Private sales are finding increasing favour with collectors and Sotheby’s has decided to develop this area of its contemporary art department with the nomination of a financial specialist to head Private Sales. David Schrader previously worked on Wall Street for 20 years, notably with JP Morgan. He will be responsible for Sotheby’s Private Sales for Contemporary Art, New York.

The financier is no stranger to the art world, having started his own (sizeable) collection of modern and contemporary works in the late-1990s. His fetish artists include Sol Lewitt, Gerhard Richter, Yayoi Kusama, and Andy Warhol. Sotheby’s issued a statement saying that the company hopes he will, “bring his perspective and acumen as a sophisticated collector”. Amy Cappellazzo praised his ability to create an “enviable” collection, saying, “Over a 20-year period, he systematically refined his collection through thoughtful acquisitions and sales, gaining the respect of prominent dealers and collectors.”  She explained that his focus on research and knowledge of art networks would allow him to adapt to “technological developments” and fit “seamlessly” into Sotheby’s “ethos”.

In engaging a financial figure, Sotheby’s is changing the habits of a market that usually worked as a closed system. The company hope to benefit from his business acumen and, as noted by Bloomberg, his Wall Street contacts, which include several big collectors.

Related Posts
sotheby's double contemporary

Sotheby’s Doubles its 2016 Contemporary Art Takings

Fears linked to Brexit seem to have receded and Sotheby’s continued the spirited start in contemporary art made by Christie’s

TEFAF Maastricht 2017 TEFAF Art

Private Sales Booming According to the TEFAF Art Market Report

A week after the Artprice report (see China Once Again Leads the Art Market), it was the turn of the

Gustav Klimt

A landscape by Klimt fetches 48 million pounds at Sotheby’s

The day after the sale at Christie’s (see A Record for Magritte at Christie’s), Sotheby’s held its Impressionist and Modern

Sotheby's Bowie maneker 2016

Sotheby’s financial results for the fourth quarter 2016

A few weeks after Christie’s (see Christie’s Announces 16% Drop in Sales in 2016), it was the turn of Sotheby’s

Harry Dalmeny

Harry Dalmeny Appointed Chairman of Sotheby’s UK

Sotheby’s has been keeping the media busy this year. After recruiting David Schrader to manage private sales, CEO Tad Smith

Pin It on Pinterest