Christie's survived the worst auction of impressionist in 10 years
ARTinvestment.RU   24 июня 2016

The English in this bad time was sold to the French. The failure of the auction of impressionist and modern Christie's connects with the alarm on voting for Brexit

22 June, on the eve of a referendum in the UK to end the country's membership in the EU, took place in London the evening auction of impressionist and modern Christie's recognized by experts of the weakest in the last 10 years. Total revenues amounted to £25.6 million (of$37.8 million) — 63% of the average total estimate (£32.8 million (48.7 per million). On lots sold, only 63 % — 21 of the 33 lots. Compared to the same Christie's auction in June's last year, revenue fell 64 %.

the Results of auctions, many people tend to associate with the instability of the pound against the background of the referendum and in General with Brexit (Britain Exit and words). "There are a lot of assumptions about what will lead us Brexit", — commented the President of Christie's Pilkkanen Jussi (Jussi Pylkkanen), personally conducted the auction.

However, not all market players agree it's all about the Brexit. Well, not only in the referendum case. Sector of the Impressionists and modernists recent years as a whole is on the decline. Some masterpieces, of course, exceed the estimate and hit record, but "the average temperature in the hospital" lower than before. Customers are less likely to buy, and inflated estimate this certainly does not help. Few really good suggestions. Many works do not have time to rest up, and put them again. Another peculiar Christie's trend —, all the forces rush to the curatorial preparation of the auctions, combining in the same directory as the strongest stuff from different periods (from impressionist and modern to post-war and contemporary art). The next auction devoted to the 250-летию Christie's, will be held June 30. Traditional auction of impressionist and modern remain, so to speak, to fend for themselves. And it turns what you get.

At the auction on 22 June, three valuable lots (one of Rene Magritte and Picasso) were withdrawn just before the auction. Two other works by Picasso (one of them — image Musketeers 1967 with an estimate of £2.8 to 4.8 million) of buyers have not found. Second unsold Picasso six years ago, was bought in Paris for €600 750 ($680 000). Now its just appreciated£480 000 ($540 000).

the landscape of "Argenteuil" by Claude Monet, 1872, with a preliminary estimate of £4.5 to 6.5 million was not made a single bet. While Christie's had guaranteed deliverer of the sale of this work at the stipulated minimum price, i.e. the guarantee of the auction house will have to compensate out of pocket. "The market seems to prefer Monet's work after 1900, — commented on the art-консультант Thomas seydoux. — People need large, colorful paintings".

On this background looks prosperous sale of "portrait of Madame Hanka Zborovska" by Amedeo Modigliani, 1917, for £8.3 million (top-лот bidding). Traded for a painting not less than four candidates. The model for the portrait is the wife of the patron of Modigliani Leopold Zborowski. Estimate: £5-7 million we will Remind that the day before, June 21, at Sotheby's another portrait Modigliani — "Jeanne hebuterne (with a scarf)" — went for £38.5 million ($56.6 million).

Landscape Pierre-Огюста Renoir "Rocks in l'estaque" (1882) achieved a price of £1.1 million, with an upper estimeyte £500 thousand Another work of Renoir — "Gabriel, occupied with darning" (1908) — was bought last year in Japan for £1.5 million With the same rating it was put up now, but willing to buy it was not.

the Material was prepared by Maria Onuchina, AI

Sources: bloomberg.com, artmarketmonitor.com, artnet.com, artinvestment.ru