Art Investment

A segment of Russian art in the first half. The individual results

Ended interesting, eventful first half. From the perspective of the art market was not all negative, with no new disturbing trends. At least nothing that we did not know before, was not found.

For six months the price index of Russian art ARTIMX-RUS has added 285 points. Formally, the conditional $ 1,000 invested in the Russian segment of the art in January, the beginning of July 1285 turned into dollars. This, remember, a kind of "average temperature for the hospital," which takes into account the auction results on the foreign and domestic auctions.

And the activity of the Russian auctions, it must be said has already dazzled the eyes: this segment shows a very rapid growth. Schedule of trading is so tight that Babulin to Constantine, who first began attending auctions, write reviews, and first time to easily go everywhere, over the past six months, joined by three members of AI. Otherwise, do not make it. Appear in the auction field and new players: one - the separation of former teams, ie, people with experience in the auction, others - with no experience of trading, but the art market was not novice. In particular, only for these few months, spent the first trading "House of antique books in Nikitsky" and "House of graphics DA Rovinsky." About the auction market and old-timers say no: auctions are one after the other.

And now for something these regular auctions positive trend is particularly noticeable. If at the end of last year and the beginning of a normal outcome for Moscow's regular auction was about 30 percent of lots sold (for the auction world average is 68 per cent), then by mid-year the percentage of lots sold on the domestic Russian auctions began to grow, rushing into the zone 40 -50 percent.

is gratifying to note and record the appearance of the domestic auction market, but their was not very long ago. In particular, in June 2012 at the Moscow auction "Russian enamel," with a large excess of the preliminary assessment has been sold Still Life Igor Igor Grabar "Pears on red table cloth" in 1921. Over 16 steps buyers from 13 million rubles have reached 36 million - a record auction for Russia, for a local auction site. Interestingly, in 2008, this still life was bought in Copenhagen for 121,000 dollars (about 3 million). Just a dream investor: the price of the product for 4 years has grown by 12 times and the seller Grabar earned a million dollars.

By the way, on the same auction for the same 36 million rubles was sold and the picture Feshin . For a very long time Feshin is not a record. But for the auction market of the Russian figure is very noticeable. Moreover, the fight was beautiful: from 15 million to 36 million rubles, with the 13 steps.

For comparison: last year, most expensive product, sold at auctions in Russia , was the "Goddess of Water» Konstantin Konstantin Makovsky : on the auction "Russian Seasons" for it gave 29.7 million Rubles. However, keep in mind, then the ruble exchange rate was much higher.

In the first half of the Russian auction has been updated a lot of personal records for the creation of specific artists. In particular, the "Russian enamel" was registered the world record for the Faith Rokhlina (14 million), and on the "Magnum Arce» - record for Arcadia Rylova . In general, these situations are no longer a rarity, which is good.

few personal records for Russian artists were put on London's "Russian week» in May. And this fact should not be underestimated, because "the Russian trading" is getting weaker. Catalogs are becoming less convincing, and the lack of masterpieces with every auction there is a more acute. However, the proportion of lots sold was close to 65-70 percent, although things are often left without a fight, for the lower estimate. However, observers note that, for all claims to the directories on separate lots sprang up a very tough competition. For example, at Christie's auction was marked by struggle for work Kiprensky : from the start in the 150,000 pounds of "Portrait of M. Golitsyn "(lot 20) went up to the final 600,000. At the same auction in a desperate struggle Figure Leon Bakst «Yellow Sultana" (Lot 42) with an estimate of 350 - 450,000 pounds were sold for 800,000. Top lot of the "Russian Sotheby's," was the painting "Still Life (Bells)» Natalia Goncharova , sold for 2 95 million pounds (just below the lower estimate). For a long time not Goncharova's record, but the figure is visible. At Christie's was also set a personal record for the auction of works (majolica "King of the sea," sold for 229 000 pounds), as well as updated personal records for a minimum of three Russian artists.

Experts also noted the high interest of buyers in the sixties: of Dmitry Krasnopevtseva , Vladimir Weisberg and Oleg Tselkova on the same Christie's left with a twofold excess of the estimate. In general, Russian May Day week did not reveal new trends and set sverhrekordov, as had happened before. But at the same time as the old-timers say, the buyers went away happy.

Artists of the Russian art of the orbit showed outstanding results in the international arena. And even in the first half of 2012 there was only one change in our rating most expensive paintings of Russian artists , but what! Updated the first place. Its still holds Mark Mark Rothko , our Marcus Y. Rothkowitz, but with the cost of the work of 86.9 million dollars . So much in view of the commission paid in May at Christie's for more than six-foot canvas 1961 "Orange, red, black." Previously, the thing belonged to a Pennsylvania philanthropist David Pincus, which acquired it in the Marlborough Gallery, and then for a long time leased to the Philadelphia Art Museum. Painting "Orange, Red, Yellow" was not only the most expensive work of the artist of Russian origin, but also the most expensive piece of postwar and contemporary art sold at public auction.

Mark Rothko
Orange, red and yellow.
1961 Oil on canvas. 236,2 x 206,4
Christie's. 08/05/2012. Lot 20
Estimate: 35-45 million dollars
Price: 86.9 million
A new record for Russian art
Source: christies.com

Among the interesting situations with artists of the orbit of Russian art in the first half remembered the case of the Chaim Soutine . In May, at Sotheby's his "messenger of the Maxim" was sold for 9.37 million dollars. Not great case, but this thing is well known to lovers of Russian art, because in 2004, "The messenger of the Maxim" created a sensation. Eight years ago he bought, as it was considered a mad money - $ 6 million. It turns out, the owner made about 3 million. But expectations were even higher. The upper estimate for this thing set at 15 million dollars.

Dynamics of price index of Russian art ARTIMX-RUS. growth in the first half - 285 points Dynamics of price index of Russian art ARTIMX-RUS. The growth in the first half - 285 points

If you are not the most important, the most talked-about event of the Russian art market in the first half was the statement by the three leading galleries of" reformatting » - rejection of the classic commercial format with the transition to less binding status of nonprofit institutions. Gallery XL, Aidan and "M & J Gelman," gave a press conference at which he spoke about the reasons for reformatting. Among other things, sounded, and the version with the mass departure of collectors that critically affected the sales of contemporary art. In this candid perspective, the problem of the market no earlier modern art has not been publicly raised. And if the problem is, it must extend to the antique market, but how else? Therefore conducted its own survey ARTinvestment.RU gallery owners (mostly representatives of the antique segment) on the topic of how many of the leaves of their customers. Responses confirmed that smoke without fire. All respondents agreed that a number of collectors have left. But it is clear from the responses that we are not talking about a critical amount. Most gallery owners also reported that she had left nothing else to buy. Some made it clear that this category has ceased to fly well before departure. Another thing - collectors who live in two houses that retain business in Russia. They continue to buy. Also in the survey, almost all gallery owners noted the emergence of new buyers, and some - the return of old, who did not buy for several years. So, despite the fact that the information is confirmed, it probably is a compensated process. Check out the number of collectors is probably more painful is perceived as a confirmation of the negative changes in social climate. It's no secret that selling strongly influences the mood of consumers: positive, predictability and confidence in the future. And the events of the last six months, to confess, this did not have.

Well, the beginning of a new business ahead of the season. For many of our galleries will open earlier in August. At the end of the summer holiday season begins with foreigners and Russian art for many - part of the cultural program of the visit to Moscow. All those involved in Russian art, ARTinvestment.RU wants successful sales.

Finally, we note a few words, what will be remembered in the first half of the segment of world art.

C beginning in 2012 the world price index ARTIMX added 115 points ($ 1,000 contingent attached to art, to the end of June, became in 1115 dollars), while the index of consumer activity ARTIMXba grew up close to the mark of 70 points. That is nearly 70 percent of lots found buyers at its auctions. As we remember, 2011 was the most successful in the history of the art market, but in the first half of 2012 made a good start already so that the year has a chance to once again be a record.

Already the first half set a new world record price for a product listed on the auction. In May, Sotheby's cardboard Edvard Munch as a result of an intense struggle has been sold for nearly $ 120 million . For the first time in many years, managed to shift from first years of the price leader Pablo Picasso. In mid-summer, Wall Street Journal called the name of the purchaser a record of cardboard. He became an American Leon Black, head of the large investment corporation. There are four versions of "Scream", but this is the only work that is in private hands.

EDVARD Edvard Munch
Creek. 1895
cardboard bed. 79 x 59
Sotheby's. 05/02/2012. Lot 20
Estimate: on-demand
Result: 119,922,500 dollars
The most expensive product in the history of auction sales

Even more impressive sum of $ 250 million, which is press calls as the price of the work of Paul Cezanne's "Card Players» . Maybe 250 million, maybe more. It was not an auction, and closed a private transaction, so there is no official information, and even the exact date is unknown its conclusion. According to some sources, the sale took place last year, but in any case, it has become aware of just at the beginning of this year. The buyer is the royal family of Qatar. 250 million - is still the highest price ever paid for a work of art. Qatar is actively engaged in the construction of the museum of the empire, and a masterpiece of post-impressionism in the future certainly will attract tourists and international specialists.

Paul Cezanne
Players cards. Around 1892-1895
Oil on canvas. 97 × 130
Source: vanityfair.com

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