"Monaco and the South of France are safe havens": Nicolas Orlowski, CEO of Artcurial

The head of Artcurial, Nicolas ORLOWSKI, recalls his commitment to the Principality and the entire C?te d'Azur where his group's results, in 2022, reached records.

Artcurial started the year with its prestige sales in the Principality. And the Parisian house is keen to maintain its "historic position", says Nicolas ORLOWSKI, its chairman and CEO, "in the south of France and in particular in Monaco".

This is why it organises a summer and a winter sale in Monte Carlo every year. In 2022, these two events contributed to the group's stratospheric results, which marked its best year in two decades of existence.

"This group is an interesting reflection of how customer habits are evolving in luxury goods, art and real estate. Concerning 2022, there is a post-pandemic catch-up phenomenon that cannot be denied. However, in all our businesses, we have achieved the high end of our most optimistic forecasts with 1.6 billion in total sales in all our areas"

emphasises the group's boss. Auction sales increased by 28% in 2022 to total 216.5 million euros in revenue. At Deauville, horse sales totalled more than 200 million euros in transactions.

Develop a dynamic in the Principality

"Overall, the south of France and Monaco are very dynamic for our group, and remain more than a safe bet"?

This explains the group's commitment to the Principality. In addition to the two annual sales sessions, Artcurial orchestrates the Monaco Sculptures art trail, installing works outdoors each summer in Monte Carlo and confirms this again in 2023. With other projects that could be added to the Monegasque calendar.?

?"What we want is to develop this dynamic and create a regular presence throughout the year to support the Principality in its attractiveness."

A statement by Artcurial's CEO confirms this:

"We are not changing our strategy, Monaco continues to be the base for our auctions in the South. We are going to strengthen this base, while radiating, as we already do, throughout the French Riviera."

Today, more than 150 people are employed by the group in the Principality and in the PACA region.

Accompanying buyers and sellers

The physical presence of customers - onlookers or buyers - at the sales this week in the salons of the H?tel Hermitage attests to two points. On the one hand, if in Paris the auction rooms are rather empty, with potential buyers favouring remote auctions, in the Principality the spirit of the discipline is still prevalent.

On the other hand, the second hand in the purchase of luxury goods is still on the rise, and has become even more democratized in society.

"What we offer above all is the security of a major auction house".

agrees Nicolas Orlowski.

"Our job is also to help sellers adjust prices. Today, buyers have access to information that did not exist 20 years ago. Price adjustment is essential in all intermediary professions. Some products are going up in price, others are stagnating. It's not always easy, but Artcurial continues to do this business the old-fashioned way. And that's how it should be done, with auctioneers who defend the interests of sellers while explaining to them how to set the right price in order to give appetite to the act of sale and a dynamic to the auctions."

Real estate: a good year

Acquired by Artcurial in 2017, the John Taylor property group established in twenty-five countries made its strongest showing in 2022 on the Mediterranean coast.

"The south of France and Monaco were, to our surprise, the most dynamic area for John Taylor worldwide last year. This is where there has been the strongest increase in business,"

says Nicolas Orlowski.

"Stock problems".

If in 2020, the real estate dynamic was towards Switzerland when it left the confines, the results recorded last year show that the French Riviera has taken the lead.

In figures: the real estate activities recorded from Saint-Tropez to Monaco in 2022 are up by 40% compared to 2021.

"The year 2021 was special because it was still in the pandemic, but if we compare with 2019, we are still up by 15%."

In the wake of this, the demand for rental of luxury goods for long periods "has exploded" in the sector, for clients wanting to settle in for two, three or four months.

In 2022, John Taylor Monaco - Luxury Real Estate agency is once again in the top three of the group's branches worldwide in terms of turnover.

"Whether in Monaco, Saint-Tropez or in the entire hinterland, we are faced with a European and international clientele looking for second homes or even main homes. For example, we have about fifty clients in Paris who have sold their residence in the capital for a smaller property. And with the financial gain, they are buying homes in the South,"

continues the Artcurial boss. So much so that the teams were confronted with "stock problems", particularly in the hinterland, where demand was higher than supply. "We sell so many properties that there is a very strong rise in prices for a very large clientele and few properties. Not only homes for billionaires. But also houses at 1 or 2 million euros, which represents a lot of money.

If Nicolas ORLOWSKI confirms that the administrative authorities are today

"extremely vigilant about the real estate business"

with regard to the assets owned in France by Russian oligarchs, the absence of this clientele from Moscow has not - for all that - caused the business to fall.

"In our fields, we see that the absence of the Russian clientele has been 100% replaced by an American clientele, which is making a very strong comeback, at all levels and creating a dynamic in sales of art, collections or houses in the south of France. This is THE phenomenon of the year 2022. Americans feel strong, rich. The death of the dollar was predicted, but it's not really the case".

Property Managers of Tapie's ex-villa in Saint-Tropez

It is a flagship property in the Gulf of Saint-Tropez, overlooking the Bay of Canebiers. La Mandala, a 500 square metre villa nestled in the heart of a two hectare park, has been owned by Bernard Tapie since 2012. The businessman will disappear in the autumn of 2021, and the house has been put up for auction by the commercial court of Liège because Bernard Tapie had acquired it through a Belgian company.

And it was the John Taylor Saint-Tropez - Luxury Real Estate agency that accompanied the sale process for the court of Liège - via a series of proposals made in an envelope - until the sale of the property last June for 81.2 million euros. The sum was paid by Tony Tamer, a New York businessman who made the highest bid against another of his American compatriots.

Logically, the new owner entrusted the management of his French residence to John Taylor's teams in the tropics.

"We signed a contract over several years for a global mandate concerning all the maintenance of the property and the management of its teams,"

"It's an activity that is similar to the para-hotel business, as the Americans are used to services. They don't have the time to take care of the housekeeping and delegate it to us so that the property is operational each time they decide to stay there.

confirms Nicolas ORLOWSKI.

Cédric Verany ??Publié le 20/01/2023 à 12:00, mis à jour le 20/01/2023 à 13:37 @groupenicematin.