One question after last week’s announcement of Simon de Pury’s new single-owner sale venture is whether the new operation, De Pury, which is backed by European venture capitalist Klaus Hommels also has more extensive ties to the Stanley Gibbon empire through Mallet, the antiques dealer that is partnering with De Pury to show works:
De Pury’s first sale will include some 400 pieces from the Lambert Art Collection, of the eponymous Belgian family that has been collecting for more than a century. Baroness Lambert oversees it today. The auction will include contemporary art alongside furniture dating back hundreds of years. The sale is titled “A Visual Odyssey: Selections from LAC (the Lambert Art Collection),” and a preview will be shown with designer Jacques Grange handling the exhibition design at Mallett’s London headquarters at Ely House. Bidding takes place on Monday, October 12, “in person in London and online, including tablet and mobile,” with video providing a high-quality stream of the action, according to a news release. The platform will eschew print catalogues for digital offerings.
De Pury’s financial angle seems to be to gain market share by undercutting competitors on lots under $2 million. The platform, which is backed by investor Klaus Hommels, will charge a 15 percent buyer’s premium on the first $2 million of a hammer price, lower than the 25 percent that Christie’s and Sotheby’s now charge on the first $100,000 and the 20 percent that is marked up to the $2 million figure. Above that threshold, de Pury’s charge will be 12 percent, which is in line with competitors.
Simon de Pury on His New Digital Auction Platform (ARTnews)