The First Art Newspaper on the Net   Established in 1996 United States Friday, February 23, 2018

Abbey House Sets Out to Conquer World Markets; will Open Four Branches
Agata Kleczkowska, Untitled, 2010, 140 X 180. Photo: Courtesy Abbey House S.A.

POLAND.- In a month’s time it is going to open a gallery in Berlin, and soon afterwards in Los Angeles, London and Dubai. Abbey House SA operates in the very niche market of works of art, currently estimated at 300 million zlotys. In a few years’ time, however, it may grow up to 6 billion zlotys. The total figures related to sales of paintings in Q1 2011 in Poland raise optimism. Works of art worth over 10 million zlotys have been sold, which makes it possible to predict a year-end result of 40–50 million zlotys, i.e. 40 per cent higher than last year.

Abbey House SA strategy
The strategy of Abbey House SA consists in the close collaboration with a group of selected artists with which the company signs agreements for several years. The company promotes the artists and their work and earns money selling it. Only one painting is put up for sale each month, however, while the others remain in the Abbey House safe and their value grows. The company’s operation is based on a model that is innovative from the point of view of the Polish market, i.e. the combination of an auction house and a gallery. Abbey House plans to participate in auctions organised jointly with the most prestigious auction houses in the world, such as Sotheby’s, Christie’s and Phillip de Purry & Co.

Financial results of Abbey House SA
The company currently derives its revenues primarily from the sale of paintings in auctions. In 2010 the company achieved a net result of 1.5 times the net profit. In 2011 the company’s forecasts assume that sales of paintings will bring over 2 million zlotys. This is confirmed by the results for Q1 2011 in the amount of 1,059,000 zlotys, much higher than the forecasts presented in 2010.

Outlooks for the future
The outlooks for the coming months and years are good for the art market. After an adjustment, the market continues to recover and is on a good way to achieve growth in the 2010–2013 period. In the first six months of 2010, the total price obtained for the ten most expensive works in auctions held by Christie’s exceeded 400 million US dollars. It is estimated that 80 to 90 per cent of growth of the entire market over the next three years will be generated by developing markets.

Today's News

July 18, 2011

Egypt's Iconic Antiquities Chief, Zahi Hawass, Fired; Replaced by Professor in Restoration

Pop and Punk Drawings by German Artist Marc Brandenburg at Hamburger Kunsthalle

Pinacotheque de Paris Announces Alberto Giacometti and the Etruscans Exhibition

Natural History Museum of Los Angeles County Opens New Dinosaur Hall

The Morgan Presents a Spectacular Installation by Xu Bing: The Living Word

Cheekwood Botanical Garden & Museum of Art Presents "Drawn to Nature"

Miami Art Museum Presents Brazilian Artist Rivane Neuenschwander's First Mid-Career Survey

Billionaire Ron Burkle Buys Architect Frank Lloyd Wright's Landmark Ennis House

Sticky Fingers: Photographs from the Lost Session by Peter Webb on View at Snap Galleries     

Recently Discovered Old Master "St. Joseph and the Infant Jesus" at Auction in New Orleans

Leading Indian Modernists at Saffronart's 24-Hour Auction '99 Modern Paperworks'

The Only Way is Londinium, Roman London is Revealed with Augmented Reality in New App

Abbey House Sets Out to Conquer World Markets; will Open Four Branches

Pennsylvania Academy of the Fine Arts to Mount Definitive Exhibition on Preeminent African-American Artist

Heather James Fine Art Announces the Exclusive Representation of the Estate of Earl Cunningham

David Zwirner Announces Second Annual Summer Pop-Up Bookstore

Pre-Columbian Gold and Jade Jewelry to Be Displayed at the Fabergé Museum in Germany

DePaul Art Museum's New Home to Open to the Public with Debut of "Re: Chicago" Exhibition

San Jose Museum of Art Presents "Ordinary Folks" by Photographer Bill Owens

Exhibition Covers the Phenomenon of Clothing and Fashion in Zagreb from 1945 to 1960

Newark Museum Receives $1 Million Grant from the Mellon Foundation to Support Major African Art Initiative

Company Organizes Murder-Mystery Scavenger Hunt at the Metropolitan Museum of Art

Exhibition Explores Mid-Columbia Indian Life between 1900 and the Late 1950s

Under the Radar is Lyons Wier Gallery's Second Group Exhibition of the Summer Season

3rd Edition of PHOTOQUAI Biennial Announced by Musée du quai Branly in Paris

Most Popular Last Seven Days

1.- The Morgan explores the Medieval world's fascinating approach to the passage of time

2.- Experts discover hidden ancient Maya structures in Guatemala

3.- Egyptian archaeologists unveil tomb of Old Kingdom priestess Hetpet

4.- The Speed Art Museum and Italian Ministry reach loan agreement on ancient calyx-krater

5.- Major exhibition features artistic masterpieces from the glorious Church of the Gesù

6.- From Beowulf to Chaucer, the British Library makes 1,000 years of rich literary history freely available online

7.- Truck damages Peru's ancient Nazca lines

8.- Trish Duebber is new Coordinator of Youth Programs at Boca Raton Museum Art School

9.- Exhibition examines the way art, like language, was used to articulate a rhetoric of exclusion

10.- The Dallas Museum of Art announces gift of three major European works

Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .


Ignacio Villarreal
Editor & Publisher:Jose Villarreal - Consultant: Ignacio Villarreal Jr.
Art Director: Juan José Sepúlveda Ramírez

Royalville Communications, Inc
Founder's Site. The most varied versions
of this beautiful prayer.
to a Mexican poet.

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site
Tell a Friend
Dear User, please complete the form below in order to recommend the Artdaily newsletter to someone you know.
Please complete all fields marked *.
Sending Mail
Sending Successful