Investing in Antiques: outlook for Russian art

ARTinvestment.RU – 12.10.2008,09:21

striking five-year market antiques

The first evidence of the beginning of the boom in the market of Russian art related to 2003, when Russian special Sotheby's auction were recorded unusually high prices for masterpieces of national art. At that time, prices for antiques has created a record. But then even the most insightful visionary could not suggest what the levels achieved at the price of Russian art in the next five years, «Russian boom».

A simple example: the Sotheby's auction on May 21, 2003 Amazon, the avant-garde work by Natalia Goncharova « bathing boys » (1911) was sold for fiction at the time 464.8 thousand pounds (about 850 thousand dollars). In 2006 at Christie's, its work «rowers» (1912) has already sold over 1,05 million pounds (2 million dollars). In the year 2007 was a new breakthrough price: dvuhmetrovy canvas «Spanish dancer» (about 1918) was sold at Christie's to 2.35 million pounds (4.6 million dollars), a picture of «Collection of apples» - for 8.1 million dollars in terms of pounds. To date, the auction record for work by Natalia Goncharova was 10.9 million dollars in proceeds to Christie's July 24, 2008 for work « Flowers ».

Note that in all cases the works of different, but comparable class, belonging to a valuable period. And it is highly likely to assume that appears today in the bid again, the same «bathing boys» from the Shalyapin (sold in 2003), their price would be not 850 thousand dollars, and at least 8 million - that is over five years has grown to ten times. By the way, today is the work of Natalia Goncharova 7 position in the ranking of the most expensive works of Russian artists and is the most expensive piece of in the world, owned by the brush of women artists.

Note that the example of Goncharova's telling, but not edinichen. These trends, in terms of the speed of price growth: comparable rates of a number of expensive works of Russian artists abroad - Andrew Lanskoe , David Burliuk , Vladimir Baranov-Rossini , etc.

Among the areas most promising for investment in the market of antiques, there are Russian art of the first third of the twentieth century and its direct continuation - artist «Russian foreign», left Russia before and after the revolution. Plus, very soon, going 50-year-old line, which serves as the border trim antique period, the level of antiques will add an informal post-war works of art, that is the work of artists sixties (this area also demonstrates outstanding potential for growth in prices).

But keep Sixties by and come back to antiques, which includes the work of an entire galaxy of Russian artist of world importance and the world is fame. Suffice it to recall the Vasily Vasily Kandinsky , Haim Soutine , Chagall , Alexander Yakovlev . All of these names on the ears, and each can be relatively free to buy at world auctions, if an investor has a budget of 4-10 million dollars. (You need a reservation, that the work of Alexander Yakovlev can still be bought even for 100-200 thousand dollars, and the liquid schedule Shagal is a relatively affordable price range.) Furthermore, should bear in mind that the work of the artists are not undervalued and therefore prices are growing accustomed to the world market rate - 10-15 per cent per annum (Russian investors such performance is difficult to cast a spell).

boom is connected to the antique market, with names like Andrew Lanskoe or David Burliuk, prices for good work are over five years increased by 5-7 times.

This year, experts have drawn attention to the rapid rise in the prices of artist Erte , 11 line in the rating of the most expensive works of Russian art to the canvas «Portrait of Basil Shuhaeva in his studio» (1928, 2,5 million pounds, Christie's 2007). In addition, the top 12 entered, Vladimir Baranov-Rossini, занявший 10 line rate to work «Rhythm (Adam and Eve)» in 1910, which in June 2008 was sold by Christie 's for 2.72 million pounds (5.4 million dollars).

Problems antique market

Remembering tempting records, it must be said that investors in emerging market antiques these days, do not overly regret that did not have to cost the mid 2000's. In many ways, they, on the contrary, it is envy: they go to market much more transparent and predictable. In general, the domestic market for antique art for five years, has done a tremendous way, has become safer and largely overcame «diseases», the relevance of which if not left out, but became lower.

For example, among the historical problems of antique art market is worth noting the problem of counterfeiting. They have and will. «Falshaki» buy at auction (including the world's leading platform), produce (think fake Shishkina, turned from Marinus Kukkuka), issuance, using the lack of buyers. But today, in the way of this plague face many barriers: a range of experts, to trust the professionals (eg, experts MKAAD - International Confederation of antique and art dealers of the CIS and Russia), a range of professional market participants, especially the galleries of high repute. Become available specialized Internet Resources directed investors containing information about investment risks , related to a specific antique labor. All of this generally creates a more secure environment for the antiques market in the first place for the novice investor - at the level of which in помине was not even five years ago. The problem economy and import-export and charging high fees , which ultimately hurts the pockets of Bill Russian buyers, is also gradually overcome: preparing bills and regulations that significantly simplify the procedures. The boom in Russian art market has caused a number of new, though it is foreseeable problems, in particular the shortage of masterpieces available in the market, that is, works of the highest investment grade. Such work «washed out» in the first place, because they often are purchased not for resale and for a long time into private collections. At such a deficit market meets new investment ideas and new names.

Prospects antique market

outlook for the arts in Russia, including the antique can be summarized as the word «growth»: the growth of the market, increase quality of counterparties, growth opportunities and cost growth. «Boom», the increasing number of buyers and the concomitant reduction of the masterpieces in the art market will inevitably force the market to seek new growth points, new investment ideas. There was that in an active market turnover introduce new names. On the antique market is Erte, Marevna , Pozhedaev - artists, has long been presented at auction, but in recent years demonstrate some particularly an enviable price dynamics, while maintaining a relatively high level of accessibility. For example, graphics of Roman Tyrtova (Erte) just in front rose from 700 to 5 000 dollars. Paintings of Mary Vorobyeva-Stebelskoy sold in the range of 40-80 thousand dollars. And it is kubisticheskaya schedule is about 10 thousand dollars. By the way, antique schedule today is the increased interest of investors: the small antiques standard money (up to 10 thousand dollars) you can buy sheets of (usually the later work), the most famous Russian artists - Mstislav Dobuzhinsky , , Alexandra Benoit and several others.

referred to the market of the sixties (which, too, will soon come into the antique area, will be laid as soon as 50 years) from the investment point of view is still «Klondike». There are a number of undervalued artists who were among the first names, prices of which are bound to be to demonstrate significant growth. Among the specific names of the representatives of «other art», the potential price for the products of which are still far from realization, it is worth noting Vladimir Vladimir Yankylevsky , Yevgenia Rukhin , Nicholas Vechtomova , Peter Belenkov , Unknown . Recall that even work Dmitry Dmitry Krasnopevtseva , which many experts believe the number one artist in the Russian informal arts are in the range of 200-400 thousand dollars, that does not correspond to the value of the artist in the history of art - the price should be higher. In general, over the next two years, experts predict for the first names of the sixties movement of price levels of the current range of 20-300 thousand dollars in the range of about one million dollars.

The last two years have marked a trend in the market of art. More and more people become secured in the investment and collection for artists of world significance - the French Impressionists (Monet, Renoir, Sisley, Manet, Degas, etc.), the German and Austrian expressionists (Pehshteyn, Kirchner, Schiele, Dix and others), in lesser extent, of American modernists, as well as works by contemporary Western artists. From the point of view of investment efficiency investments in the work of these artists are giving way to investment in works of Russian art. If the works of the world's first names annually expensive by about 10-15 per cent, the work of Russian artists are able to 50-100 per cent per annum.

Alexander Soloviev

Links:

record for Russian art at Christie's June 24, 2008

Top 12 most expensive paintings of Russian artists

art. The authors of the ten most expensive paintings in the world

Threats to Russian art market

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