Art Investment

In the wake of "Russian Week"

Honestly, for the last ten years, the first time I saw such a high interest in the results of Russian trading in London by the media, the more federal. Even the TV channel "Russia-24" in the wake of Russian week prepared a special big analytical review , to say nothing of the rest. The reason? Maybe missing the art? Anything can happen. But I've got one more plausible guess. Was evident that soon after the end of trading zines were full of catchy headlines like «Roerich's painting set a record for the Russian Artists" or "Record prices for Russian artist painting now belongs to the" Proceedings of the Virgin "by Nicholas Roerich» . This, of course, nonsense. in fact is now only seventh place in the list of the most expensive works of Russian artists . Probably not understood and colleagues misread the other a correct conclusion: the work of the Roerich became the most expensive painting by Russian artist. That's only in the original had in mind - the most expensive for this particular Russian painter, and not among the Russian artists. Or, "the most expensive in the Russian Trading" - it does not matter. Because the "sensation" has been unstoppable - Reckless information about the "record for Russian artists' instantly spread through the web.

However, fine. Especially as Nicholas Roerich is not a sin to praise. His "Proceedings of the Virgin" (7.9 million pounds) now rightfully occupy seventh place in the Russian top-25 - between Marc Chagall < /a> and Feshin . The witnesses called by the quality of this work is the most significant work of the Roerich, who was at the auction in the last decade. No wonder, according to witnesses, estimate at this Roerich copied twice. Since the initial 600-700 thousand pounds was raised to 1-1.5 million pounds. Then, realizing that this is a low estimate, rewrote the "price tag" on 1,5-2 million pounds.


Nicholas Roerich
Madonna Laboris (Proceedings of the Mother of God). 1931
Tempera on canvas. 84 x 124
Estimate: 2,5-3,5 million pounds
Result: 7.9 million pounds
Bonhams. 05.06.2013. Lot 63

Russian week we have the duty and the second record for the national art. 12th place in the same ranking of the most expensive paintings of Russian artists on the end of June, took the still life Ilya Ivanovich Mashkov , sold for 4.76 million pounds. Same thing with the curious overtones. They say the former owner of a Dutch still life once bought a bright cap for crumbs. For foreigners, our Mashkov is not the first magnitude. They are forgivable. But for us - the figure. Also presented is the work of the legendary exhibition "Jack of Diamonds" in 1910. Therefore the Dutch as many may argue about the mysterious Russian soul, and in the meantime our dispersed Mashkov to strong prices for Impressionist.


Ilya Mashkov Still-life with fruit. 1910
Oil on canvas. 103 x 133,8
Estimate: 1-1,5 million pounds
Result: 4.76 million pounds
Christie's. 03/06/2013. Lot 66

It should be noted that in 2013, we rewrite our rating of Russian art for the third time. Third - because in May took fifth film "Little Pastry» Chaim Chaim Soutine with resounding result in $ 18 million . So the crisis of crisis, and we have to close mid-year, has laid down three records.

By the way, the density of outstanding results. You are probably very surprised to learn what year was the most fruitful for auction records for Russian art. Do you think that the pre-crisis 2008 has? Or bold 2007 is the? And here and there. In the top-25 Russian Art maximum number of records have been delivered in the past, in 2012 - as much as eight pieces. In 2011, it was established a little less - seven records. And in the optimal economic situation 2007 and 2008 - four records in each. What does this mean? The fact that our long-intuitive conclusion: general economic conditions may continue to deteriorate, but the price of the masterpieces at the same time continue to grow - is the actual proof. The same conclusion can be read, and vice versa: the emergence of new price records in the art market is not direct evidence of improvement of the general economic situation.

But let us return to the evaluation of tenders. Which year are opinions that the bidding each time becoming thinner. The same write members of our forum in London . The process went on down even since 2008, and even earlier. Since there is a tendency to sell masterpieces of Russian avant-garde in other, more prestigious international trade - through the modernists. That is Goncharova, Natalia S. can be sold on the Russian bid, but rather will reserve exclusive Goncharov on Impressionist and Modern Art. Well, in general, strong Russian things every year is getting smaller. In general, I would not even be surprised if in the medium term Russian week and does dissolve in the other and disappear as an independent specialized events. Ever, it is possible. In this case, in fairness it should be noted that even today Russian auction Sotheby's and Christie's collected about 10 million pounds. This compares with a total annual turnover of all auction houses in Moscow and St. Petersburg. This is the case not to have the desire to go to the condescending tone.

That the problem of the market today is on the side of supply, not demand, illustrates another case in point. How to tell the AI ​​eyewitnesses to the level of about 5 million pounds for the Roerich traded about 5 people in the hall and 5 phones. That is, 10 people were ready to spend 50 million pounds, the money could join in the art market, if it were at that. Roerich was sold as a result of 7.9 million, and another 42 million, it turns out, were left at their owners. And this is not an isolated example. It turns out that money is ready to fight for masterpieces complete. Just Give masterpieces.

What else noticed our forum users in London? The fact that quite a lot of secondary works are not sold in the hall. Probably because of excessive rates. Because after bidding them willingly left postauktsionnye application at a discounted price. On some subjects even turn arose from the public. The likely explanation is that these rates do dealers who replenish their stocks in anticipation of better market conditions. In general, we do not notice a decrease in percent of sales - the main auction showed the average 60-70%of the market for care.


Yuri Annenkov
Portrait of Anna Akhmatova. 1921
Paper, gouache, pencil, colored pencils
50,3 x 32,6
Sotheby's. 04/06/2013. Lot 194
Estimate: 150-200 thousand pounds
Result: 902.5 thousand pounds

And probably the last thing that should be noted - the result of a show for a picture , his portrait of Anna Akhmatova, who was sold for 902,000 pounds - more expensive than a million dollars. On sale this small gouache savvy people perceive growing trend - the willingness to pay much money for a very high quality things on paper. Previously, it was not.

Vladimir Bogdanov, AI


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