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The State of the Fine Art Market

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A Special Conversation Moderated by Rob Longsworth of Greenwich Wealth Management

There has always been an important interaction and relationship between art and luxury sectors.  The art market at its highest levels has become a significant luxury business and an important barometer of the luxury market.

 
By its nature, the fine art market is essentially supply-driven.  As noted in artist Andrea Fraser’s essay, “L’1% c’est moi”, about the economic relationship between art and luxury, only either the one percent or corporate art collectors can afford buying works of fine arts.  On the other hand, many luxury companies seek to collaborate with artists and to develop their own art collections in pursuit of innovation, uniqueness and brand distinction.
 
Increasingly global and celebrity-driven, the art market reported an estimated $64 billion in sales in 2015, down about seven percent from the previous year while the U.S. art market, the world’s largest and valued at $27.3 billion, continued to grow, according to TEFAF Art Market Report 2016.
 
Please join us for an important conversation about the state of the art market lead by three distinguished thought leaders.
 


Anne Dayton – Vice President, Sr. Director of Sales, Marketing, and Business Development of Collectrium
 
Anne Dayton offers 20 years of international sales and marketing experience, most recently from Christie’s. In her current role, Ms. Dayton is charged with developing new enterprise business initiatives in the financial services, estate planning, fine art, and luxury collectibles sectors.
 
Collectrium was founded in 2009 primarily as a collection management platform for fine art and luxury collectibles such as cars, watches, jewelry and wine. Collectrium was designed specifically for collectors, by a technology expert, and has earned the trust of thousands of clients worldwide. Leading the industry in innovation through agile development and partnering with best-in-class art service providers, Collectrium integrated its collection management tools with the database of auction results to enable users to benchmark the value of their collections and assess markets in one single experience. The Company was acquired by Christie’s in 2015 but continues to operate independently, with offices and clients in the Americas, Europe and Asia.
 
Since joining Christie’s New York almost a decade ago, Ms. Dayton has partnered with different specialist departments to define and execute marketing strategy. In addition to holding posts at Christie’s London and Hong Kong offices, she oversaw the marketing strategy for the Ellsworth Collection and for the Asian art business in the EU and Americas. Prior to joining Christie’s, she held senior roles in several Fortune 500 pharmaceutical companies, achieving profitability targets and managing sales and marketing teams.
 
Dayton graduated from Emory University and holds master’s degrees in finance and business from Thunderbird University and ESADE in Barcelona, Spain, respectively. She has lived and worked in multiple countries across Asia, Europe, and Latin America, and is fluent in Spanish.
 

Domenico De Sole - Chairman of the Board of Sotheby’s and Chairman of Tom Ford International
 
Domenico De Sole has been Chairman of the Board of Sotheby’s since 2015.  Mr. De Sole also serves as Chairman of Tom Ford International.

From 1995 to 2004, Mr. De Sole was President and Chief Executive Officer of Gucci Group, N.V., and Chairman of the Group’s Management Board.  Mr. De Sole joined Gucci in 1984, as Chief Executive Officer of Gucci America.  He remained in New York until 1994, when he moved to Italy as the Group’s Chief Operating Officer.  He was appointed President and CEO the following year.
 
Mr. De Sole played a leading role in reestablishing the exclusivity and profitability of the Gucci brand.  At the end of 1995, Mr. De Sole successfully led Gucci Group, N.V.’s listing on the New York and Amsterdam stock exchanges.  In 1997, Mr. De Sole led the purchase of Gucci Timepieces taking direct control of the company’s most important license.  In 1999, he successfully fought a hostile takeover bid, enhancing shareholder value.  Towards the end of 1999, Gucci completed the acquisition of Yves Saint Laurent, Sanofi Beaute and Sergio Rossi.  In 2000, Gucci acquired Boucheron, Alexander McQueen and Bedat+Co. and in 2001, Bottega Veneta, Stella McCarthy and Balenciaga.  At the end of April 2004, PPR, the Group’s largest shareholder, completed the purchase of all outstanding common shares as part of a transaction that valued Gucci at more than US $10 billion.
 
Mr. De Sole was born in Rome.  After receiving his law degree, he moved to the United States in 1970, where he earned a Master of Laws from Harvard University and became a partner in the Washington firm of Patton, Boggs & Blow.
 
In October 2001, The National Italian American Foundation (NIAF) honored Mr. De Sole with the “Special Achievement Award in Fashion and Industry” at the Foundation’s 26thannual gala dinner held in Washington.
 
In addition to his other positions, Mr. De Sole is a member of the Board of Directors of GAP, Ermenegildo Zegna and Newell Brands as well as a Member of the Advisory Board of Harvard Law School.
 
 
Elizabeth Haynie Wainstein  - Founder and CEO of The Potomack Company
 
Ms.Wainstein started her auction career on the business side of Sotheby’s and became a specialist at Christie’s, New York. After moving to the Washington, D.C. area, she opened a fine art and antiques gallery while serving as director of George Washington University’s Appraisal Studies.
 
Today, The Potomack Company is celebrating ten years as a leading Washington, D.C. auction house noted for its passion for excellence and professionalism. Based in historic Old Town Alexandria, Virginia, The Potomack Company is strategically positioned to serve an upscale international clientele of collectors, dealers, estates, historic institutions and museums.
 
The Potomack Company is driven by an impressive team of specialists with years of appraisal, art advisory and auction art market experience, including representatives in Greenwich, Connecticut and Baltimore, Maryland.  In addition to live auctions in its Old Town Alexandria gallery, The Potomack Company conducts a variety of online auctions.