Strauss & co - Review 2020

Chairperson’s Report 2020 was a year for the ages and presented challenges at every level of our operations. Despite the ravages of a global pandemic, Strauss & Co remained committed to its vision of being an innovator and leader in the sale of modern, post-war and contemporary art, decorative arts, jewellery and fine wine. A brisk schedule of auctions, including three hybrid sales held after the introduction of Covid-19 health regulations, saw the company successfully defend its turnover, grow the number of lots handled and vastly improve its geographical reach and new-client list. In a year marked by widespread social and economic turmoil, Strauss & Co achieved a combined turnover of R316.6 million. This sum is not far off the 2019 total of R319.4 million and represents a very credible result in the circumstances. The company grew its lot sell-through rate to 76% from 65% in the preceding year, and, very encouragingly, new buyers accounted for almost a third of all completed sales. I ascribe our successes to the amazing commitment of our staff, integrity and scalability of our digital infrastructure and – most importantly – the incredible support of our clients. When the reality of Covid-19 dawned on us inMarch 2020, Strauss & Co’s management team redirected its energies to developing new business protocols. Health and safety was paramount, but so too was ensuring the economic wellbeing of everyone involved in the auction trade. We operate in a very public sphere I ascribe our successes to the amazing commitment of our staff, integrity and scalability of our digital infrastructure and – most importantly – the incredible support of our clients. 4