Not in all cases have the larger auction houses been that successful with their recent auctions. Some sales did better than expected and others were somewhat disappointing.

Never the less this may of course not put any restraints on the development of new markets and exploring new opportunities. A bit later than one may expect, Turkey has finally been added to the list of upcoming markets.

Sotheby’s announced yesterday that they have opened an office in Istanbul. Henry Wyndham, Chairman Sotheby’s Europe, said:

“In recent years, collectors and buyers based in Turkey have become increasingly active in Sotheby’s international auctions across a broad spectrum of categories. Our decision to open an office in Turkey and appoint Oya Delahaye - a Turkish national - as Head of the office is testament to the importance of Turkish-based clients to Sotheby’s global business. This initiative will allow us to provide a more sophisticated level of service to our existing collectors and enable the company to further develop its client base in the country.”

Who will follow ?