All posts tagged: Fair Warning

Lévy Gorvy Dayan Launches LGD Hammer Sales Platform

Lévy Gorvy Dayan Launches LGD Hammer Sales Platform

Published by José Betancourt

Lévy Gorvy Dayan is rolling out a new way to sell high-value art, though gallery cofounder Brett Gorvy is quick to lower the temperature on the idea. The gallery’s new platform, LGD Hammer, isn’t meant to remake the market. “We aren’t inventing a new paradigm, but it is a development,” he said. The platform, he said is informed by recent changed in the market. Private sales have slowed. Collectors want time to look, think, and negotiate. Deals stretch out. “There’s no urgency,” Gorvy said. Even strong works can sit while buyers circle. Related Articles Auctions still do the opposite. They create a moment: you either show up and bid, or you don’t. That pressure matters more right now because the market has spent the past couple of years resetting. Auction houses have leaned on lower estimates to get works moving, and the results have been solid. Strong sell-through rates and a run of clean sales have pulled sellers back toward competition. Now, LGD Hammer wants to bring that pressure into a gallery setting. Instead of sending a …

Loïc Gouzer’s Fair Warning Debuts New “No Warning” Art Sales Model

Loïc Gouzer’s Fair Warning Debuts New “No Warning” Art Sales Model

Published by Jenni Sidey

Loïc Gouzer has a new idea for how to sell art. It’s untested, but for him that’s part of the appeal. On April 23, his auction app Fair Warning will roll out a new format called “No Warning.” The premise is simple and a little unnerving if you are used to buying via fine art auctions, but perhaps not if you’ve spent any time on eBay or Poshmark. To start, a work will appear for sale (with a price). You can either hit “purchase now” or submit a single offer. Then you wait. There is no bidding war, no incremental raises, and definitely no call from a specialist nudging you higher. Related Articles “I have no idea if it’s the stupidest idea in the world or a genius idea,” Gouzer told ARTnews in an interview. “It’s probably somewhere in the middle.”  That uncertainty is part of the pitch. Offers are binding for 72 hours. The highest one goes to the seller, who decides yes or no. Buyers are not told if they have been outbid, Gouzer said, …

Fair Warning Expands with Saara Pritchard, Doubling Down on Conviction

Fair Warning Expands with Saara Pritchard, Doubling Down on Conviction

Published by Jenni Sidey

In 2020, as the art market scrambled to move online, Loïc Gouzer tried something smaller. After years staging blockbuster evening sales at Christie’s as chairman of post-war and contemporary art, he launched the app Fair Warning. Its premise was simple: sell one work at time to a tightly screened group of collectors. Five years on, that constraint defines the company. Fair Warning has sold roughly $81.9 million worth of art not through volume, but through a steady cadence of tightly edited offerings. Its results suggest that the model can work. Last November, an Andy Warhol portrait of Brigitte Bardot from 1974 sold for $16.7 million, the highest publicly reported price for the artist that year. A year prior, a Fair Warning sale set a new record for Elizabeth Peyton at just over $4 million. Before that, the app sold a 1982 Jean-Michel Basquiat work on paper for $10.8 million. Related Articles The platform’s next test comes on Thursday, when it will offer a 1960 painting by Dorothea Tanning, estimated at $700,000 to $1.2 million. Now Fair Warning …