Karl & Faber Fine Arts Reports Record Year Despite Pandemic

Karl & Faber Fine Arts, a Munich-based auction house, achieved its most profitable year in 2020 since its founding in 1923, according to Teresa Meucci, the company's representative for Italy. The auction house adapted to pandemic restrictions by implementing smart working, maintaining client contact via phone and email, and conducting live-streamed auctions on YouTube, Facebook, and Instagram. They also introduced new formats: 'solo online' auctions (exclusively web-based, no auctioneer, with a set bidding period) and real-time online auctions. The first real-time online auction, 'Made in Munich,' took place on April 21, 2020, in collaboration with ten galleries and art publishers, making Karl & Faber the first in Germany to launch such a format. The next 'solo online' auction, featuring modern and contemporary art, runs until April 28. Meucci noted that digital tools attracted clients from 94 countries, but physical spaces remain essential for older collectors who prefer to view artworks in person. The German auction market proved stable and strong during the crisis, with art remaining a desirable investment. Karl & Faber plans to maintain online auctions while enhancing digital communication through newsletters, website, and social media, and looks forward to resuming local public events.