Strauss & co - 2013 Review

As South Africa’s leading auction house of fine and decorative arts, our goal is to offer for sale at auction high quality, unique and fresh to the market pieces at responsible estimates and with impeccable provenance. Our sustained commitment to provide our clients, both buyers and sellers, with the best possible service is of paramount importance and we are grateful to have been rewarded by their continued support. 2013 has been a busy and proactive year. Between our live auctions, our new online- only auctions and the numerous fundraising events in which we have been involved, we have processed well over 3000 lots. Bringing our online auction platform to fruition was an intense undertaking, but it was well worth it and the teething problems we experienced are currently being addressed. We are now focused on sourcing artworks for our 2014 auctions, the first of which will be in March. We are well into our fifth year of operation and the Strauss & Co journey has been interesting, challenging and most rewarding. Our sales have grown in size, our departments have strengthened and our team of hard-working professionals, headed by Stephan Welz, continues to achieve results of which we are justifiably proud. Packed salerooms characterise our auctions, and 2013 was no exception. We are encouraged by our turnover of R183 million for the year, being the second highest since we opened and showing an increase of 19,3% compared to 2012. The overall sell-through rate, Chairman’s report unique to Strauss & Co, stands at 82%. Despite the weak rand and other negative external influences, Strauss & Co has maintained its major share in the South African art market. Records New world records were achieved this year for celebrated artists Wolf Kibel, Gwelo Goodman, Jane Alexander and Penny Siopis. Wolf Kibel’s relatively unknown Houses with Red Roofs went through the proverbial roof by more than doubling the previous auction record for his Self Portrait which was set by Strauss & Co in 2009. R668 400 was paid for a pastel drawing by Penny Siopis, titled Imaging , which realised 300 times its presale estimate! Gwelo Goodman’s impressionistic gem Dawn on Table Mountain also set a new record for the artist. Landmark moment for contemporary art History was made in November when Jane Alexander’s important sculpture, Untitled , sold for an impressive R5,5 million setting a new record for a South African sculpture, a record for contemporary art in South Africa and a record for Jane Alexander. It soared above its presale estimate of R2-3 million as three buyers bid resolutely against each other until it was finally knocked down. The result is double the record for a South African sculpture previously held by Anton van Wouw, whose Bad News proved to be good news when it sold for R2,2million in 2010 at Strauss & Co. Rapturous applause ensued celebrating this landmark 6