Following in the Footsteps of Other Auction Houses, Sotheby’s Will Postpone its Marquee May Sales to June

Sotheby’s has announced that it
will postpone its May sales in New York until June, following
similar steps taken
last month by Christie’s and Phillips.

A new date for its anticipated
“gigaweek” auctions has not yet been announced. The other auction
houses’ events, which will combine their London and New York sales,
are expected to take place at the end of June. 

To fill the vacuum now left in
May, Sotheby’s will launch two new online day auctions: a
contemporary sale and an Impressionist and Modern art sale. Bidding
for both auctions will run May 4 through May 14. 

“Our new online day sales will
be anchored by the same top-quality, exciting selection of works by
sought-after artists of the 19th through the 21st centuries that
the market has come to expect from our day sale program,” says
Scott Niichel, head of the auction houses’s Impressionist and
Modern Art day sales in New York, in a statement. 

Niichel adds that the house is
“still actively—and responsibly—sourcing for these auctions, and
encourage collectors to start a dialogue with us about how we can
best meet their needs.”

The company has had success with
its online sales since it put its in-person auctions on hold. For
example, its sale of Banksy prints, which concluded March 26,
totaled $1.4 million—well exceeding the pre-sale estimate. And
yesterday, Sotheby’s first online-only auction of
Modern and contemporary Middle Eastern solidly met expectations
with a $2.6 million total. (Since January 1, the auction house’s online
sales have altogether earned more than $35 million.)

“During this unprecedented
moment when live auctions are not possible, collectors worldwide
have enthusiastically participated in our online sales program,
driving results that demonstrate the resilience of the global art
market,” says Nicole Schloss, co-head of Sotheby’s day auctions of
contemporary art in New York.

The pair of recently announced
May sales will also be accompanied by a new digital catalogue,
which will include video and interactive media.

Any further changes to its upcoming auction calendar will be
announced “approximately 30 days
prior to the existing sale date,” Sotheby’s says.

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Sotheby’s Will Postpone its Marquee May Sales to June appeared
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