Christie’s CEO Guillaume Cerutti speaks with Art News this week, as he contends with the new landscape of the auction market in the current days and months to come. “2020 was an unusual year: collector demand was resilient, but supply was more difficult [to obtain], with some consignors being concerned by the impact of the pandemic,” he says. “Private sales and guarantees have undoubtedly been a way to reconcile these two diverging trends. There are traditionally fewer guarantees in Asia than in Europe and in America, for various reasons. In any event, the decision to use a guarantee remains case by case, according to each consignor’s risk appetite.”
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