On Jan 3, Weng Fine Art became the only company to go public in the once booming Krenfeld, Germany in almost 3 years. According to this article, this art firm’s success is not as surprising as it would appear – the North Rhine-Westphalia area where it is housed is one of the wealthiest in the country and is just a 20-minute drive from the culturally vibrant Dusseldorf.
Weng runs his business uniquely – he prefers to discuss art deals one on one with his contacts, instead of attending big art fairs or showing at a big gallery in a major city.
Skate’s art market index warns of the unlikely success for the firm though, by comparing its current trajectory to that of other Art dealers that previously went public only to go private again shortly after.
[This article was drafted with the assistance of Nicole Dornbusch].