Media Release

deutscher and hackett announces

Opening Auction, Premises & Chairman

Australia’s new fine art auction house, deutscher and hackett, has announced details of its opening program, premises and business structure.

The inaugural auction will be held in Melbourne on 9th May 2007, targeting sales in excess of $6 million.  Major auctions will also be held in August in Melbourne and November in Sydney.

deutscher and hackett will operate from purpose-built exhibition galleries in Melbourne, in Commercial Road, South Yarra, and in Sydney's eastern suburbs (currently under negotiation).

Designed in consultation with leading architect, Nonda Katsalidis, the 600 square metre Melbourne gallery will be arguably the best private exhibition space in Australia, specifically designed to conduct auctions on-site.

Chris Deutscher and Damian Hackett also announced that Melbourne arts identity and businessman Ian Hicks AM has joined the firm as Chairman, and has become an equal third equity holder in the business with the two founding partners.

A long time collector and passionate supporter of the arts, Mr Hicks is Deputy Chairman of the National Gallery of Victoria Foundation.

“We are delighted to have a person of Ian’s passion, commitment and corporate wisdom as an integral part of the team.  He will make a strong contribution to the business and is part of an operation which will have significant financial depth from day one,” Chris Deutscher said.

Apart from the core fine art auction business, deutscher and hackett will also develop and service the expanding collector base by exposing its audience to exhibitions of major Australian and International art.

We have great energy, substance, a focus on client service and the clear aim to rapidly become the leaders in the Australian art market,” said Damian Hackett.

The Melbourne and Sydney premises will be opened in March 2007.