Sotheby's Italia Managing Director Filippo Lotti on Online Auctions' Success

Filippo Lotti, Managing Director of Sotheby's Italia, expresses strong enthusiasm for the online auction market during the pandemic. In 2020, online auctions generated over $36 million, more than double the same period in 2019, with 14 online auctions in March alone achieving over $25.8 million. Private Sales, which exceeded $1 billion last year, have also been enhanced with a dedicated online service. The lockdown has allowed younger professionals in their 40s, already active online, to significantly increase the number of new buyers. Sotheby's has postponed its April auction for Modern and Contemporary Art to June 4-16, moving it online to maintain the two annual appointments in Milan. Lotti notes that the international operational network is more active than ever, with specialists in daily contact with collectors and dealers. The house, founded in 1744, awaits future live auctions but leverages this opportunity to strengthen its online presence.