Art Investment

Iranian art boom

Over the past two years, Dubai has approved its status as one of the major centers of world art market. In 2006, there started a bidding auction house Christie's, and 2008-m - Bonhams. Both houses put on the sale of works by contemporary artists from Tunisia, Egypt, Morocco, Lebanon. The high demand for their work by a favorable financial situation, which gives residents of the Near and Middle East opportunities for the acquisition of works of their compatriots. The most popular among local collectors enjoy the work of artists from Iran.

Among the most well-known Iranian artists include sculptor Parviz Tanavoli (Parviz Tanavoli) and artist Farhad Moshiri (Farhad Moshiri). In March this year, the picture 45-year-old Moshiri «Love» ( "Eshgh") was sold at auction Bonhams in Dubai for a million dollars, becoming the first work of contemporary artists from Iran, which lasted for the same amount. And all through the month of April, Parviz Tanavoli broke that record and became the author of the most expensive works of Iranian artists living today: his bronze sculpture dvuhmetrovaya «The Wall (Oh Persepolis)» ( "The Wall (Oh Persepolis)") brought to Christie 's in Dubai to $ 2.84 million After this event, 71-year-old Tanavoli woke up famous. He began with the end call wishing to buy his work, and Tanavoli even had a few days to turn off the phone. In one interview with the sculptor said: «My work falling into the hands of brokers. They buy and resell the them at a higher price. They say that acquiring the sculpture itself, and actually make from this business ».

In fact, the works of masters of the Middle East - «plum» for fans to cash in on the arts, because in the last year prices have gone up five times. They become attractive target for investment and provide an alternative to traditional investment instruments such as investments in real estate and gold. More and more investors are interested in Iranian art, and many young artists deliberately raise the prices of their work, hoping to earn more money. The art is rapidly becoming a business, and like it is not all - remember the words of Parviz Tanavoli. While, on the other hand, output of the Iranian art market allows many really good young authors not only to fame, but also to obtain decent work for their money. Among the young and talented it can be noted Shirin Aliabadi (Shirin Aliabadi) and Gadirian Shadi (Shadi Ghadirian) - two women photographers, whose works reflect the contradictions faced by women in contemporary Iran. For example, photos Shadi Gadirian performed in the style of the XIX century, it is possible to see women in traditional Muslim clothing, but with modern subjects, such as a vacuum cleaner. One of her works, «Stereo» ( "Stereo"), was sold in 2007 at London's Sotheby's for 18 thousand U.S.

material produced Catherine Onuchin

Sources: artprice.com ; bloomberg.com ; artinvestment.ru


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