Art + Culture

After Kevin Ching, Amy Cappellazzo, Yuki Terase, Patti Wong, Sotheby’s looses also Brooke Lampley, who heads to Gagosian Switching from an Auction House to a Commercial Gallery

Brooke Lampley
Brooke Lampley

Brooke Lampley, the global chairman and head of global fine art at Sotheby’s, will leave the auction house at the end of May for a Senior Director position at Gagosian, ARTnews has learned.

Lampley joined Sotheby’s in 2018 after having worked as a specialist at Christie’s where, in 2015, she began leading that house’s Impressionist and Modern Art team in 2012. Over her six years at Sotheby’s Lampley has helped real in marquee worthy consignments and estates, including the Macklowe collection and a rare copy of the U.S. Constitution in 2021 and, much to the chagrin of Christie’s, the Emily Fisher Landau collection in 2023.

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Brooke Lampley

When asked about the move Lampley said “after 20 years of auctions, I am excited to experience another side of the art world, and to learn from the very best. My love of art is what drives me, and I am looking forward to getting closer to artists and thinking deeply about the evolution of a body of work.”

Jewelry Auction
Brooke Lampley

Besides overseeing Sotheby’s Contemporary, Modern, Photographs, 20th Century Design, and Prints departments, Lampley was a driving force behind Sotheby’s robust private sales department and invariably has a rolodex full of contacts that will be greatly appreciated and put to good use at Gagosian.

“Brooke is a proven secondary market operator with strong client relationships. She has a drive and entrepreneurial spirit that I think will fit in well at the gallery,” Larry Gagosian told ARTnews.

Lampley is slated to start at Gagosian this fall and will continue to be based in New York.
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But I don’t necessarily think it’s a bad thing in and of itself. It just is what it is. I don’t have a moral opinion about what kind of trading velocity or traction exists in the marketplace for young artists. I don’t have moral position on the fact that it’s raining today. Would I prefer it not to be raining today? Sure. But I don’t have a moral position on it one way or another. The art market is like the weather in that way. It is what it is. People should stop complaining about the weather and get an umbrella. Figure out how to cope it with it.
If an artist doesn’t ever want to sell at auction, then she should probably consider never selling any work except to her parents or her parents’ friends. But if an artist is going to sell a work of art for money, then she’s traded away the power and control over that painting. That’s just the first rule of business. That’s how the marketplace works. Honestly, dealers and MFA programs should work harder to educate artists on the way the market works so that they’re more adept and savvier about how the art world works by the time they reach a certain level of success.“ The art market is like the weather. It is what it is. People should stop complaining about the weather and get an umbrella. Figure out how to cope it with it.”

There are rumours of further redundancies early next year as Drahi forges ahead with his cost cutting, which Bloomberg estimates to be in the region of $66m, but some say could be as much as $100m. Drahi borrowed $1.1bn to help finance his $2.7bn purchase of Sotheby’s.

courtesy Sotheby’s
courtesy Sotheby’s

Sotheby’s Breakfast Club: Brooke Lampley, Amy Cappellazzo and Mari-Claudia Jiménez Photography by Julian Cassady for Sotheby’s

Patrick Drahi’s Altice, owner of Sotheby’s, actually is in the process of restructuring its financial debts.
More @ the following links.

What’s Another $25 Billion on $100 Billion of Debt?
A potential deal between Charter and Altice USA would create a highly leveraged cable player. But the alternatives for both firms could be worse.
March 5, 2024
An ambitious deal may be brewing in the US cable industry, creating a behemoth carrying nearly $125 billion of debt. If Spectrum Internet owner Charter Communications Inc. wants to formalize a takeover of billionaire Patrick Drahi’s Altice USA Inc., it needs to be sure the benefits are worth the considerable financial stretch. The dilemma is that passing on a transaction carries risks of a different kind.
Charter’s stock and bond investors reacted nervously last month when Bloomberg News reported that management was weighing an offer for the US slice of Drahi’s telecoms empire. The company already carries nearly $100 billion of net debt. Its main shareholder is Liberty Broadband Corp., a vehicle of cable tycoon John Malone, himself no stranger to leverage.
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アジアのアートマーケットの中心的人物:26歳のネイサン ドライ氏、新CEO サザビーズアジア (サザビーズのオーナー パトリック・ドライの息子)
Key Person of Asia’s Art Market: 26 Years Old Nathan Drahi, New CEO Sotheby’s Asia (Son of Sotheby’s Owner Patrick Drahi)

Ching, who will continue as a chairman emeritus at Sotheby’s, analyses the actual auction situation with the following statements:
“When I joined 15 years ago, we were reminded not to link art and investment. Investment was almost an ugly word. Then, the world changed. As art became more expensive, a painting is not just art,” he says.
“When someone is spending US$20 million to US$30 million, say, on a piece of art, it would be silly not to ask if it’d make good investment. So to sell a painting, you can no longer just rely on the expertise of your specialists. I’m leaving at the right time. Now it’s about deals.”

more detailed infos, check:

When will Nathan Drahi from Sotheby’s get out of Hong Kong?
Patrick Drahi’s Extremely Capitalistic Way of Art Dealing And Speculating With Sotheby’s

Sotheby’s Harsh Reshuffle: After Amy Cappellazzo and Kevin Ching, Next Prominent Figure TERASE Yuki Bites the Dust

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Today’s New York Times: what a joy, Yuki & Amy in full swing for the Asian art market! … our stars in the auction world

世界一のアートディーラー、New York City ラリー・ガゴシアンを巡って
World’s No.1 Art Dealer, Larry Gagosian from New York City

June 13, 2022
How Type-A Market Dealmaker Brooke Lampley Became the Highly Meme-able Face of Sotheby’s Next Generation
Sotheby’s worldwide head of sales for global fine art talks Macklowe, Patrick Drahi, and the crypto community’s fleeting obsession with her.

Some of those risks included a reconfiguration of the Imp-Mod and contemporary departments into three separate categories: Modern, contemporary, and “The Now.” As part of the reorg, Sotheby’s anointed three new sale heads with their own respective teams and placed an overarching focus on expanding the house’s collector base. The company also expanded its art-finance arm, leaned into the Metaverse, and opened pop-ups in the Hamptons, Palm Beach, and Monaco—efforts that seek to make Sotheby’s a vertically integrated luxury consumer business, not simply a purveyor of art and antiques.

These changes likely played a role in helping the house secure the Macklowe collection, which last month became the most expensive private art collection ever go to auction.

One of Lampley’s strengths during our conversation was her ability to articulate long, intelligent-sounding responses to my questions without really answering them. (The only time she got truly tight-lipped was when asked if there are any updates on the plan to take Sotheby’s public again: “No news on that front.”)
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Up-date 2024/5/29

Sotheby’s Will Reportedly Lay Off Dozens of Employees in the UK
May 29, 2024

The house is reportedly set to cut around 50 employees based in London, and per the Art Newspaper, similar layoffs may follow in New York and at other Sotheby’s locations in Europe.
A Sotheby’s representative did not immediately respond to request for comment on the Art Newspaper report, which stated that the auction house had entered a “consultation period” in which it would evaluate its financial future.

Last year, Sotheby’s laid off at least 10 senior employees, a cutback that also seemed to coincide with the departure of at least four people involved in NFT-related sales.
Since 2019, Sotheby’s has been held privately by Patrick Drahi. In the past few years, however, there have been rumors of possible financial changes at the auction house, including a potential plan to take Sotheby’s public once again that first made the press in 2021.
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