LONDON.- de PURY
presents a new series of curated auctions that will be a game changing event from a market perspective. The inaugural auction, WOMEN- Art in Times of Chaos, will present artworks by contemporary women artists that have been created over the last two and a half years. An exhibition of the artworks will run from August 5 on de-PURY.com, with the auction taking place on August 25. For the first time it will be the artists themselves, and the galleries who represent them, who will receive the proceeds from an auction of works that appear for the first time on the market. The curated auction will differentiate itself from any other contemporary auctions in the following ways:
100% of the Hammer Price will go to the artist and the gallery that represents them, according to the percentage agreement they have between themselves.
18% Buyer's Premium, charged on top of the hammer price, will be payable by the purchasers.
3% (of the Hammer Price) will be deducted from the Buyers Premium and paid out to UN Women, the United Nations organisation that is the largest womens charity in the world and delivers programmes, policies and standards that uphold women's human rights. Each subsequent curated auction will donate 3% in the same way to a different charity that will be identified in relation to the theme of the sale.
Buyers will commit to not reselling the artwork for a period of 3 years.
The identity of the successful buyers as well as the identities of the under-bidders for each work will be shared with the artist and the gallery representing them - thereby providing them crucial market data, which they usually do not have access to when a work of theirs appears at auction.
There will be no printed catalogue nor any printed materials, making the initiative more environmentally friendly.
The artworks will travel only once. The works do not need to leave the artists studio or storage until they are sold and paid for, as it will be a virtual exhibition and auction again making the initiative more environmentally friendly.
The curated auction will be hosted online by an avatar of Simon de Pury conducting the auction live.
For the inaugural virtual exhibition and auction, de PURY will present works by contemporary women artists, including a.o. Chloe Wise, Claudia Comte,Minjung Kim, Alison Zuckerman, Genieve Figgis. Each artist was invited to participate by offering an artwork of their choice that has been created no earlier than 2019. In doing so, the exhibition spotlights and celebrates the work of women artists that have been created during the recent turbulent times.
Simon de Pury comments: Whilst compiling a list of the contemporary artists I most admire today, I realized that the vast majority of them are women. In recent years the art market and the art world, more generally, have finally begun to correct the chronic under appreciation of the seminal contributions made by women artists. The red-hot demand for young women artists at auction is precisely the motivation behind this new initiative, WOMEN Art in Times Of Chaos. These newly set record prices have benefitted the collectors who had been lucky enough to buy those works on the primary market and are now cashing in. Our approach with this new series is to cut out this speculation and to have the artists, as well as the dealers who champion their work, be the main financial beneficiaries.