2025 Chairperson’s Report 

19 Dec 2025

“Notwithstanding a challenging global backdrop, Strauss & Co delivered another year of steady growth in 2025, driven by an expanded auction programme, strong demand for exceptional works, and the continued diversification of our collecting categories. 

The energy in our salerooms, the depth of participation across digital and live platforms, and the success of our international and regional initiatives all point to a resilient and confident market. 

We enter the year ahead well positioned, with a focused and well-motivated team, a broadened audience and sustained momentum across all facets of the business.” 

– Frank Kilbourn, Chairperson, Strauss & Co 

 

As we enter the final weeks of 2025, I am pleased to present this Chairperson’s Report summarising the trading year at Strauss & Co for the period January to December 2025.  As is customary, my report provides a broad overview of our sales activities, highlighting important results and trends across Strauss & Co’s various departments.  

It has been a seesaw year for the global art market, but despite intermittent headwinds I am delighted to report that we remain on a steady growth trajectory. Strauss & Co delivered a strong performance over the past year, achieving solid growth across its core business and new collecting categories. 

Strauss & Co achieved sales of R475.5m / $28m from 6 927 lots sold through our various sales channels in 2025. Our turnover increased by 26% over 2024. 

I attribute this momentum to our expanded auction programme, a broader range of artists and  makers, and the successful introduction of luxury collectables alongside established strengths in fine and decorative art. Landmark single-owner and corporate collections further enhanced the auction calendar, while a generally improving domestic economic outlook helped restore confidence among buyers and consignors.  

Art remains the company’s principal revenue stream, with sustained demand for high-value works, a healthy contribution from private sales, and continued dominance by leading South African masters. Earlier this year, I wrote in a letter that works of exceptional quality consistently stand out and provide stability in periods of uncertainty and market fluctuation. Two works sold by Strauss & Co in 2025 emphasise my point. 

In May, at our flagship Johannesburg auction, we sold Vladimir Tretchikoff’s 1955 signature portrait Lady from the Orient for R31.1m / $1.8m to a telephone bidder after a dramatic flurry of 89 bids. The astonishing price is a new world record for the artist.  

In October, at our International Sale in Cape Town, six bidders vied for Irma Stern’s magnificent 1946 portrait Malay (Black Headdress), which eventually sold to a resolute telephone bidder for R21.7m / $1.26m. The fevered enthusiasm can be ascribed to the quality of this work and the fact that it had been held by the same family for over a half century. 

At both these sales, and again at our November flagship auction in Johannesburg, there was a palpable buzz in the room. I came of age as a collector in the era of packed bidding rooms in Cape Town and Johannesburg, London and New York. The increasing digitalisation of trade and industry, while hugely beneficial to our business, has changed ago-old habits. It is gratifying to see new and old friends participate in the social aspects of collecting: from attending preview exhibitions, walkabouts and educational talks to bidding in the room for a prized work. 

In 2025, Strauss & Co also made important strategic advances. The revitalised design, furniture and jewellery department reached a new level of maturity, while the wine division consolidated its position as the leading marketplace for rare and fine bottles. Digital auctions continued to underpin growth, accounting for the majority of lots sold, supported by steady increases in new registrants and buyers from across the globe. 

International engagement remained a priority, with focused marketing activities in Europe and a highly successful inaugural auction in Kenya, extending the company’s regional footprint. Internally, the year was marked by meaningful staff development through senior promotions, strengthening institutional expertise and leadership for the future. 

Thank you for your continued loyalty to Strauss & Co. We look forward to welcoming you to our Cape Town salesroom in January as we kick off our exciting programme for 2026. Ours is a shared passion, and we at Strauss & Co are grateful for the opportunity to steward it together. 

Yours sincerely, 
Frank Kilbourn 
Chairperson, Strauss & Co