Art-Rite launches luxury fashion department with first auction in December 2024

Italian auction house Art-Rite, the first to be owned by a banking group (Banca Sistema via Kruso Kapital since November 2022), is expanding into luxury fashion with a new department. The first auction is scheduled for December 2024. In the first half of 2024, Art-Rite achieved total sales of just over €1.2 million across nine auctions (six hybrid, three online) and private transactions, slightly down from €1.3-1.4 million in the same period last year. Top lots included two 1960s stamped letters sold for €100,000 and €80,000, an untitled 1994 oil on canvas by Salvo for €36,250, and Massimo Campigli's 1961 'Figure' for €26,250. The philately session in February marked Art-Rite's debut in that sector. The new Luxury Fashion department, led by Sofia Zagari, will focus on provenance certification, authenticity, and rigorous research on originality, quality, and longevity of items. Department Head Federico Bianchi emphasized the company's commitment to continuous growth and market responsiveness.