The Market |
Recent shifts at several prominent galleries
July 22, 2009 | It's a far from sleepy summer in the antiques business, as a series of expansions, mergers, and, in one unfortunate case, essentially a bankruptcy shake and shape the field in both Europe and New York.
In London yesterday, stalwart Partridge Fine Art, founded in 1902, was placed under the control of administrators (the British equivalent of receivership) due to outstanding debts with its bankers and creditors. H
eadquartered in a 17-room townhouse on New Bond Street, and at one time antiques dealer to the Queen, Partridge's was one of the most influential and well-stocked antiques firms of the 20th century. In 2005, a controlling interest in the shop was sold by the Partridge family to porcelain dealer Mark Law in an unusual deal funded by a Christie's loan. (At the time, Mr. Law said, "It would not be good for the antiques market to see Partridge's go out of business.") Almost immediately, Mr. Law added a jewelry business and then signed up Princess Michael of Kent as a well-co…» More
The Market |
The End of an Era
July 1, 2009 | The Grande Dame of art fairs is, reluctantly, retiring. Organizers of the Grosvenor House Antiques Fair, held in London nearly every year without interruption since 1934, announced yesterday that it will close.
They cited problems with the event's longtime venue, the Grosvenor House Hotel, which last year was renovated and re-branded as a JW Marriott. But what really happened to end the prestigious event's 75-year-streak? Dealers, appraisers and collectors say a perfect storm of economic, demographic and real estate trends came together to finish the fair—at least in its current incarnation. (Some participants are already talking about creating a new alternative.) From the shifting definition of what's an antique to a backlash against huge-home McMansions to a change in what collectors expect from an event, experts say that the world that created Grosvenor House is as gone as the famous fair may soon be.
"I really think it's a shame, it's always been a highlight of the London season," says Konrad Bernheimer, owner of the paintings gallery Colnaghi-Bernheimer, long a stalwart and star of the Grosvenor House fair. Nonetheless, he pulled out after last year's event. The fair's problem was economic, he says. "It didn't make financial sense for the hotel," which could gather more income from the daily rental of its Great Hall in June than the fair was providing, so it charged dealers heavily. As a result, "it was far more expensive to exhibit at Grosvenor than Maastricht," he explains.
At its height of popularity, Grosvenor House, held in the glamorous great hall of its namesake London hotel, was a de rigeuer highlight of the London social season. Along with Wimbledon and Ascot, it drew thousands of wealthy Britons and Americans since the early years of the depression. By contrast, New York City's venerable Winter Antiques Show is about a half-century old, and rising rival Maastricht in the Netherlands, a more varied fair, only dates back to 1975. Both have a significant space advantage, as they can expand, while Grosvenor is limited by the hotel's restrictions. But Grosvenor long had the edge in glamour. The opening night was traditionally hosted by a member of the British royal family, and guests at its opening-night charity gala have included Annie Lennox, Elizabeth Hurley, Liza Minnelli and Sir Bob Geldof.
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Sitzmaschine, model #670, Designed by Josef Hoffmann (1870-1956), Manufactured by J.& J. Kohn, Austria, ca. 1905.Bent beech wood, steel; height 39
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