Editor’s Note
While traditional auction categories face shifting tastes, the enduring appeal of luxury collectibles—from fine jewelry to handbags—continues to redefine the art market. We speak with Franck Baille of the Hôtel des Ventes de Monte-Carlo about the trends driving this vibrant sector.
A Major Player in the Principality’s Art Market
Inaugurated in 2012, the Hôtel des Ventes de Monte-Carlo has established itself as a major player in the Principality’s art market. While some sectors, such as antique furniture or silverware, struggle to appeal to new generations, others continue to thrive. Jewelry, collectible watches, and luxury handbags are recording remarkable results. An interview with Franck Baille, President of the Hôtel des Ventes de Monte-Carlo.
Thriving Specialties: Jewelry and Watches
Among the fields you cover at the Hôtel des Ventes Monte-Carlo (jewelry, watches, furniture, contemporary art), do any seem particularly promising today?
“Our great specialty is jewelry. This success is largely linked to the long experience of Chantal Beauvois, who worked for forty years in this field. She rose to the highest level, notably alongside Jacques Tajan. All this has allowed us to build a very strong network and relational capital. Today, she is undoubtedly among the best in her profession. Watches are also gaining momentum. We have, for example, just received a set of Patek Philippe watches from a Marseille estate. One of them is estimated between 400,000 and 600,000 euros, and others will follow.”
Declining Sectors: Furniture, Silverware, and Old Books
Some specialties, on the other hand, seem to be suffering a bit more. You mentioned silverware, old books, and also furniture. What is the exact situation?
“Regarding furniture, it is true that sales have seriously declined. This type of object has seen a clear decline in recent years, notably because the lifestyle of the clientele has profoundly changed. One in two families is a blended family. People no longer buy with the aim of passing things on to their children. All this has profoundly changed the relationship with furniture, which has suffered greatly, except, of course, for truly exceptional pieces. For old books, there can still be beautiful sales. For example, we recently sold the Nuremberg Chronicle, a very important work from Italy – undoubtedly the most emblematic of the 16th century. It sold for 80,000 euros. But, overall, like silverware or stamps, these are specialties that appeal to an aging clientele, which has not been renewed.”
The Explosion of Online Sales and Its Impact
Since the pandemic, online sales have truly exploded. Has this changed your way of working?
“Yes, completely. The modus operandi has really evolved. At the time, when I organized sales in Camargue for example, there were 200 people in the room. Today, there are on average about thirty… The vast majority of transactions are now done remotely.”
And doesn’t this pose a problem for buyers to no longer see the objects physically?
“Not really. It’s actually something we regret. It’s quite frustrating for us, because direct contact with clients allows us to transmit our knowledge, to share what we know. Today, clients come less physically, but they ask for a huge amount of information beforehand. Before each sale, three or four people work for a week to ten days to write very detailed condition reports: the state of the table, the underside, the sides, the top… The slightest little snag must be reported. It has become extremely time-consuming.”
Rare Archaeology Sales and the Booming Luxury Handbag Market
On June 26th last, HVMC organized a sale dedicated to archaeology. Has this type of sale become rare?
“Yes, we are one of the last auction houses to still offer sales of this type. It is a very sensitive field, requiring extreme vigilance. We are particularly attentive to provenances, which must be perfectly established. All objects presented have been carefully appraised.”
Does the luxury handbag collection still generate as much interest on the market?
“Yes, the market is currently very dynamic and even saturated. Many bags are for sale currently. This sector is still very promising. For example, we recently made a beautiful sale: a Faubourg bag sold for 170,000 euros. And it’s not over. We are expecting 40 additional bags, including a collection from a rather emblematic family in the spirits sector.”