Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Auctioneers under the hammer

Lucy Reid
Saturday 01 August 1998 23:02 BST
Comments

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

EVER since the reign of Louis XIV, just a few hundred public notaries responsible to the French Ministry of Justice have retained the right to cry "Ajuge! Vendu!" - "going, going, gone" - in France. Now, finally, that may all be about to end.

The French government is about to adopt a reform which will end the monopoly of French auctioneers over the national market.

The bill, which brings France in line with European legislation, goes to parliament in the autumn, and is designed to "give the French art market a boost". Equally, it will open the way for commercial firms to hold their own auctions in France.

Unsurprisingly, the French auctioneers have remained stuck in their traditional rut, saying that the new law will "clip our wings just as we are starting to restructure, invest and confront the multinationals in the art market".

One of their main causes for concern is the proposed compensation package. The President of the National Chamber of Auctioneers, Gerard Champin, has declared that the suggested sum of pounds 45m "does not even cover the profession's debt", which he says runs to more than pounds 50m.

The supremos in the international business, Christie's and Sotheby's, have already set up their headquarters in Paris, without waiting for a parliamentary by-your-leave.

It was the intervention of Laure de Beauvau-Craon, the aristocratic director of Sotheby's in France, which set the debate rolling.

In 1991 she requested permission from the justice ministry to hold a sale in Paris of items from the Paris villa of the Duke and Duchess of Windsor, which were being sold by Mohamed al-Fayed. The argument went to Brussels and France was told to come into line with European legislation. The Windsor sale eventually took place in New York at the beginning of this year.

The Sotheby's and Christie's sales will undoubtedly attract important foreign collectors to Paris. But the auctioneers are categorical that without a reduction of VAT levied on imports from non-EU countries, the French market could find itself in some very serious trouble.

Mr Champin fears that if the law goes through in its present form, France could be "permanently marginalised".

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in