Strauss & co - Review 2024

10 CHAIRPERSON’S REPORT 2024 Vladimir Tretchikoff  Balinese Girl Sold R5 625 000 / $324 842 AFRICAN AUCTION RECORD 17 september , modern and contemporary art 11 CHAIRPERSON’S REPORT 2024 Executive Summary Statement Frank Kilbourn, Chairperson, Strauss & Co ‘Over the past 15 years Strauss & Co has matured into a full-service auction house handling modern and contemporary art, fine wine and spirits, decorative arts and jewellery. In 2024 Strauss & Co successfully presented 65 auctions, generating R388m in revenue from 6 745 lots sold. While our wine department has experienced significant growth, adding volume to our sales, modern and contemporary art remains our most important single source of revenue. Our overall sales performance for 2024 ensured that Strauss & Co maintained its long-held position as the leading art auction house in Africa. We are optimistic that our efforts in 2024 to broaden our offering and expand our geographic reach will yield further positive results into 2025.’ Key takeaways from 2024 at Strauss & Co ❏  Strauss & Co achieved sales of R388m / $21.6m from 6 745 lots sold at 65 auctions. The total excluding 10 charity auc- tions is R376,1m from 6 465 lots sold. The turnover increased by 3,4% over 2023. ❏  Key factors contributing to growth were broadening of lists of artists, makers and producers offered at auction, and the introduction of new categories of collectables. Strauss & Co hosted first standalone auctions of brandy, fibre art, pre- cious stones and photography in 2024. ❏  Art remains the main revenue stream. The ten top-earning artists sold at auction in 2024 collectively generated nearly half the company’s entire income. Strauss & Co earned R195.1m from 232 lots sold by Keith Alexander, Marc Chagall, William Kentridge, Maggie Laubser, Pablo Picasso, J H Pierneef, Alexis Preller, Gerard Sekoto, Irma Stern and Vladimir Tretchikoff in 2024. ❏  Flourishing wine department earned R31.9m from 2 252 lots sold at 11 auctions. ❏  Two thirds of all lots sold (77.8%) were traded digitally through Strauss & Co’s 40 timed-online auctions. Digital sales earned R83.8m from 5 258 lots sold. ❏  New buyers were up 21.6% over 2023. ❏  International buyers continue to grow and in 2024 repre- sented 1:5 of all successful sales (21.7%). ❏  Strauss & Co established an Advisory Board to consult and help guide its international growth. ❏  Private sales of high-value artworks netted R54.5m, or 14% of total revenue.