In the first quarter of 2014 year, the international company Gorgeov’s, which has representative offices in Andorra and Luxembourg, sold by the virtual bidding 15 art works of such great world renowned masters as Pablo Picasso, Paul Gauguin, Claude Monet, Paul Cezanne, Jackson Pollock, Vincent van Gogh and Amedeo Modigliani. The starting price of each piece of art made up 1 million euro.
The transaction processing took place in Andorra. The reason is that the Principality provides the lowest in Europe VAT (IGI) rate (the tax is paid after acquiring artworks). And it makes up only 4.5%, compared to the 21% and 19.5% in neighbor Spain and France respectively. Moreover, the Government of Andorra in 2014, plans to reduce IGI rate to 1%, which should stimulate the development of the art segment in the Principality.
The showroom, where the artworks of Gorgeov’s are exhibited, is located in the capital of Catalonia – Barcelona. This is the place where one can take a close look at the certificates of authenticity for each piece of art, participating in the Virtual Sale. According to the art dealer and chief art consultant of the company, Manuel Giraudier, the most frequent visitors of the Gorgeov’s showroom are private collectors from Asia, North America, Europe, Russia, India and Arab countries.
Gorgeov’s company specializes in online auctions of artworks of the XIX and XX centuries, exclusive watches and jewelry. The auction is available only to the registered users that meet the most stringent selection criteria. The participation in the auction is possible by means of a desktop computer, a mobile phone or a tablet 24/7.