15 Minutes with a Price Database Power User: Sotheby’s Design Impresario Jodi Pollack

Art-world insiders trust one tool to buy, sell, and research
art: the Artnet Price Database.
These users cross industries—from auction houses and galleries, to
museums and government institutions—and represent the art world’s
most important players. We’re taking 15 minutes to chat with some
of the Artnet Price Database’s power users to get their take on the
current state of the market and how they’re keeping up with the
latest trends.

Growing up in Chicago, Sotheby’s Senior VP Jodi Pollack would go
for after-school jaunts to design shops with her mother, sparking a
lifelong fascination with art and design. Today, you can find her
at the helm of Sotheby’s 20th-Century
Design department, which, under her leadership, has sold
more than $100 million over the past three years in its New York
auctions alone.

We sat down with Jodi to talk about the global design market,
what designers are hot right now, and most importantly, which
collecting category is the most recession-proof.

This year is your 20th anniversary with Sotheby’s. How have
you seen the design market change over the past two
decades?

The market has changed
enormously over this time. I think the biggest transformation has
been the shift in collecting ideology, from “connoisseur”
collecting concentrated in one particular field, to a more eclectic
collecting approach largely driven by decorating. Twenty years ago,
many of the top collectors were building comprehensive collections
concentrated in one area, such as American Arts & Crafts or French
Art Deco, and their interiors reflected this focused commitment.
Today, many of our most active buyers have multiple homes around
the world, and they are creating incredible environments layered
with art, design, and decorative arts from a variety of periods and
genres.      

What categories within the field of modern and
contemporary design are really hot with collectors right
now?

The biggest names in recent
seasons have been Les Lalanne, Diego and Alberto Giacometti, and
Jean Royère. That said, works representing the very best in quality
across every market—whether prewar, postwar, or contemporary
design—always resonate with advanced collectors. 

What categories, periods, or designers within the sector do
you see as currently undervalued? Which ones are
overvalued?

There are great opportunities in
many of the more classic prewar markets today, including American
and British Arts & Crafts, Art Nouveau, and French Art Deco. These
periods represent extraordinary craftsmanship and quality at very
good values today. Some of the postwar markets that have seen
accelerated rises, like Lalanne and Giacometti, seem like they are
due for a correction, though the strong global demand we continue
to see makes this unlikely anytime
soon.   

Personally, what’s your favorite design period?

I love it all! Today I live with
a lot of American, Scandinavian, and Italian postwar design, mixed
with contemporary design.    

You’ve been incredibly successful selling Tiffany glass,
including the record-setting sale of a window from a church in
Erie, Pennsylvania for $2.7 million in 2016—ten times its low
estimate. You also sell Tiffany lamps in the hundreds of thousands
and millions pretty regularly. Why do you think Tiffany glass has
had such enduring appeal, and what’s the profile of a Tiffany
collector?

Tiffany is so timeless and
iconic, and I think everyone can relate to its intrinsic beauty. Of
all the design markets we cover at Sotheby’s, Tiffany is by far our
deepest market at every level, from $5,000 up to the seven figures.
We sell these works to collectors who are singularly dedicated to
building Tiffany collections, as well as to countless clients who
are integrating Tiffany into much more diverse collections. I have
seen interiors with Tiffany lamps placed alongside a great Basquiat
or Warhol, as well as classic decorative
arts.    

Is there any designer or category within design that’s nearly
always a safe investment?

If you look back over time,
Tiffany seems to be the one area that has proven to be
“recession-proof.” I think this is largely driven by the global
scope of the Tiffany market, and the fact that Tiffany is such a
recognizable commodity.

Do you think contemporary designers whose works have sold for
huge sums at auction, like Marc Newson, will have enduring
appeal? 

In my view, the most defining
pieces by the leading contemporary designers will prove to have the
most enduring appeal. If I were building a collection of
contemporary design, I would focus on unique commissioned pieces,
as well as the most quintessential models and series by a
designer. 

How is the taste in design different among collectors around
the world?

Our buyers have become
increasingly global. We are selling design to collectors on
multiple continents and from dozens of different countries in every
sale. Technology and digital marketing have been a huge driver in
broadening the market. We certainly curate our sales to the tastes
of each region, though we are seeing a rise in global bidding in
all of our selling centers. I see Asia as one of the most exciting
growth opportunities for design. Asia has been a meaningful factor
in the growth of our design sales over the past five years, and I
anticipate this growth will accelerate in the years ahead, given
the demand we are seeing in that
region.         

“There are great opportunities in many of the more classic
prewar markets today, including American and British Arts & Crafts,
Art Nouveau, and French Art Deco. These periods represent
extraordinary craftsmanship and quality at very good values.”

Where do you see the most crossover collecting between design
and art?

No surprise, the biggest overlap
we see in terms of crossover bidding is with contemporary art.
Contemporary collectors are actively buying design of all
varieties—including prewar, postwar, and contemporary material—to
complement the art in their
interiors.    

What is a piece of advice for someone looking to make their
first big design purchase? 

First, don’t rush in—there is
always something to buy. Spend time educating yourself about the
material and the market. Build a library and see as much as you can
to train your eye. And most importantly, only buy what you love and
what will give you pleasure on a daily basis. Don’t buy into
trends.

You just wrapped up a record-breaking online-only sale for
design that totaled $4 million. Are the clients who are buying in
this sale different from the ones you see in live sales?

Yes and no. A large number of
bidders from our core client base were heavily active in the sale.
At the same time, we had 39 new bidders participate in this sale
that had never before bid in our design auctions, and in some cases
were entirely new to Sotheby’s. We are fortunate to have a deep and
global loyal following, and it’s very exciting to see how many new
bidders are being drawn to our design sales. These are all highly
positive signals for the market and future
ahead!       

And of course, what’s the last thing you searched for on the
Artnet Price Database?

Mums the word! You will need to
check in to our next auction. Stay tuned…

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Sotheby’s Design Impresario Jodi Pollack appeared first on
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