Strauss & co - Review 2021

Practicing Resilience in Fluid Times The second year of the Covid-19 pandemic confronted the entire world with renewed health and economic challenges as the novel coronavirus mutated. The year in review, 2021, was bookended by waves of the delta and omicron variants of the coronavirus. Drawing on important business lessons from 2020, Strauss & Co remained steadfast and resilient. Adaptation defined the company’s activities in 2021. Auction formats were fine-tuned. Systems and processes were upgraded. Strategic staff was hired. Client needs were always kept top of mind. Recognising its privileged position within the art ecosystem, Strauss & Co also redoubled its commitment to education and charitable initiatives. Strauss & Co’s drive to always improve and adapt, to be an engaged corporate citizen no matter the challenges, yielded positive reputational and financial results. In its twelfth year of business Strauss & Co hosted 28 sales, including a number of specialist sales that affirmed Strauss & Co’s position as a dynamic market leader for the promotion and sale of South African art in the secondary market globally. These sales cumulatively earned a total of R356 million in revenue. Strauss & Co handled over 8 500 lots, the largest volume ever traded in a single year by the company. As in previous years, the bulk of Strauss & Co’s turnover was derived from art sales. An established group of twentieth-century artists attracted the highest bids, notably JH Pierneef and Alexis Preller. These two Pretoria artists accounted for seven out of the ten highest value lots sold by Strauss & Co in 2021, with Sydney Kumalo, Irma Stern and Anton vanWouwmaking up the balance. Live applause once again greeted the sale of big-ticket lots as the company returned to limited in-person auctions and hospitality. It was immensely gratifying to see new and familiar clients attend curated previews and live sales. The defensive posture of 2020 has tentatively abated. Vaccines, an awareness of Covid-safe protocols and streamlined digital technologies, have enabled Strauss & Co to host its premium sales in a truly hybrid format, one in which interpersonal contact is possible and live international transacting effortless. This review surveys key trends in the trading year January to December 2021. The need for liquidity during the second year of the pandemic, coupled with the reorganisation of lifestyles and life aspirations, witnessed a large increase in trading volumes. Strauss & Co responded with innovative curatorial initiatives and significant investments in capacity. This review details these, as well as looks at important lot sales and noteworthy single- owner collections handled by Strauss & Co. Education and social responsibility are important facets of Strauss & Co’s business process, and also receive consideration. 11