Finarte's Pandemic Strategy: Online Auctions and Future Plans

Fabio Massimo Bertolo, Business Development at Finarte Auctions, discusses the auction house's response to the pandemic. With offices in Milan and Rome closed, Finarte shifted operations online, using WhatsApp for initial artwork evaluations and maintaining client contact via newsletters and the website. Two online auctions were notably successful: a Photography auction on March 17 achieved €400,000, a record for the sector in Italy, and a Modern Graphics and Multiples auction reached €160,000 with over 80% of lots sold and 135% value. The latter was conducted entirely from the auctioneer's home via live stream, possibly a world first. Bertolo notes that traditional auction rooms have been in crisis, and digital tools offer cost savings and flexibility. He predicts a shift towards digital catalogs, appointment-only viewings, and remote sales, though physical contact with artworks remains essential for certain categories like Old Masters and Modern Art. Finarte plans an auction of Modern and Contemporary Art in Rome on May 28, followed by Fashion Vintage (June 11), Jewels, Watches, and Silver (June 22-24), and Books and Manuscripts (July 2). Bertolo believes collectors have rediscovered their collections during lockdown and expects a return to normalcy in autumn, though personal interactions for valuations will remain irreplaceable.