KRUSO KAPITAL: GROWING RESULTS AND SYNERGIES ONE YEAR AFTER THE ACQUISITION OF ART-RITE AUCTION HOUSE

One year after the acquisition of the Art-Rite S.r.l. auction house by Kruso Kapital S.p.A., the Milanese art house is recording positive results on several fronts: from the more tangible one of sales, with a +100% increase in prices (as of 30 September 2023), to a greater perceived authority by the reference sector, without neglecting the improvement in the operational efficiency of internal procedures. Moreover, in the first half of 2023, the total value of auction sales reached €1.3 million, an increase of 88% compared to the same period in 2022.

The best results were achieved by the Modern and Contemporary Art department, which has always been Art-Rite's flagship, followed by the Comic Art department, which is a distinctive sector for the auction house, and the Numismatics and Jewellery departments, "younger" departments that have achieved important goals this year and have also made significant progress in the private treaty field.

Some of the most notable results include:

• Carla Accardi, 'Segni misti', 1983, oil on canvas, 140 x 95 cm: € 187 500 (Modern and Contemporary Art sale, 20 June 20-23)
• Victor Emmanuel III (1900-1943) - 100 Lire 1903, Gold, Giant 1 Very rare, insignificant and very sparse contacts to the /D, but specimen of great beauty with mirroring background and perfect satin relief to the /R. Practically FDC, q. FDC/FDC: € 31.250 (Numismatica auction, 19 October 2023)
• Pablo Bronstein, 'Horological piazza', 2008, installation consisting of 4 clocks on pedestals and a mixed technique on paper: €27,500 (Auction 4-U new Arte Contemporanea, 20 July 2023)
• Charles Schulz, 'Peanuts', 1957, pencil and ink on paper, daily strip dated 10 January 1957, 17.5 x 73.2 cm: € 20,793.78 (Comic Art & Legendary Heroes auction, 15 March 2023)

In 2023, the "4-U new" auction format, which is dedicated to ultra-contemporary art, i.e. artistic research from the last 25-30 years, once again saw significant growth, accounting for over 80% of the lots sold, demonstrating the market's growing interest in unique and distinctive works typical of today's reality.

In addition to the increase in sales, new services were also introduced, such as Art-Kredit, a form of financing that is part of the broader art lending sector and allows people to obtain a loan against the guarantee of works of art and valuables. Art-Kredit is a symbol of the synergy and marriage between the worlds of art and finance, between the professionalism and artistic knowledge of Art-Rite and the technological processes and financial know-how of Kruso Kapital.

"We are very satisfied with the course set by Kruso Kapital's acquisition last November," says Art-Rite CEO Attilio Meoli. "Sales volumes have increased as a direct result of a more attractive collection phase, but private treaty business has also grown significantly. 2023 was the year in which the foundations were laid for the near future and the prospects for growth are numerous".

Giuseppe Gentile, Managing Director of Kruso Kapital S.p.A., continues: "The growth and development of the Auction House, but also of Kruso Kapital, is certainly also due to the implementation of the Art Credit service, which has already yielded satisfying results and has led us to consider the expansion of the Art-Rite departments. In fact, the new Philately department will open in 2024, to be followed in the second half of the year by the Wines and Spirits and Fashion Vintage departments".