Art News

Abbey House Sets Out to Conquer World Markets; will Open Four Branches

POLAND.- In a month’s time it is going to open a gallery in Berlin, and soon afterwards in Los Angeles, London and Dubai. Abbey House SA operates in the very niche market of works of art, currently estimated at 300 million zlotys. In a few years’ time, however, it may grow up to 6 billion zlotys. The total figures related to sales of paintings in Q1 2011 in Poland raise optimism. Works of art worth over 10 million zlotys have been sold, which makes it possible to predict a year-end result of 40–50 million zlotys, i.e. 40 per cent higher than last year. The strategy of Abbey House SA consists in the close collaboration with a group of selected artists with which the company signs agreements for several years. The company promotes the artists and their work and earns money selling it. Only one painting is put up for sale each month, however, while the others remain in the Abbey House safe and their value gro