Fashion auctions are gaining popularity?
On January 24, the YVES Saint Laurenta projects belonging to Catherine Deneuve, a designer's favorite client, was held in Paris. The actress decided to sell her extensive collection after she announced the sale of the house in Normandy. It was there – due to lack of space in a Parisian apartment – she kept a large part of her extensive collection of clothes and accessories. Nearly 129 YSL projects were auctioned at the Christie's auction house (the same number was put up for an online auction that lasts until the end of the month). Each model has been sold. Auction result? Round one million dollars. As much as 90% of the entire displayed collection has reached a value several times higher than the pre-auction assumptions.
Hits from YSL
The highest-auctioned outfit came from the collection haute couture prepared for the fall of 1977. (Russian collection). Chiffon blouse with a shawl and a taffeta skirt were sold for $ 59,745, ten times piercing the price assumed by the organizers.
Another of the auction "hits" was a decorative dress from the collection in the spring of 1969. Valued in the $ 3,400 – $ 5,700, it reached the price of $ 48,365. The velvet jacket, auctioned for $ 38,047 at the initial valuation within $ 900-1350, turned out to be a hit.
Bead creation sold for $ 48,365, source: WWD.com
The success of the auction may not be so big if it wasn't for the perfect "matching" in time to another great event – the week of shows haute couture. As you know, the most important guests of the "High fashion" shows are customers, or rather clients. A few group that can afford the most expensive creations of the world. It was to them that the Christie’s auction was directed. While a few could decide to buy, everyone could visit the pre -expiation exhibition. At least to enjoy your eyes ..
Part of the exhibition in Christie ’ s, source: Harpersbazaarabia.com
Not only Deneuve
Catherine Deneuve wardrobe auction is a loud, but not the only event of this type. A collection of dresses worn by Audrey Hepburn in her most famous films sold out on the trunk in 2009. at the Sotheby auction ’ s. Marilyn Monroe costumes appeared at auctions many times. The famous dress in which the star sang Kennedi's wishes was auctioned in 2016. for $ 4.8 million.
“ Kasowa ” Marilyn Monroe dress, source: Therollingstones.com
In a few weeks, another great action will start on the YOOX platform. This time, only online pearls from the wardrobe of Franki Sozzani, the editor -in -chief of the Italian edition of "Vogue", who died in 2016. for lung cancer. In this case, the campaign will be charity – income from the sale of clothes and accessories will receive the account of the Franki SOZZANI Foundation, which supports genetic research. Both projects were put up for sale pret-a-porter, what haute couture (in total 397 items), as well as accessories. The collection has been divided thematically and reflects the next stages in the life of the famous editor.
Miu Miu coat, which can be purchased for the YOOX platform, source: WWD.com
Fashion investment?
Or investing in fashion vintage, projects haute couture, or just clothes and accessories worn by "known and liked" can be a way to multiply the property? According to Darren Julien, managing the auction house Julien’s – Definitely yes. According to the expert, investors and hedging funds look at fashion as a way to diversify the investment portfolio. As he admitted in an interview with The Financial Times:
Fashion will bring profit within five years, [besides] emphasizes the wealth and status in the environment that will appreciate it.
Catherine Deneuve collection auctioned in Christie ’ s, Source: WWD.com
However, as it turns out, not only private individuals bid, customers interested haute couture or collectors. One of the more interested customer fashion auctions today are museums and … hotels or restaurants. Immediately after the announcement of the Catherine Deneuve wardrobe auction, the YSL Museum, as well as the Bowes Museum from Newgate and the Fashion Museum from Santiago, they reserved selected creations of the master for themselves. While in the case of museums and galleries similar movements should not surprise, in the case of hotels, bidding at fashion auctions is puzzling.
It is very important to have iconic items because they are a great attraction [for the audience]. Especially for new buyers, such as hotels that use them to attract crowds. For example, Sofitel Macau on Ponte 16, he bought a glove for Michael Jackson for $ 420,000 – confirmed by Darren Julien in an interview with “ The Financial Times ”.
/> Michael Jackson glove auctioned for $ 420,000, source: Today.com
Not only haute couture
Hotels, investment funds or top customers derived from the financial elite of the world are still a limited group of buyers. Hence, the growing popularity of slightly more available auctions – jewelry and accessories. Iris Apfel, “ Geriatric Starlet ” She is known for his passion for all kinds of additives. A few years ago, she decided to share her collection with the world. Together with One King’s Lane, she organized auction of necklaces, bracelets, rings, earrings and other accessories. What was not there – gilded lions, colorful parrots, Moroccan fringes and exotic plants, and we are talking only about jewelry. Prices? Maybe not like a chain, but quite affordable. For a collector or a beginner investor, the action was a real treat. That's probably why everything sold out in the blink of an eye.
Jewelry promotion from the Iris Apfel collection, Source: Instille.com
Successful investment
Karen Augusta, the owner of August Auctions in an interview with The Financial Times, admitted:
The Internet has made auctions more competitive and inspired the market. Social media interested auction of young people under 35 years of age, increasing the customer base – including people from places such as New Zealand and Alaska, who are not known as fashion mecca.
Auction houses such as Shotby’s are increasingly focusing on customers with a slightly "more modest" budget. Auctions of handbags and jewelry are organized more and more often and are very popular among investors. Especially those who are just starting to invest in fashion. Of course, it's not about the first better accessories. In the case of handbags, Hermes is a definite favorite, among the jewelry they are Harry Winston, Van Cleef & Arpels or Cartier. Despite the prices, those willing will always be found. On the one hand, luxurious, fashionable brands, on the other, a classic and "well -aging" product. Guarantee of a successful investment?