1 million) performed the best in terms of actual turnover. Due to the shifting political and socioeconomic landscape, traditional investment markets have become more unsettled—hence the degree of safety that lies in tangible commodities such as art, jewellery, watches and collectable cars. According to a report by AXA Art, classic car prices have dipped slightly: a decline driven by an abundance of cars that have recently flooded onto the market. However, the account also shows that values at the top end of the market have remained robust. In fact, 2016 saw the astounding sale of a Ferrari 250 GT through RM Sotheby’s; the 1961 SWB California Spider fetched $18.5 million at auction. More recently—in August 2017—a new world record was made for a British automobile, the 50s Aston Martin DBR1 sold for $22.5 million. The vehicle was raced by legendary driver Stirling Moss and was also auctioned by RM Sotheby’s. Chris Bentley of AXA Art offered his views on the topic, saying: ‘Classic cars are purchased by people who are not typically driven by financial considerations but by an admiration of iconic design and high performance.’ It is perhaps the nostalgic nature of classic vehicles that intensifies their appeal, especially to individuals with a keen eye for specific models. If manufacturers like Jaguar continue to acknowledge and respond to these trends, we may well see luxury car prices soar once again. 

recurring theme that’s circulating within the automotive community this year is that of restoration and resurrection. Some of the most renowned car manufacturers are reviving their iconic models from the past and introducing them back into the market. A trend that Jaguar’s most recent ventures perfectly demonstrate. This year, Jaguar announced that it is recommencing production on the Jaguar D-type, marking the first time the car has been in circulation in over 60 years. A total of 25 replicas will be hand-built to kick-start the project at Jaguar Land Rover’s new Classic Works Tour in Warwickshire, U.K. The Jaguar D-type was first produced between 1954 and 1957. Its structural design was revolutionary for its era, applying groundbreaking aeronautical technology. Jaguar Land Rover Classic’s director, Tim Hannig, said, ‘The opportunity to continue the D-type’s success story, by completing its planned production run in Coventry, is one of those once-in-alifetime projects that our world-class experts at Jaguar Land Rover Classic are proud to fulfil.’ The remake of the D-type coincides with another development the automotive giant has put into action. In September 2017, Jaguar presented an electricpowered Jaguar E-type at the Jaguar Land Rover Tech Fest in London—based on the 1968 1.5 E-type Roadster. The rejuvenated car, labelled the E-type Zero, combines the sleek aesthetic of the original vehicle with the added benefit of no emissions. The contemporary tweaks made to the E-type Zero have vastly improved the car’s performance, making it faster than the 1968 series. Its cutting-edge electric powertrain enables it to reach speeds of zero to 62 miles per hour in just 5.5 seconds. This bold move by Jaguar exemplifies the evolving inclinations of automobile collectors. Potential investors are hungry for new technologies, yet still yearn for vintage models. Data from the Knight Frank Luxury Investment Index report concurs with this analysis.

60 CollectionS www.artsandcollections.com

AC16.Classic Cars.indd 60

02/05/2018 09:55

Classic cars // Collections

www.artsandcollections.com

AC16.Classic Cars.indd 61

CollectionS 61

02/05/2018 09:55

collections // fine wine

A Toast to

2018

Leading London wine merchants Berry Bros. & Rudd offer expert insight into investing in one of the luxury market’s most tangible assets in 2018 By Kayley Loveridge Hong Kong while the Sotheby’s global wine auction total reached an eye-watering $64 million by the end of a successful 2017. So, what makes fine wine such an investable commodity? The buying team at Berry Bros. & Rudd tells Arts & Collections that the wine market has always been fairly resilient in comparison to other luxury investment markets including jewellery and property. ‘Fine wine is a tangible asset; it’s a luxury product that we aspire to own, consume and know more about,’ they say. ‘For many, it’s far more useful than gold, and easier to enjoy than art. Moreover, demand and interest in fine wine is growing around

the world and supply of the top wines cannot be increased—supply is limited.’ Investing in fine wine is straightforward in its approach, too. ‘Wine is an easily transferable asset, plus there is an established fine wine market and a thriving auction market in place.’

Old World, New World This year is set to be a healthy one for wine investors, with strong 2017 harvests already being prepared for 2018 ripe-forthe-picking en primeur options—and not just from the traditional Old World wines of Europe. According to Berry Bros. & Rudd, New Worlders Sadie, Mullineux

017 saw robust returns at auction for wine sellers—despite the potentially destructive impact of Brexit on most U.K. investment markets. Auction house Christie’s’ top selling lot in 2017 was a 12-bottle case of the wine world’s revered Romanée-Conti from a 1988 vintage, raking in £198,000. Meanwhile, a single bottle of Château Lafite-Rothschild (vintage 1908) sold for a staggering £45,600 in its December wine auction. The wider global market has also produced similar screaming triumphs for wine sellers. A 12-bottle case of a 1947 Château Cheval-Blanc saw returns of more than $200,000 USD at a Christie’s auction in

62 CollectionS www.artsandcollections.com

AC17.Wine Investment.indd 62

02/05/2018 10:04

fine wine // collections

A sparkling choice

and Kershaw from South Africa are strong contenders for good returns this year: ‘All three are producing wines that are globally recognised.’ As for sparkling wines, the centuries-old merchant suggests choosing products from English vineyard, Hambledon. ‘The wines really are some of the best—if not the best—and just get stronger every year.’ So worth it, are these wines, that the experts go so far as to say that Hambledon’s fizz is ‘the best of the English fizz bunch’. Keep an eye out for a crop from the Greek wine region of Lyrarakis. This region focuses its energy on celebrating, reviving and protecting indigenous grape varieties, making it a unique choice. Greek winemakers have seen a surge in popularity in recent years, pushing investors to expand their Old World portfolio to include a more eclectic selection beyond the ‘safe’ French varieties.

www.artsandcollections.com

AC17.Wine Investment.indd 63

Sparkling wines have long been a favourite among connoisseurs and casual drinkers alike. In recent years, however, varieties including Cava are having their day and are seeing massive growths in investment. Berry Bros. & Rudd suggest that the ‘prosecco bubble may have burst a little, down in part to pressure on supply and therefore pricing’. In contrast, Crémant de Limoux (which is similar to Champagne in its nuances) by French winemaker Antech has seen a 191 percent increase in sales volume year-onyear at Berry Bros. & Rudd alone. ‘Crémant has on its side variety (regional and otherwise) therefore complexity, competitive pricing and the fact that it is carefully regulated [make it] qualitatively both consistent and impressive.’

Smart investing This year, buyers must be smart in their investment choices—not just in terms of which wine to invest in, but with timing and how to invest—in the current uncertain economic climate. Begin by sourcing a reputable merchant. ‘Many unscrupulous merchants and wine investment houses will have a few qualms about selling the wrong wines or the right wines and the wrong prices for investment. Only buy from established

merchants,’ the wine seller experts explain. Buying en primeur may also prove to be financially beneficial in the long term. En primeur refers to wine that is bought before it is bottled and distributed to the wider public. ‘This should be the opening and hopefully cheapest time to buy.’ Would-be buyers are often told that they should have a healthy minimum of £10,000 in the bank for their portfolio if they expect to garner decent returns. Berry Bros. & Rudd offer alternative thoughts, recommending that buyers ‘invest in wines that they can afford to drink’. The merchant adds: ‘Most people who enjoy wine can see that treating themselves to a fine bottle at home or in a restaurant for £100 is conceivable. Wine at £500 a bottle has eliminated the vast number of wine lovers. Stick to what you feel you might treat yourself with.’ On a final note, remember that wine is (most definitely) not a fast or quick returns investment. ‘Experience suggests that a minimum of a five to 10-year term is a good benchmark,’ says the merchant, ‘But one should bear in mind that for the most part you will be buying wines with a lifespan of 10 to 20 years and more, and that their financial maturity will be linked with their drinking maturity.’ 

CollectionS 63

02/05/2018 10:04

COLLECTIONS // FASHION

An Ageless

Accessory From colour and make to design and personalisation, there are a lot of features that can turn Hermès Birkin bags into valuable assets By Annalisa D’Alessio

Above: An exceptional, matte white Himalaya Niloticus crocodile diamond Birkin 30 with 18-carat white gold & diamond hardware. Initially estimated to fetch between HKD1,500,000-2,000,000, it actually sold for HKD2,940,000 (£267,000) at a Christie’s Handbags & Accessories auction in 2017. Hermès, 2014.

64 CollectionS www.artsandcollections.com

AC18_Birkin.indd 64

02/05/2018 10:27

FASHION // COLLECTIONS

ne of the most exclusive handbags in the world, the Hermès Birkin has a fascinating story behind its chance creation. It’s the year 1983; Jean-Louis Dumas—the then-chairman of the luxury brand—is sitting next to singer and actress Jane Birkin on an Air France flight from Paris to London. Jane drops her diary, stating that she has yet to find a handbag that is stylish as well as able to hold all of her possessions. Then and there, Dumas promised to have her dream bag made for her in his workshops. They began drafting its design on scraps of paper—the rest is history. Flash forward some 35 years and the iconic bag is now one of the most lucrative avenues for long-term investment. According to baghunter.com, a website that sells luxury handbags, the Birkin has historically been a safer investment than the stock market. A status symbol for the ultra-rich, the luxury accessory’s popularity has been driven by its impeccable quality, long waiting lists, media attention and relationship between its relatively low supply to its stellar demand. When investing in luxury handbags, quality should be seen as a valuable asset. It takes around 40 hours for a craftsman to produce the Birkin. The famous saddle stitch on which the brand’s reputation is based cannot be replicated by a machine, making the bag a truly handmade work of art. Limited-edition, one-of-a-kind pieces have historically always appreciated in value. Connoisseurs who have a solid knowledge of Hermès materials, models and shades will know a great find when they see one. To these discerning collectors, there is nothing better than stumbling across a bag with a ‘horseshoe stamp’—a clear sign that it was custommade to the specifications of a top collector. According to Rachel Koffsky, associate specialist of handbags and accessories at auction house Christie’s, a horseshoe stamp can increase the auction estimate of a bag by up to 200 percent. Other personalised touches can include a contrasting interior, a brushed finish to the hardware or contrasting stitching. In 2017, Christie’s sold a custom Birkin with white gold and diamond hardware for a world-record price of £267,000, making it the most desirable bag in existence. In addition to personalisation, there are other factors that can dramatically increase the value of a Birkin bag. Colour, material and design are three fundamental aspects

www.artsandcollections.com

AC18_Birkin.indd 65

that collectors should pay close attention to. It goes without saying that bags made out of exotic and rare leathers will appreciate in value—ostrich is one of the rarest and most eye-catching skins available, as is crocodile. However, prospective purchasers should keep in mind that some countries prohibit the importation of such items due to the fact that they are created with materials from endangered species. In terms of colour, Hermès prides itself on the rigour of its dyeing process. According to Christie’s, all its leathers are dyed by highly trained artisans with near-military precision. At auction, pink and blue Birkins have historically achieved the highest values— collectors should keep an eye out for shades such as Rose Confetti, Rose Sakura and Bleu Saphir. As is often the case in the luxury fashion industry, some specific designs are rarer than others. As nearly every model of the Birkin is held at a very low level of production, some are enormously difficult to find. One specific collection—which was designed by Jean Paul Gaultier during his seven-year stint as Hermès’ chief designer from 2003-10—seems to have achieved somewhat of a mythical standing. Currently one of the most desirable on the market, the So Black collection features a black hardware effect created by a PVD

Above: A rare matte black Niloticus crocodile So Black Birkin 30 with black hardware. This lot was offered in a Handbags & Accessories sale in November 2017 at Christie’s in Hong Kong and sold for HKD1,125,000 (£102,000). Hermès, 2010.

coating. When it was first released in 2010, it was quickly pulled from distribution due to the hardware’s delicate nature. It’s safe to say this only served to attract avid collectors.

How to store and care for your designer bags While it’s true that most luxury bags appreciate in value over time, their worth may decrease if not kept in the best condition possible. Every time these handbags are used, they must be cleaned and emptied. Depending on their material, lint rollers, alcohol-free wipes or damp paper towels may be used to polish the surface. Once they’re clean, bags can be stuffed with acid-free tissue paper or bubble wrap—this will allow them to keep their shape. In terms of storage, these accessories must be placed in a breathable dust bag—or pillowcase—and separated from other items to prevent colour transfer and other blemishes. They should be stored in their original box or lined in a closet. •

CollectionS 65

02/05/2018 10:27

Super Sail.Rev2.indd 1

27/04/2018 14:02

Yachting is and should be an enjoyable experience—we at SuperSailYachts.com seek to ensure it stays that way. Our objectives are to deliver excellent, well organised luxury crewed, corporate and super yacht charters on the most suitable and best available mega yachts and luxury crewed charter boats. Whatever your luxury yacht charter plans may be, our highly innovative and flexible team will manage all your requirements with the utmost care, professionalism and—where necessary— full discretion. SuperSailYachts are a great team of yachting enthusiasts ready to support, advise and assist yacht charter clients in every aspect of luxury crewed and super yacht charter.

Book your Yacht now!

www.SuperSailYachts.com charter@SuperSailYachts.com +44 (0) 121 285 8010 Facebook.com/SuperSailYachts Twitter.com/SuperSailYachts

Super Sail.Rev2.indd 2

02/05/2018 09:32

COLLECTIONS // FABERGÉ

Fabergé Eggs

Art Charting Romanov Rule Made with precious materials and characterised by exquisite craftsmanship, Fabergé eggs are the ultimate collector’s item. Join Arts & Collections on a journey through their fascinating history

By Annalisa D’Alessio

Above: A photograph of the royal family of Tsar Nicholas II, taken in 1913. Left to right, seated: Grand Duchess Marie Nicholaevna, Tsarina Alexandra Feodorovna, Tsarevitch Alexei Nicholaevitch, Tsar Nicholas II and Grand Duchess Anastasia Nicholaevna. Standing: Grand Duchess Tatiana, Grand Duchess Olga.

68 CollectionS

AC22.Fabergé.indd 68

www.artsandcollections.com

02/05/2018 10:59

FABERGÉ // COLLECTIONS

ade of gold and coated in white enamel. The first-ever imperial Fabergé egg—the Hen Egg— was made in 1885 for Tsar Alexander III. It was the Tsar’s gift to his wife, Empress Maria Feodorovna, for Easter, one of the most important celebrations of the RussianOrthodox ecclesiastical calendar. Inside it was a round golden ‘yolk’, which once opened revealed a gold hen set with ruby eyes, itself concealing a gold and diamond replica of the crown and a ruby pendant suspended on a chain. The gift was so well-received that Tsar Alexander placed a standing order with renowned jeweller Peter Carl Fabergé to produce an egg for his wife every Easter after that, requiring that each egg be unique and contain a ‘surprise’ within it. According to Fabergé family tradition, the company was given complete creative freedom for these imperial eggs and spared no expense. When Alexander III died in 1894, his son, Tsar Nicholas II, decided to keep the tradition alive and commissioned two eggs a year, one for his mother Maria and one for his wife Alexandra. Though the exact figure is still unknown, it is believed that Fabergé made around 50 imperial eggs for the Romanovs between 1885 and 1917. These objets were made each year except 1904 and 1905, during the Russo-Japanese war. In 1917, after Nicholas II’s abdication, the Romanovs went into exile. They were violently executed a year later. By that time, Fabergé’s workshop had disbanded, and the Fabergé family had left Russia. After the Bolsheviks took St Petersburg during the Russian Revolution, the 50 imperial eggs were transported to Moscow; many were sold, the ‘surprises’ within them given away separately. Out of the original 50, only 43 are known to still exist. Today, they are each worth millions; some are in the possession of private owners and others housed in prestigious museums and collections around the world.

Uniquely precious Every egg, which was designed to be a piece of art in its own right, is a completely oneof-a-kind creation. Made from a wide range of materials including rock crystal and gold, these precious masterpieces were known to take around one or two years to create. They ranged in size, too; each between three to five inches tall. Although Carl Fabergé was at the

www.artsandcollections.com

AC22.Fabergé.indd 69

Above: The Kelch Chanticleer Egg (1904) was made by Fabergé for the Russian industrialist, Alexander Kelch. Though not an imperial egg, it is opulent nonetheless. This is only one of four eggs with an ornamentation surprise and a clock.

CollectionS 69

02/05/2018 10:59

COLLECTIONS // FABERGÉ

helm of the process, he never participated in the actual construction. The eggs were left to be realised through the hard work of various craftsmen—from painters and metalsmiths to master diamond-cutters—all bound by the utmost secrecy. Among the most famous examples is the Imperial Coronation Egg (1897), currently housed in the Fabergé Museum in St Petersburg. The gold and yellow enamel creation conceals a precise miniature replica of the 18th-century royal coach that carried Tsarina Alexandra to her coronation. Missing from the egg are a few ‘surprises’ including an emerald pendant and a glass-enclosed jadeite stand. Another notable Easter egg is the Fifteenth Anniversary Egg (1911). Made of gold, green and white enamel, this creation is decorated with various diamonds and rock crystals. Its designs commemorate the 15th anniversary of Tsar Nicholas II’s coronation. Unlike most eggs, this particular one wasn’t engineered to open or conceal a ‘surprise’.

‘Tiffany, Cartier and Boucheron are people of commerce. I am the artist jeweller. You can spend millions of rubles and buy strings of pearls—but if you want to buy something artistic, you have to come to me’ —Peter Carl Fabergé, 1914

These opulent objects enjoyed great fame from the start. Fabergé was commissioned to make similar versions for an impressive list of private clients, including the Duchess of Marlborough, the Rothschilds and the Yusupov Russian noble family. As many as 12 eggs were also created for nobleman and industrialist Alexander Kelch— who is most famously known for his gold-mining fortune—though only seven appear to have been completed. Their influence travelled well beyond Russia, too. Countless artists tried to make their own versions and designs, though none reached the same level of influence and fame as the original Fabergé eggs.

Fabergé at auction Devoted Fabergé collectors and scholars have focused their attention on the seven

70 CollectionS

AC22.Fabergé.indd 70

missing imperial Easter eggs. In 2012, the 43rd egg resurfaced from obscurity. The Third Imperial Egg (1887), was found at the home of an American—he had bought it at a flea market. At the time, it was estimated to be worth around $33 million. In 2007, one of the Rothschild eggs—which were made in 1902 for the famous American banking family—sold for an eye-watering £8.9 million at a Christie’s auction. Although not an imperial egg in itself, it was still made according to the same high standards required by the Romanovs. A previous auction record was held by the Fabergé Winter Egg (c.1913), which fetched £6.6 million in 2002. At the time of its creation, the Winter Egg was the most expensive ever made; it cost Nicholas II 24,700 Russian rubles at the time.

Above: The Romanov Tercentenary Egg (1913) is made of gold, silver, rose-cut and portrait diamonds, turquoise, purpurine, rock crystals and watercolour painting on ivory. It celebrates the tercentenary of the Romanov dynasty—from 1613 to 1913—and displays 18 portraits of the Romanov Tsars of Russia.

Fabergé’s last imperial egg also went under the hammer. Crafted in 1916, it reflected an unstable moment in Russian history and was less opulent and elaborate than previous pieces. The Order of St. George Egg (1916) was given a more ‘modest’ design—though it was still made out of diamonds and enamel— in keeping with the austerity of World War I. In 1960 it was sold at a Sotheby’s auction for over $30,000 to the Fabergé Company. In 2004, as part of the Forbes Collection, it was

Other commissions

www.artsandcollections.com

02/05/2018 10:59

FABERGÉ // COLLECTIONS

‘People started to talk about setting the Fabergé, rather than laying the table’ —Toby Faber sold again—with eight other imperial eggs alongside it—to Ukranian businessman Viktor Vekselberg for $100 million. The nine eggs are now housed in the Fabergé Museum in St Petersburg. For the most part, Fabergé eggs remained economically ‘out of reach’ for the middle class at the height of the company’s fame. However, the jeweller also produced cutlery and other objects aimed at Russian up-and-comers. The brand became so iconic that ‘people started to talk about setting the Fabergé, rather than laying the table,’ said Toby Faber, author of Fabergé’s Eggs: The Extraordinary Story of the Masterpieces that Outlived an Empire. In November 2008, Sotheby’s auctioned various pieces of Fabergé—including a gold and diamond snuff-box, a gold and enamel diptych and a gold cigarette box. The sale realised a total of £1.9 million.

The Fabergé trademark Established in St Petersburg in 1842 by Gustav Fabergé, the brand was best known for crafting fine objects and jewellery and assisting in restorations for the Hermitage Museum. When Gustav died, the company was left to his son, Peter Carl Fabergé who took control of it in 1882. He earned the coveted title of ‘goldsmith by special appointment to the Imperial Crown’ when he was commissioned by the Emperor to make the first-ever Fabergé Easter egg in 1885. An object that would go down in history, this is what propelled the jewellery house to worldwide recognition. In 1900, at the height of its success, the Fabergé brand was the largest jewellery firm in Russia, employing over 500 craftsmen and designers. After that, the company grew from strength to strength, opening various branches, exhibiting their creations at expositions around the world and even earning royal warrants by the courts of Sweden and Norway. Peter Carl Fabergé was a visionary and moderniser with an eye for quality; he even pioneered a mail order catalogue to enable sales of his creations across the Russian Empire.

In modern times Over a century on, Fabergé eggs continue to enjoy high standings in the estimations of collectors, historians and art connoisseurs alike. In addition to being precious in their make, their fascinating history continues to capture the public’s imagination. Interest in these opulent eggs shows no signs of fading, in part because of their finite number, the mystery surrounding the missing creations, their stellar monetary worth and the sentimental value they held for the Romanovs. A little over 10 years ago, Fabergé started producing exquisite pieces of jewellery reflecting the romantic decadence and lavishness of the brand. These pendants— which sport the unmistakable egg charm— are a modern symbol of the jewellery firm’s reputation, which is deeply rooted in history. • Right: The Rose Trellis Egg (1907) now resides in the Walters Art Museum in Baltimore, Maryland. It is crafted of gold, green and pink enamel in various shades, portrait diamonds, rose-cut diamonds and satin lining. When gifted to Tsarina Alexandra Feodorovna, it contained a surprise diamond necklace and an ivory miniature portrait of the Tsar framed in diamonds.

www.artsandcollections.com

AC22.Fabergé.indd 71

CollectionS 71

02/05/2018 11:00

collections // style & design

A Fashionable Stay From Armani’s colossal eyrie to Versace’s exotic sanctuary, we glance at the best-conceived fashion designer hotels from around the globe By Phoebe Ollerearnshaw

ashion and interior design have always gone hand in hand. Therefore, it comes as no surprise that some of the world’s most illustrious fashion designers have traded the runway for the hotel industry. We explore the crème de la crème of fashion designer hotels.

Armani Hotel, Dubai—Giorgio Armani As the winner of the 2016 World Luxury Hotel Awards, the Armani Hotel in Dubai sets the bar high in terms of elegance. Located within the iconic Burj Khalifa—the world’s tallest building—it was the first in a series of hotels and resorts to be designed by Giorgio Armani. Opened in 2010, the 10-storey hotel consists of 160 rooms, all decorated to the highest standard. The Italian fashion designer is said to have overseen every detail of the design from the minimalist furniture and the neutral colour palette to the opulent motherof-pearl doors of the suites. Aside from the usual amenities, more outrageous comforts are available. These include in-room 24-carat gold iPads and private jet services. Each guest is assigned their own personal ‘lifestyle manager’ who can offer their expertise on booking the city’s hottest restaurants and fulfilling their guests’ every whim.

UXUA Casa Hotel & Spa, Brazil— Wilbert Das

Nestled in Trancoso, a small fishing village off the coast of Brazil’s historic state of Bahia, UXUA Casa Hotel and Spa is a welcome paradise escape. Dutch fashion designer, Wilbert Das—who is credited for propelling the Diesel brand to stardom—headed the project. The hotel opened its doors in 2009, beckoning a high-class clientele with its Right: A view of Burj Khalifa in Dubai—the tallest man-made structure in the world.

72 CollectionS www.artsandcollections.com

AC19_Designer Hotels.indd 72

02/05/2018 11:14

style & design // collections

authentic furnishings, rustic adornments and boho-chic vibe. The casas within the compound date back almost 500 years. This influenced the decision to use local artisans and traditional techniques for their restoration. Sustainability plays an integral role in the design of the hotel, with organic wood and reclaimed materials featuring heavily. The hotel is also complete with a luxury spa, lantern-lit garden, magnificent beach lounge and prestigious restaurant.

Bulgari Hotel, London— Antonio Citterio Patricia Viel & Partners Located in London’s bustling Knightsbridge, the Bulgari Hotel has established itself as one of the most distinguished venues within the capital. The building’s sleek architecture houses 85 spacious guest rooms and suites. Each are the epitome of refined style, featuring textiles and furnishings made exclusively for Bulgari. Metallic hues echo throughout the hotel, constructing a sense of tranquillity. Contrasting textures and materials—fine mahogany, cool marble and damask silk—work within the rooms for a harmonious effect. The Bulgari suites are among some of the biggest in London, providing an almost residential feel. Extra comforts include an award-winning cigar shop and sampling lounge, a ballroom and 47-seat cinema.

Palazzo Versace, Australia— Gianni Versace

Above [top]: One of UXUA Casa Hotel and Spa’s secluded huts; with private pool and decking.

www.artsandcollections.com

AC19_Designer Hotels.indd 73

Above [bottom]: Bulgari Hotel London’s stylish bar and lounge area.

Its launch in 2000 on the sub-tropical Gold Coast of Australia marked Palazzo Versace as the first entirely fashion-branded hotel in the world. The opulent property was the brainchild of Gianni Versace; the Italian fashion icon was heavily involved in the project before his untimely death in 1997. Indeed, the airy design is imprinted with his signature style and finesse. Tall pillars with gold mouldings frame the foyer and a large crystal chandelier greets guests upon arrival. Plush marble and intricately mosaicked floors give the hotel a distinctly Venetian feel. The complex boasts three gourmet restaurants and an exclusive waterfront setting. Meanwhile, Le Jardin restaurant offers a couture high tea experience that is sophisticated yet relaxed. Water salon, spa and fitness centres are also located on-site to provide guests with a luxurious experience and an unforgettable visit. •

CollectionS 73

02/05/2018 11:14

COLLECTIONS // WHERE TO SPEND IT

Where to

SPEND IT

From Land Rover’s newest model to Louis Vuitton’s personalised smartwatches, discover these must-have luxury items and collectables By Sam Stevenson

OFF-ROAD EXCLUSIVE Debuting at the Geneva Motor Show 2018, the Range Rover SV Coupé takes the carmaker’s flagship SUV to new levels of luxury and performance. Powered by a 5.0-litre supercharged V8, producing 557 horsepower, the SV Coupé will supposedly do 0 to 60 miles in five seconds. An extremely rare car, with just 999 total units produced, this model promises to turn heads in 2018. landrover.com

CONTEMPORARY LUXURY IVANA is an exclusive, contemporary and versatile luxury brand. IVANA has an artisan craft that is designed to satisfy demanding clientele and celebrities. Proud to be chosen by the royal family of Monaco: His Royal Highness Prince Albert II. ivanabags.com

STATEMENT SMARTWATCH

74 COLLECTIONS

AC20_Where to Spend It.indd 74

MAKE AN ENTRANCE Complete with a reworked, slightly softer toe and new stiletto, Jimmy Choo purveys its empowering sense of style through these Romy 85 courts. Part of the 20th anniversary Memento collection, the coarse glitter degradé finish embodies the London label’s penchant for red carpet luxury and pays tribute to its iconic entrance-making moments. jimmychoo.com

Louis Vuitton is known for giving its patrons the option of personalising their luggage with colourful stripes and initials. Now those customers can do the same with their watch, because the famed designer has launched its own Android Wear smartwatch. The Tambour Horizon, Louis Vuitton’s first smartwatch, can be purchased in an array of styles with different integrated functions. uk.louisvuitton.com

www.artsandcollections.com

02/05/2018 10:54

WHERE TO SPEND IT // COLLECTIONS

ART DECO MEETS SURREALISM Staffordshire-based ceramics manufacturer Wedgwood has teamed up with acclaimed designer Lee Broom to produce these gravity-defying statement pieces. A true showcase of cutting-edge design, with silhouettes and archetypal design taken from Wedgwood’s 250-year-old archive, these luxury collectables speak to the juxtaposition between old and new. leebroom.com

STAND OUT FROM THE CROWD

INNOVATION IN WATCHMAKING

A guaranteed statement timepiece, the original 1972 Audemars Piguet Royal Oak, designed by Gérald Genta, was a last-ditch effort to salvage the brand from financial woes. At the time, luxury watches were usually small and made of gold. Despite initial uncertainty, the iconoclastic Royal Oak was a great success. Today, the Royal Oak RD #2 pushes watchmaking boundaries; an ingenious redesign of the perpetual calendar function produces the brand’s thinnest model to date. The result is a tribute to Audemars Piguet’s long history of producing world premiers. audemarspiguet.com

Clive Christian fragrances are renowned for their heady opulence and bold extravagance. With a passion for exposing the extraordinary from the expected, Clive Christian perfumes— expertly crafted with the rarest ingredients—imbue their subjects with aromatic abandon. This year, the brand has released a masculine limited-edition perfume, available for a short time only. X is a tribute to adventure, derived from the Silk Road’s offerings, including cardamom, cinnamon and vetiver. clivechristian.com

RED CARPET-READY BRING MUSIC TO YOUR WRITING No one can deny Montblanc’s writing instruments are cherished for their understated luxury and exquisite designs—especially if they are limited editions. Of this, the Henry E. Steinway 888 is proof. Displaying all the iconic features of a Steinway grand piano, the pen’s cap is adorned with a piano harp representation—made from 18-carat gold—while a delicately embossed portrait of Steinway, himself, embellishes its nib. montblanc.com

www.artsandcollections.com

AC20_Where to Spend It.indd 75

Worn by French actor Isabelle Huppert at this year’s BAFTAs, this collection is a perfect match for the red carpet. Huppert shone in delicate and refined 18-carat white gold earrings (pictured), featuring pear-shaped diamonds (7.9 carats) Exemplifying nature’s majestic beauty, these stunning one-of-a-kind creations pay tribute to the lights and colours of the seasons. chopard.com

COLLECTIONS 75

02/05/2018 10:54

MULTI-AWARD WINNING ARCHITECTURAL PRACTICE â&#x20AC;&#x201C; BESPOKE DESIGN FOR A UNIQUE BOUTIQUE FEEL

MARCO BRAGHIROLI ARB RIBA SBID | 020 7971 1368

LONDON 2 MAGISTRATE HOUSE MARKET PLACE, TW8 8FJ LONDON@PRESTIGE.EU.COM

Prestige Architects.indd 1

MILAN VIA COLA DI RIENZO 35 20144, MILAN ITALY MILAN@PRESTIGE.EU.COM

18/04/2018 10:14

PROPERTY // COLLECTIONS

Property Talks Arts & Collections speaks to Mark Lowham, CEO and managing partner of TTR Sotheby’s International Realty, about the luxury property industry and its investment potential

Arts & Collections: Can you tell us a little bit about the state of the luxury realty industry and the role Sotheby’s International Realty plays in it? Mark Lowham: Luxury realty today is unquestionably a global endeavour. To be successful, a firm must be able to offer its clients access to information and talented professionals wherever their clients live or spend time. With 950 offices in 69 countries and territories and over 22,000 sales associates, Sotheby’s International Realty is the voice of authority in luxury realty. In the Washington, DC area, TTR Sotheby’s International Realty leads the market with more inventory and sales of luxury property priced over $2.5 million than any other firm.

MARK LOWHAM

CEO and Managing Partner of TTR Sotheby’s International Realty

A&C: In terms of investment, where is the best place to invest in luxury realty right now and why? ML: Washington, DC is my home, so I am somewhat biased. However, I believe that the Washington region affords tremendous opportunity for investment. Luxury homes in the best addresses in the region can still be acquired for $400 to $1,400 per square foot, a fraction of the prices we are seeing in New York, London and other global capitals. A&C: Which types of property do you see as up-and-coming going forward? ML: Large, luxury apartments are increasingly in demand in the Washington region. As

www.artsandcollections.com

AC15B_Property Talks.indd 77

many clients move from large single-family homes, they look for the convenience of a condominium, however, they still want the luxurious features and amenities which they have enjoyed in their homes. A&C: What has changed about the luxury property investment market in recent years? Has demand for these properties risen/decreased or stayed constant? ML: In our region, the city of Washington has experienced a great renaissance as our clients sought the convenience of walkable access to the fine shopping, restaurants and business environments offered in the city. A&C: What are your predictions for the luxury realty market over the next few years? Including predictions on emerging trends. ML: Global clients will continue to seek diversification and invest across markets. Cities which are easily accessible, have stable, growing economies and which provide a healthy environment will continue to attract investors and see significant appreciation in the decade ahead. A&C: If you could buy any property in the world, where would it be and what would it look like? Budget aside… ML: Next to Washington, my favourite city in the world is London. I dream of a Georgian flat overlooking the perfect garden in the heart of Chelsea. •

COLLECTIONS 77

02/05/2018 09:54

COLLECTIONS // PROPERTY

A Quick Look at

Luxury Property Investment We tap into the most promising neighbourhoods in the world’s greatest cities to determine areas for potential growth and investment By Phoebe Ollerearnshaw

78 COLLECTIONS

AC15A_Luxury Property.Rev1.indd 78

BAYSWATER, LONDON

PRESTIGE ARCHITECTS Marco Braghiroli is an Italian architect from Milan and the founder of Prestige Architects Ltd, specialising in high-end, bespoke boutique residential projects. Based in London, Prestige continues to create some of the most beautiful and innovative living spaces across the UK and abroad. www.prestige.eu.com

Given its close proximity to Hyde Park and the recent announcement to redevelop the Whiteley’s shopping centre, properties in the Bayswater region are expected to see significant price rises in the coming years. The development will see new facilities anchored around a courtyard and a five-star boutique hotel. This attractive hub will work to gentrify the area around Westbourne Grove—making it a magnet for property investors with means.

PALM JUMEIRAH, DUBAI The land of luxury and excess is proving to hold a particular appeal for affluent investors looking for their next steal. The world’s first series of artificial archipelagos—aptly named ‘The Palm’ due to its distinctive shape—have quickly

he ability to be ahead of the curve and identify future property hotspots is a coveted one by investors and second home buyers alike. In an otherwise uncertain investment world, real estate continues to attract capital—a strong demonstration of its stability over other asset classes. More often than not, this asset has rewarded brave investors with strong returns. Changing human behaviour and new technology are no doubt changing the nature of real estate, both as an investment class and as a product we all need—and use— as consumers. One thing is sure: these are challenging and exciting times for the industry. It must somehow find the perfect balance between risk management, entrepreneurship and innovation. Arts & Collections identifies the top property hotspots for ultra-high net worth individuals looking to invest.

www.artsandcollections.com

02/05/2018 09:56

PROPERTY // COLLECTIONS

gained a global reputation. The island attracts young professionals and families and offers luxury apartments, villas and garden homes. Its appeal is set to broaden: the development of The Pointe and Nakheel Mall will offer consumers 5.9 million square feet of entertainment, dining and retail destinations.

brought this esteemed area up a notch. Combined with the lure of some of LA’s best private schools and nearby beachside, this may become the new hotspot for budding property investors. Here, a 10,000 squarefoot house on a desirable street may sell for a modest $20 million—compared with $30 million for a comparable property in Bel Air.

DOWNTOWN, MIAMI

CBD, CAPE TOWN

Miami is generally proving to be one of America’s fastest developing cities. With an exciting luxury residential project in the pipeline—the Miami World Center— downtown is increasingly becoming the spot to keep an eye on. The venture will see over 500 new residences built alongside vast office and retail spaces. Meanwhile, access to the Brightline intercity rail system will enable better, more efficient transport links.

Known as the core of business ventures, Cape Town’s Central Business District is now also fast becoming a desirable residential hotspot. The area, which used to be dominated by imposing highrise office blocks, is now changing for the better. Injection of new capital and innovative ideas geared towards attracting new property buyers are changing the atmosphere and the skyline. In this area, potential investors will find world-class restaurants, breath-taking views of Cape Town Harbor and Table Mountain and pioneering initiatives like ‘First Thursday’, when galleries and museums remain open until late.

BRENTWOOD, LOS ANGELES It’s no secret that Brentwood is home to an affluent crowd, but a recent influx of restaurants and top boutiques have

www.artsandcollections.com

AC15A_Luxury Property.Rev1.indd 79

ST LEONARDS, SYDNEY With its population estimated to double by 2030, St Leonards stands out as a key area for market growth. $6 billion is to be spent on improving the region’s infrastructure, supplying the neighbourhood with a new metro station and approximately 3,700 apartments. This mammoth project will transform the suburb from an industrial district into a zone with mixed-use facilities, including a world-class hospital.

SANT’AMBROGIO, MILAN This luxurious neighbourhood, which is at the heart of ancient Milan, has long been favoured by high net worth Italians. Packed with ateliers, period buildings, art studios and elegant boutiques, this residential area has a lot to offer its inhabitants and prospective investors. Plans are in place for a new metro line connecting this prestigious area to the city’s Linate Airport. When completed in 2022, this will further attract the attention of investors and second home buyers. •

COLLECTIONS 79

02/05/2018 15:32

Luxury Living in Washington D.C. 3030 Chain Bridge Road NW, Washington DC, US This five part regency styled stucco home is a collaboration between Jones Boer Architects, Banks Development, and Arentz Landscape Architects. Modeled after early 18th century English precedents by such renowned architects as Sir John Nash, this new 13, 500 sf house presents itself as a careful study in symmetry, balance and proportion. Offered at $19,950,000 (USD) Marc Fleisher | m +1 202 438 4880

C O N T I N U E E X P L O R I N G O U R E X T R A O R D I N A R Y P R O P E R T I E S AT T T R S I R . C O M

TTR Sothebyâ&#x20AC;&#x2122;s International Realty 1.indd 2

24/04/2018 09:49

Wardman Tower - 2660 Connecticut Avenue NW, Washington DC, US Set along Washington D.C.’s iconic Connecticut Avenue, Wardman Tower offers breathtaking views of the nation’s capital and a rare, private setting for contemporary urban living. These extraordinary new residences define the highest levels of craftsmanship, modern amenities and unsurpassed services. Residences starting at $2,495,000 (USD) Christie-Anne Weiss | m +1 202 256 0105

Christopher Ritzert | m +1 202 256 9241

©2018 Sotheby’s International Realty Affiliates LLC. All Rights Reserved. Sotheby’s International Realty® is a licensed trademark to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned And Operated. SIR1

TTR Sotheby’s International Realty 1.indd 3

24/04/2018 09:49

Luxury Living in Washington D.C. Villa Firenze - 1105 Waverly Way McLean, Virginia, United States Inspired by the sun-drenched villas of Europe, the architecture and timeless design bring together the best traditions of classical architecture - with a modern perspective. With a total of seven bedrooms, six full baths, three half baths, and a host of amenities and features found in the worldâ&#x20AC;&#x2122;s finest residences, Villa Firenze is a rare opportunity for a most discerning family. Offered at $4,795,000 (USD) Penny Yerks | m+1 703 760 0744 Matthew Allen | +1 202 256 6819

C O N T I N U E E X P L O R I N G O U R E X T R A O R D I N A R Y P R O P E R T I E S AT T T R S I R . C O M

TTR Sothebyâ&#x20AC;&#x2122;s International Realty 2.indd 2

24/04/2018 09:50

Château de Lune - 300 River Bend Road, Great Falls, Virginia, United States Inspired by the finest traditions of European architecture and design, Château de Lune is a sublime 16,800 square foot private mansion with 6,000 square feet of meticulously landscaped outdoor living space. Ideally located just outside of Washington, DC in prestigious Great Falls, Virginia the chateau is prominently positioned within the exclusive enclave of Le Reve, the finest luxury community to be developed in decades. Offered at $6,981,000 (USD) Daniel Heider | m +1 703 785 7820

TTR Sotheby’s International Realty 2.indd 3

24/04/2018 09:50

MONTRES CORUM SARL.indd 1

14/03/2018 09:05