Strauss & co - Review 2024

13 CHAIRPERSON’S REPORT 2024 12 CHAIRPERSON’S REPORT 2024 Chairperson’s Report 2024 I am pleased to present this Chairperson’s Report for the trad- ing year January to December 2024. The report provides an overview of Strauss & Co’s sales performance in 2024. It further highlights important results and trends across Strauss & Co’s various departments. The report also discusses noteworthy operational innovations. 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 2009, our founding year, the company hosted four auctions. In 2024 Strauss & Co successfully presented 65 auctions, generating R388m in revenue from 6 745 lots sold. The lot sell- through was a credible 70.8%. The revenue excluding the 10 charity auctions, from which Strauss & Co does not derive a profit, totals R376,1m from 6 465 lots sold. Ten artworks produced between 1930 and 1974 netted the largest individual sums achieved at auction with Strauss & Co in 2024. Irma Stern topped the rankings when The Smoker (1945), a portrait from the artist’s prized Zanzibar period, fetched R17.2m / $952 004 in March. The importance of such high-value sales is discussed in this report. Our overall sales performance for 2024 ensured that Strauss & Co maintained its long-held position as the leading art auction house in Africa. We achieved this proud position through vari- ous strategic interventions, notably by expanding our offering. We broadened the lists of artists, makers and producers offered at auction. We also significantly expanded the range of cate- gory collectables under offer, for example, presenting specialist auctions of brandy, ceramics, fibre art, precious stones and photography, often for the first time in the company’s history. These curatorial initiatives were complemented by opera- tional innovations. Responding to client needs, we significantly grew our private sales in 2024. We also introduced permanent client liaisons in the Garden Route, KwaZulu-Natal and theWine- lands, as well as an online retail opportunity known as Drop Shop . These initiatives increased the buying and selling locations and platforms offered by Strauss & Co. We also devoted significant capital and energy to ramping up our international sales, marketing and educational initiatives. Our international visibility is the highest it has ever been, particularly after we presented two exhibitions of African Art in London. To be a competitive player internationally requires local- ised expertise. We established an Advisory Board to augment and guide our international strategy. It is composed of four respected industry professionals – Millard Arnold, Heba El Kayal, Liesl Fichardt and Greg Maloka – whose role it is to provide stra- tegic intelligence to Strauss & Co on art and auction related matters, as well as to promote our brand. We are honoured and delighted to have them on board and have already benefited significantly from their contributions. In summary, 2024 was a transitionary year for Strauss & Co. We bid a sad farewell to our founding board member, Conrad Strauss, whose name our company proudly bears. Confident in our solid foundation, we are now exploring new horizons Marc Chagall  La Fenêtre à Paris (The Window in Paris) Sold R8 006 250 / $455 203 22 october , the international sale