“Valuations wherever nearest to you and sell where the market demands it”
In February 2024, Millon Vietnam officially operates. It is expected that in the second quarter of 2024, a new cultural bridge between France and Vietnam is about to be built thanks to the organisation of live duplex (link-up connection) auctions. Sales will be subject to French law on public auctions and in full compliance with Vietnamese law. The fact that an art auction house setting up a branch in Vietnam might have a positive impact on the domestic art market.
Direct advantages:
- The auctions are in conformity with international law, Vietnamese law, and are transparent in origin, provenance, value, liquidity… by being publicly listed. Customers can access information from open sources.
- Customers can see the works of art before the auction. This is very important; Because when coming into direct contact with works or antique, emotions and perceptions will be different from when viewing images indirectly.
- The delicate, luxurious and elegant display space highlights the visual aesthetic performance, creates a feeling of appreciation with the object, the impression, attraction for customers.
- Customers can directly participate, experience in the thrilling and exciting atmosphere of the auction. Exchange information, share emotions with people who share the same interests, passions or find new investment opportunities…
- Artworks will not have to travel between France and Vietnam. This makes buyer and seller people feel secure in ensuring the safety of rare objects.
Regarding national elevating:
- When a major auction house chooses a country to set up a branch, it means that country has great potential for developing the “art asset auction market”. This is a commercial profession with a special nature, great liquidity, related to aesthetics and cultural perception.
- To participate in an auction, customers may come to Vietnam to attend directly. There will be auctions a year. If auction houses open branches in Vietnam, from these auctions, the national brand of art will be shaped and spread in the world art market such as auction centers in Singapore and Hong Kong…
President of Millon – Mr Alexandre Millon as the auctioneer
Mrs Bùi Hoàng Anh: Mr. Alexandre Millon – President of Millon auction house, I am Bùi Hoàng Anh, Art director of Viet Art View, I would like to thank you for accepting the interview. Could you please share some of Millon’s views and plans when opening an office in Hanoi – Millon Vietnam and implementing the “duplex live” auction method in Vietnam.
On November 24, 2010, Vietnamese media reported that a rare painting by former King Ham Nghi was auctioned in France, specifically Millon auction house. It is the oil painting ‘Sunset’ by King Ham Nghi. At that time, this was a quite special event, it caused the name Millon to be mentioned constantly in Vietnam. Therefore, was it 14 years ago that you were the auctioneer in that special auction?
Mr Alexandre Millon: Absolutely, I remember being pleasantly surprised by the very good price obtained for this work in France at the time. Since then Millon has taken a particular interest in Vietnamese painting and Vietnamese art in general, aware that part of the history of our countries (France and Vietnam) is linked and that many cultural exchanges have taken place without interruption.
19 & 17 rue de la Grange Batelière – 75009 Paris
At no. 19: this is Millon’s historic main reception area, housing the Accounting & Communication departments
Au n°17 : The online sales showroom, the Asian Arts and Primitive Arts departments
Mrs Bùi Hoàng Anh: This is probably also your and Millon’s chance with valuable works of art of former kings of Nguyen Dynasty. For example, the auction of the gold seal of King Bao Dai in 2022. What do you personally think about this interesting thing?
Mr Alexandre Millon: The organisation of the sale of this historic piece and its outcome convinced me that we needed to go further for the Vietnamese art market and for Franco-Vietnamese exchanges. Numerous exchanges between Millon, the French authorities and with the support of the Ministries of Foreign Affairs and of Culture – Sports – Tourism of Vietnam, enabled us to successfully bring back to Vietnam the national treasure, being the golden seal “Emperor Chi Bao” cast in 1823 during the reign of King Minh Mang (1820-1841), made of gold, weighing 10.78 kg to Vietnam.
Mrs Bùi Hoàng Anh: Millon is an auction house with a history of nearly 100 years, operating independently according to a family inheritance model. You are the fourth generation when you took over the work. Since then, Millon has continuously achieved new successes. More than 210 auctions per year including 50 online auctions, 11 auctioneers, 30 experts with international reputation, 70 secretaries and collaborators spread over 15 cities in France, Belgium, Switzerland and Spain and 700 days of annual valuations. Is this breakthrough because you have seized the opportunity when you thought that developing branches makes it possible to “valuations wherever nearest to you and sell where the market demands it” to take place quickly and conveniently. Could you please share about this issue?
10 rue de la Grange Batelière – 75009 Paris
The XXth century centre: including the XXth century Decorative Arts, Contemporary Arts and Photography departments.
Mr Alexandre Millon: On April 20th, the finest lots appraised in Vietnam will be in Hanoi, and the top-rated lots appraised in France will be in Paris. The excitement of the duplex will enable collectors from around the world to bid to acquire these artworks. This is how we activate auction thrill in order for sellers to get the best price for the items they have entrusted to MILLON. This is exactly the meaning of our motto.
TROCADÉRO- 5 avenue d’Eylau Trocadéro – 75116 Paris
The Oriental Arts and Modern Paintings departments are located onthe ground floor.
On the 1st floor , you are welcomed in “Les salons du Trocadéro”, an auction and exhibition space in an intimate and prestigious setting.
Mrs Bùi Hoàng Anh: In February 2024, Millon Vietnam officially appointed Mr. Hoang Duy Cuong as director of Millon Vietnam. Millon is the fourth auction house to officially appoint a representative in Vietnam. But Millon is the first auction house to organize a duplex live auction in Vietnam and France. This format will create more opportunities for Asian art collectors to come to Vietnam to participate in the auction in Paris through Millon Vietnam. This is a drastic move in directly accessing the Vietnamese art market by Millon. Are you applying the strategy of “valuations wherever nearest to you and sell where the market demands it” to maximize efficiency?
Mr Alexandre Millon: For nearly 7 years Millon (an auction house since 1928) has been organising sales dedicated to Vietnamese art in Paris. Our experience has shown that around 80% of our buyers are Vietnamese collectors, while most of our sellers are European. Most of the objects and works of art that have circulated in the past come back to enrich Vietnamese collections, thanks in particular to public auctions.
In addition, we were able to observe with representatives of the cultural world in Vietnam that the transparency and guarantees offered by public auctions in France had enabled the return of a “disappeared” treasure (a historic imperial gold seal) to the country where it had been created.
On the strength of these highly enriching experiences and exchanges, Millon’s links with Vietnam have continued to grow stronger, to the point of opening a local partnership to promote Vietnamese works and objets d’art through exhibitions and public auctions, in close proximity to major Vietnamese collectors.
Benefiting from an internet platform for live auctions, the auction that Millon plans to hold at the end of April 2024, in a Paris-Hanoi duplex live, will include lots collected in France and will also offer some lots collected in Vietnam with our Vietnamese partner on site.
The SALLE VV
For 10 years, the Salle de Ventes Volontaires et d’Expositions has been MILLON’s sales area opposite the Hôtel Drouot
A place of freedom… Freedom to set up sales in record time, freedom to exhibit for a whole weekend or a week if necessary,
freedom to hold private exhibitions, conferences or even So Unique or closed live sales…
More than 100 sales a year, so don’t hesitate to come and see us.
Mrs Bùi Hoàng Anh: To decide to enter the Vietnamese art market, you must have done careful research. Currently, in Vietnam, sanctions and mechanisms on auction law, valuation, and appraisal of works of art still need further adjustment to suit actual conditions. Meanwhile, Millon’s mission is to “protect sellers and guarantee for buyers”. Therefore, how could you harmonize “buyer and seller” while ensuring compliance with Vietnam’s legal regulations?
Mr Alexandre Millon: This project will be carried out under the strict laws governing public auctions in France, but with a Vietnamese partner who also enjoys legal status in Vietnam. The aim is to promote cultural collaboration between France and Vietnam and to boost the Vietnamese art market as part of this partnership. For example, we will be able to receive Vietnamese collectors in Hanoi and provide them with all the guarantees and information they need, while at the same time presenting works in France.
L’HÔTEL DROUOT
This temple of auctions needs no introduction (900 sales a year). In comparison, MILLON alone holds 150.
MILLON gave 2 presidents to Drouot and still achieves more than half of its sales in terms of numbers.
It is here that the majority of its records have been achieved to date. We accept our hybrid, multi-site position,
depending on the city or country, with the sole credo of “selling where the market demands it”
Mrs Bùi Hoàng Anh: In addition to organizing “Duplex live France-Vietnam” auctions, in the near future, has (or will) Millon have any plans to contribute to elevate the position of Vietnamese art in the world?
Mr Alexandre Millon: This April sale is not a one-shot. As the first Western auction house to establish a branch in Vietnam, we aim to be a trailblazer in Art relationships between our two nations
Sincerely thank you for these shares. We wish Millon Vietnam sustainable development with achievements in the Vietnamese art market.
Bùi Hoàng Anh (performed)
