Michel Strauss, head of Sotheby's department of Impressionist, modern and contemporary paintings has left the American-owned auction house, has been called by Bernard Arnault, the president of the LVMH group, to act as his advisor, it was learned on October 17th 2000. Mr Strauss' department recorded 38% of Sotheby's turnover. Mr Arnault reportedly asked him to work on a major artistic project similar to that conducted by his rival François Pinault who plans to open a Modern Art Museum in Boulogne, just off Paris. In fact, it seems most likely that Mr Arnault intends to create a new board to supervise the activities of Phillips, the London-based auction house, which he acquired a few months ago.
Mr Strauss 64, has been in contact with most of the collectors of Impressionist and modern paintings from whom he has won much respect. In addition, several directors from Sotheby's have joined the staff set up by Mr Arnault recently, notably Thierry Millerand, former head of the furniture department in New York, now in charge of Phillips'.
It was learned that John Block, head of the Jewellery department in New York, and David Bennett, who was Sotheby's chairman in Switerland, both resigned from their posts. Such resignations suggested that the presence atmosphere at Sotheby's was somewhat tense following its problems with U.S justice.
Bernard Arnault seems determined to develop the activities of Phillips to challenge the dominant position detained by Sotheby's and Christie's. All the more, he might not have given up the idea of gaining control of Sotheby's in a near future.
Home
