Perrotin Is Launching a Secondary-Market Business in Paris to Offer Collectors a Bespoke ‘Alternative to Auction Houses’
The venture will be housed in a townhouse near the Grand Palais and Sotheby's and Christie's salesrooms.
Emmanuel Perrotin, who runs galleries in Paris, Hong Kong, New York, Seoul, Tokyo, and Shanghai, is expanding yet again by opening a new standalone business selling art on the secondary market.
The dealer has partnered with Tom-David Bastok and Dylan Lessel to launch Perrotin Secondary Market (or Perrotin Second Marché), which is taking over a five-story townhouse on Paris’s Avenue Matignon, near the Grand Palais and Christie’s and Sotheby’s. After developing the project together over the past several months, the opening is planned for early 2021.
“The global situation felt very much like a call to action,” Perrotin told Artnet News. “The worse the times are, the more resilient and bold you must be. Perrotin secondary market will offer an alternative to auction houses, with bespoke services, inside a beautiful Parisian townhouse, and with a fantastic, passionate team.”
The business will both buy and consign works of art and commission fees “will be consistent with the standards of the secondary market,” Bastok said (which could be around 10 percent of the overall price).
“The idea is to adapt our strategy for each individual work as it will have its own unique needs and requirements,” Bastok said, while “remaining agile and compelling in a fluctuating market.”
The business will also provide advisory services to collectors. “We want to cover the full spectrum: source, evaluate, purchase and sell,” Lessel said. “However, we are also excited to work in collaboration with other galleries and sellers to bring the best solutions to our clients. This is a time for synergy and cooperation with our colleagues; we believe this is the future of the art market.”
Lessel began his career in 2010 at Kamel Mennour gallery, where he served as director until 2018.
Bastok founded My Art Invest, one of the first platforms to offer co-ownership of art options, in 2010. He also privately represented the estate of artist Georges Mathieu before entrusting it jointly to Perrotin and Nahmad Contemporary galleries.
“We share experience, a network, energy, and values to make a secondary venture a success,” Perrotin said of the partnership. “It’s mutually beneficial as well, especially for me to partner with two young men.”
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