Coronavirus News Asia

Covid-19 woes aside, art is still art

While the coronavirus pandemic wreaks havoc on most industries around the world, there are some sectors that have adapted to the new Covid-19 world by making use of technology, The Global Times reports.

Take for example, art auction houses, large and small — investors still seek safe havens for their investments, so the demand has not gone away.

So what to do about this? Clearly, live auctions are out of the question.

While major London-based Sotheby’s has closed its London, Hong Kong, Dubai, Geneva, Milan, Paris and New York offices, throwing their marquee May auctions into doubt, rival Christie’s said it was “working swiftly” to reschedule postponed auctions.

“It’s a threat to all of us, but I do think we’ll get through it,” Giles Peppiatt, director for modern and contemporary African art at fellow London-based auction giant Bonhams, told Agence France Presse.

Although no longer able to hold live auctions, the pandemic has accelerated the move to online sales, the report said.

“We thank our stars that we have online bidding,” said Peppiatt.

“When online sales first started, all the auctioneers thought it would suck the life out of the auctions. But it’s amazing that the thing we feared most at the time is probably going to be our saviour.”

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