Winter 2025 -

IN FOCUS /

Private Sales Surge as Auction Market Cools

Historically, auctions have been the most efficient way to sell art. However, today's challenging auction market, marked by low reserves and unsold lots that risk "burning" artwork, has made collectors increasingly cautious. Those with flexibility in their timing are now turning to galleries and experienced dealers for resales, preferring the ability to set their own prices.

In 2024, Cochran Arts achieved record success in private sales, working with both individual collectors and estates. Our comprehensive approach includes thorough artwork evaluation, analysis of market history for precise pricing, strategic partner selection, and end-to-end management of contracts, shipping, and negotiations—resulting in multiple six-figure transactions. For our collectors, who view themselves as temporary stewards of these works, there's profound satisfaction in knowing their pieces have found appreciative new homes where they'll be cherished.

MARKET INSIGHT /

Will New EU Art Tax Rules Reshape the Collector Circuit?

Buildings at waterfront with large sculptural hands rising from the ground

Art world cities have long competed based on their cultural offerings of galleries, fairs, biennials, auctions, as well as their hotels and restaurants. In Europe, this has led to collectors rotating between cities like Maastricht, Basel, Paris, Berlin and Venice. Now, the EU's Directive 2022/542, enacted January 2025, adds tax considerations to this dynamic by shining a light on VAT rates on fine art across member states.

Previously, VAT rates ranged from 5% to 21%, challenging cross-border art commerce. Germany and France have adopted competitive rates of 7% and 5.5% respectively, while Belgium and the Netherlands consider higher rates of 21% and 22%. These tax disparities may increasingly influence collector behavior, potentially altering the competitive balance among European art destinations.