Jewelery and watches to be dispersed, Artcurial accelerated the year with its prestige sales in the Principality. And the Parisian house is keen on its “historic position”, recalls Nicolas Orlowski, son of Chairman and CEO, “in the south of France and in particular in Monaco”. This is why it organizes a summer sale and a winter sale in Monte-Carlo every year. Two appointments which, in 2022, obtained stratospheric results for the group which signs there its best year in two decades of existence.
“This group is an interesting reflection of how the habits of customers are changing in luxury goods, crafts, real estate. Regarding the year 2022, there is a post-pandemic catch-up phenomenon that “There’s no denying. However, across all of our businesses, we achieved the high end of our most optimistic discounters with 1.6 billion in total sales across all of our areas,” emphasizes the boss of the group. Auctions were donated in 2022 by 28% to total 216.5 million euros in revenue. In Deauville, the sale of horses has totaled more than 200 million euros in transactions.
Developing a dynamic in the Principality
“Overall, the south of France and Monaco are very dynamic for our group, and remain more than a safe bet” This explains the group’s commitment in the Principality. In addition to the two annual sales sessions, Artcurial orchestrates the artistic journey of Monaco Sculptures, installing outdoor works each summer in Monte-Carlo and confirming it again in 2023. With other projects that could be added to the Monegasque calendar. “What we want is to develop this dynamic and create a regular presence throughout the year to support the Principality in its attractiveness.”.
A statement from the CEO of Artcurial which confirms: “We are not changing strategy, Monaco continues to be the basis of our auctions in the South. We are broadly extending this base, while radiating, as we already do, throughout the Côte d’Azur”. Today, all trades combined, more than 150 people are employed by the group in the Principality and in the PACA region.
Buyer and seller guide
The physical presence of customers – onlookers or buyers – at sales this week in the salons of the Hôtel Hermitage attests to two points. On the one hand, if in Paris the auction rooms are rather empty, with potential buyers favoring remote auctions, in the Principality the practice of discipline is still significant.
On the other hand, the second hand in the purchase of luxury products is still on the rise, and has become even more democratized in society.
“What we offer above all is the security of a large auction house”, agrees Nicolas Orlowski. “Our job is also to support sellers to adjust prices. Buyers today have access to information that didn’t exist 20 years ago. Price adjustment is paramount in all middleman trades. Some products have a rising rating, others are stagnating. It’s not always easy, but Artcurial continues to do this job the old-fashioned way. And that’s how it should be done, with auctioneers who defend the interests of sellers while explaining to them how to set the right price to give the deed of sale an appetite and a dynamic at auction. “.
Real estate: a year in good shape
Acquired by Artcurial in 2017, the real estate group John Taylor established in twenty-five countries made its best progress in 2022 on the Mediterranean coast. “The south of France and Monaco were, to our surprise, the most dynamic area for John Taylor in the world last year. This is where there has been the strongest increase in activity”, assures Nicolas Orlowski.
“Inventory problems”
If in 2020, the real estate dynamic was towards Switzerland at the end of confinement, the results recorded last year showed that the Côte d’Azur has taken the lead.
In figures: real estate activities recorded from Saint-Tropez to Monaco in 2022 are up 40% compared to 2021.”The year 2021 was special because still in the pandemic, but if we compare with 2019, we are still up 15%”. In this wake, the demand for rental of luxury goods for long periods “an exploded” in the sector, for customers wishing to settle there for two, three or four months.
In 2022, the John Taylor agency in Monaco once again ranks in the top 3 of the group’s agencies worldwide, in terms of turnover.
“Whether in Monaco, Saint-Tropez or throughout the hinterland, we deal with European and international customers who are looking for second homes, even main houses. For example, we have around fifty customers in Paris who sold their residence in the capital, for a much smaller property. And with the financial gain, are acquiring residences in the South”, continue the boss of Artcurial. So much so that the teams were confronted with “inventory issues” especially in the hinterland, where demand was greater than supply. “We sell so many properties that there is a very sharp rise in prices for a very large clientele and few properties. Not just mansions for billionaires. But also houses at 1 or 2 million euros, which is a lot of money”.
If Nicolas Orlowski confirms that the administrative authorities are today”extremely vigilant on the real estate trades” was right to have owned in France by Russian oligarchs, the absence of this clientele instead of Moscow has not – however – caused the business to fall.
“In our fields, we note that the absence of Russian customers has been extended to 100% by American customers, who are making a very strong comeback, at all levels, and creating momentum in sales of art, collections or houses in the south of France. It’s THE phenomenon of the year 2022. Americans feel strong, wealthy. We announced the death of the dollar, it’s not really the case”.
Managers of the former villa of Tapie in Saint-Tropez
It is a flagship property in the Gulf of Saint-Tropez, overlooking the Bay of Canebiers. La Mandala, a 500 square meter villa adored in the heart of a two-hectare park, has been owned by Bernard Tapie since 2012. The businessman disappeared in the fall of 2021, the house was auctioned by the Commercial Court of Liège because Bernard Tapie had acquired it through a company under Belgian law.
And it was the John Taylor agency in Saint-Tropez which accompanied the sale process for the Liège court – via a series of proposals made in an envelope – until the sale of the property, last June for an amount of 81.2 million euros. Amount paid by Tony Tamer, a New York businessman who put forward the most advantageous offer against another of his American compatriots.
Logically, the new owner is appointed to the Saint-Tropez teams of John Taylor, the management and management of his French residence. “We have signed a multi-year contract for a global mandate concerning all the maintenance of the property and the management of its teams”, confirms Nicolas Orlowski. “It is an activity that is similar to the para-hotel business, the Americans being accustomed to services. They don’t have time to take care of the stewardship and delegate it to us so that the property is operational whenever they decide to work there”.