The Parisian auctioning group Poulain-Le Fur has denied it had reached an agreement with Sotheby's with a view of organising sales in Paris before a long-delayed draft on the reform of auction sales in France is adopted by the National Assembly. Well-informed sources said on August 18th 1999 that such deal had been secretely concluded during the first week of August and was about to take all actors of the French auctioning profession by surprise.
Sotheby's already called upon the Poulain-Lefur group to organise the successful Château de Groussay sale last June as this Anglo-Saxon group could not manage it directly due to present French laws which only allow local auctioneers to hold the hammer.
The reform of the auctioning was due to be implemented two years ago, a fact that induced Sotheby's and Christie's to take steps in order to be ready at once to organise sales in France but neither the Juppé or Jospin French governments showed their concern. Truly speaking, there was much resistance at the start on the part of French auctioneers who wanted official guarantees regarding the amount of indemnities for those who would stop their activities or be forced to find new alliances to face the Anglo-Saxon drive.
Negotiations got stalled over this matter while the National Assembly and the Senate dragged their feet when it came to prepare a draft on the reform which will now be discussed next fall.
In the meantime, Sotheby's bought new premises facing the Elysée Palace in order to organise sale and Christie's followed in their footsteps in purchasing the ArtCurial building not far away alongside the plush avenue Matignon.
Nevertheless, their was a hot debate regarding Sotheby's intention to organise the Groussay sale and the Anglo-Saxon group had to find an alternative solution through the Poulain-LeFur association to avoid losing this big cake. Now, thanks to the deal reached with the Parisian group which now will serve as a screen, Sotheby's will not have to wait for the implementation of the new law to organise sales in Paris, probably in the renovated Palais des Congrès compound 400 yards away from the Arc de Triomphe monument.
It is therefore liley that this group, with the advantage of the Poulain-Le Fur bridge-head, will for a start beat Christie's to the post in the French capital.
Adrian Darmon
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