The market has been a critical, when the crisis, as Bulgakov's devastation, is in the head. But - survived the collapse did not happen, and, most importantly, the mood of the participants had improved

Past auction market participants waited for the arts, if not as a «moment of truth», then as an event to be extremely responsible and exemplary. What art should stand on a sprawling problems of overseas economies, so far known in the theory, known to the Western experience, but in battle mode, in practice, this has not yet taken place. If you remember, the art market has become such an extent and degree of civilization of relatively recent: in 1998, he was incomparably smaller, and since then the economy in any particular case is not AMD. So with the global crisis of our sellers and buyers are facing for the first time, so there is no relevant experience, and the fear of the eyes are great.

outstanding results of the Russian did not wait a week. Auction houses are not sgovarivayas presented relatively weak collection, and the proposed price benchmarks (estimeyty) experienced collectors considered reasonable high. Organizers auctions justify a situation with high estimeytami that the list of lots created in the summer and, accordingly, the negotiations with the sellers were in a much more favorable conditions. It was only later became aware that the auctioneer tried to respond to the situation: in contact with the owners put things, and invites them to lower the reserve price (at least enough to conclude a deal), to increase the chances of lots of care.

Now you can breathe out. The market survived the collapse did not happen, and, most importantly, the mood of the participants had improved markedly. But by the beginning of the trading, the twentieth of November the situation was and remains: high estimeyty, pass a selection of lots and nervous conditions. Skeptics have already talked about that in this case, you can rely on twenty percent of sales. Optimists also dreamed that lasted eighty per cent of lots - even at the lower estimeytam or even on the reserve price. In the end, turned out somewhere in the middle: it was sold at an average of about forty per cent of lots, without records, and the sober business calculations. A number of above average quality sold at almost pre-crisis prices, usually within estimeyta or higher - as it should be on the mind, not in a blind consumer razhe. The market has been a critical, when the crisis, as Bulgakov's devastation, is in the head. It was important psychological moment, that does not prevail upadnicheskie mood that does not appear «prophecies» that the auctions have failed, all bad, hit the Earth on the celestial axis, so all you need to climb into their shells, and there perezhidat crisis. When cost, easy to talk to. And so began, that it is better not to remember.

The first was Bonhams, November 24 , immediately auction-gray with predictable outcomes. A lot of lots left behind, probably because of the revaluation. But there were surprises. Thus, a tiny figure early Vasily Kandinsky «for a walk» (29 x 29) was sold for 120 thousand pounds. And vice versa, large expressive oil «Winter: collecting firewood» Natalia Goncharova (to date the author's most expensive work of women artists) created on the grounds of the most valuable period of 1910-ies, was sold for 150 thousand pounds - considerably lower than ARTinvestment.RU (it amounted to 350 thousand pounds). Among the striking results - sales of 2.35-meter panels Oleg Tselkova «Mnogogolovy character with a spoon». Estimeyt of 120-180 thousand pounds, the forecast AI - 150 thousand pounds. And who would have thought that as a result of giant canvas will be sold for 45,6 thousand pounds - more than three times cheaper than the lower estimeyta. At the auctions so little happens: the reserve price set by the seller, do not allow to reach such a fantasy. From our list of things predictably was sold painting «The young women at the source» avant-gardist, associates Yavlenskogo and Kandinsky, Vladimir Бехтеева . Price from commissions amounted to 133.25 thousand pounds. AI predicted 130 thousand pounds, to guess. In general, the first auction resulted in mixed feelings in the pattern which prevailed amazement.

Fortunately, the following Sotheby's produced a sobering effect. Let sold again, about half of lots, but were the results. So evening at Sotheby's auction November 24 strong canvas Co-founder «Jack of Diamonds» Petr Petrovich Konchalovsky «Flowers for pink »with estimeyte 0,8-1,2 million pounds were sold for 1026 million pounds - higher than the forecast ARTinvestment.RU. Analysts noted this site and praised, but the predicted result of 800 thousand pounds. But to the experimental work of atypical Aristarchus Lentulov «Bathers» attitude in AI was immediately skeptical - the forecast was «not sold». And now for you: substantial paid 937 thousand pounds for the «German expressionism» one of the main «Knave of Diamonds». Equally surprising was the result for undistinguished «Naked» Mikhail Fedorovich Larionov . It sold for 1.38 million pounds, while predicting that the pictorial «star» AI is not even mentioned. Tempera «Order» Nicholas Roerich has collected more modest cashier - 1.05 million pounds, but she remembered the struggle: the price the buyer two-soldier catch up with estimeyta 250-350 thousand pounds - as it is not polite in relation to the financial crisis.

Sotheby's the following day, November 25 , has shown the expected results, the new owners acquired about half of lots. Decisions have been suspended, but with the realization that the market is. Surprisingly, not very well sell of the Sixties. Only the best proposal is the owners. Thus, «Still life with bottles» (1969) Dmitry Krasnopevtseva was sold for 85.25 pounds, with thousands of estimeyte 40-60 thousand pounds ( AI predicted the 70 thousand pounds). «Ceiling» picture «Rotation» Oleg V. Vasilyev has been sold for thousands of pounds 97.25, is within estimeyta 80-120 thousand pounds ( AI in the projections feared that such a thing to connoisseur, will take over 75 thousand pounds or remain not sold). Generally, marked not sold on the day of the auction left the usually very popular artists - and Вейсберга , and Nemukhin . AI in general, and predicted, but as it would be wrong. How, for example, we were mistaken in the case of a «Man with lemon» (1960's), Oleg Tselkova. We have predicted the result of lower estimeyta or «not sold». And in fact ignored the price of the painting «fundamental» (early Tselkov did not then), frisky estimeyt surpassed in the 50-70 thousand pounds and recorded at around 109.25 thousand pounds.

26 November the reporting period due to Christie's . In the first part, do not buy a picture Malevitch , which raised the forecast of AI 400 thousand pounds, drawing attention to a number of strangenesses. A «terrain» avant-gardist Klyuna , despite the absence of perfect provenansa, found a buyer for the 67 thousand pounds (AI predicted 60 thousand pounds or « not sold »). But like AI canvas «Gates Tmutarakani» from «The Tale of Tsar Saltan» surpassed even optimistic expectations. Forecast AI was 120 thousand pounds, and bright tempera went for 181.25 thousand pounds. Generally, Roerich on «Russian week» raskupili were sold almost all the good work - that you and the crisis. On the same day at the second session of bidding Christie's life and do have established: sales have become more frequent, although buyers are not spoiled crowbars prices. For a very modest amount for such work has been sold 1,75-meter-long canvas «In the womb Chronos» (mid 1980's) brush Ernst Neizvestny . The buyer away thousands of pounds 18.75, while, according to AI, a reasonable price was up 60 thousand pounds. Well, happens. An effective «Two tambourine» other Sixties, Yevgenia Rukhin , went for 51 thousand pounds (AI predicted near 40 thousand pounds). Beneficial bought «rudd» Dmitry Plavinsky . Organizers have put it in a directory with estimeytom 7-9 thousand pounds, but AI considered that do not mind and 35 thousand. As a result, a successful buyer bought the fish for 20 thousand pounds. In accordance with the expectations of AI has been sold to fashion work Oleg Dou . His photographic «Mickey» gained 6.8 per thousand pounds (forecast AI - 5 thousand pounds). But individual buyers do not find the classics. And the problem is not in the classics, and in specific activities. Not sold, for example, «Still Life with a samovar and Tulips» Zinaida Serebryakova - just not the issue. November 26, became the occasion for collectors of Abram Arkhipov . His positive peasant were hot cakes. That day was even a record for the artist. AI seemed the most attractive picture «Sitting farmer». Estimated at 100-150 thousand pounds, she was sold for the unthinkable price - 241.25 thousand pounds. Turned out that the AI with a projection of 110 thousand pounds of good fluff. But such results - the question of emotions, but they are not predictable.

Statistics auction of Russian Week

As a result of Russian Week (24-28 November 2008) as calculated by the method ARTinvestment.RU consolidated price index of Russian art ARTIMX-RUS grew by 3.3%, reaching values of 2661, para.

November 24 2008

Bonhams. The Russian Sale. About 1 million pounds. Sold 82 lots out of 244 = 33%
Sotheby's. Russian Art Evening. 14.155 million pounds. Sold 32 lots of 55 = 58%
Christie's. Russian Works of Art. 2.85 million pounds. Sold 143 lots.

November 25, 2008

Sotheby's. Russian Paintings. 5.9 million pounds. Sold 125 lots of 291 = 43%
MacDougall's. Russian Art Evening Sale. 5 million pounds. Sold 16 lots of 62 = 26%

26 November 2008

Sotheby's. Russian Works of Art, Faberge and Icons. 3.23 million pounds. Sold 127 lots of 216 = 59%
Sotheby's. Continental and Russian Books and Manuscripts, including Science and Medicine. 0.574 million pounds. Sold 76 lots out of 138 = 55%
Christie's. Russian Pictures Part I. 4.03 million pounds. Sold 11 lots of 22 = 50%
Shristie's. Russian Pictures incl. Post-War and Contemporary Art Part II. 3.89 million pounds. Sold 106 lots of 180 = 59%
MacDougall's. Post War & Contemporary Russian Art Sale. 1.1 million pounds. Sold 39 lots out of 200 = 20%

November 27 2008

Christie's. Russian Pictures, Icons and Works of Art. 0.81 million pounds. Sold 214 lots of 353 = 61%
MacDougall's. XIX and XX Century Russian Art Sale. 2 million pounds. Sold 62 lots out of 321 = 19%

Total : sales «Russian week» was about 44.45 million pounds. Sold about 43% of lots.

A series of three auctions MacDougall's , covering the «Russian week», concluded with the final result in 8.1 million pounds. The figure is weaker than last time, but in one kalashnom among the leaders of the market, Christie's and Sotheby's. It is not the first time. Organizer MacDougall's particularly strong criticism for excessive estimeyty long before bidding. It really became an obstacle in the career of many lots. Even among the first names. Not sold remained dedicated AI work, for example, Oscar Yakovlevich Rabin , Seeds Faibisovich , Ülo Sooster was sold for 7.76 a thousand pounds (AI predicted 10 thousand lb). A spectacular and rare «shell turtle with the image of the pagan god» brush Dmitry Plavinsky was sold for 59.75 pounds with the expectations of thousands of AI in the region of 50 thousand pounds. The most expensive lot MacDougall's widely advertised album of 122 drawings Konstantin Andreevich Somov , sold whole for £ 1.17 million. Compete in price with this album could perhaps painting «The Kremlin in the rays of light» Isaac Ilich Levitan , sold for 1.09 million pounds.

Auctions took place, the question remains. What's next? How to live? Immediate plans are known in principle: the organizers promise to trades that are already in Russian auctions to try to reduce estimeyty about twenty percent. Step on the one hand, symbolic, nothing to do with the sale of not having: «hammer price» may greatly exceed estimeyt - the market, you know. But on the other hand, the decline estimeytov - an invitation to a wider range of participants, signal a new level of affordability, a measure that promotes the activity of participants. How bad? Among the positive signals are the good mood of sellers, dealers and collectors. What say, Bonhams have poschekotal nerves, but after the first Sotheby's are noticeably poveseleli. After all, even the most ornate chain of reasoning leads to banality: the crisis ... well, how much it will last ... year, two? And art forever.

Review prepared by Vladimir Bogdanov, ARTinvestment.RU