Art Investment

Russian art market. Some of the opening at the tip of the pen

In fact, it is impossible to verify, it is easy to believe. For example, it is not known from which the report is the phrase "The volume of the antique market in Russia, according to experts, is about 700 million - $ 1 billion a year." Internet research indicates that perhaps that this statement came a few years ago. Yes, so fond, that since then roams from the publications. Billion - is impressive. Digital solid. However, why not check out?

Admittedly, that does certainly not to measure the entire market. Those of gallery sales are not made public, private transactions are often "gray" in nature. The only segment that can estimate how much-at least objectively - it is an auction. From it and start.

When measurements auction market ARTinvestment.RU relied on its own database of auction results - the largest segment of Russian art. It results in the fall of painting, drawing, lottery schedule (only signed and /or numbered), sculpture, photographs of the author. AI does not keep statistics on used books, autographs, awards and medals, icons, unnumbered and unsigned lottery graphics, furniture, carpets, etc., which together make up an impressive share of the goods on the auction market. However, even this set of basic knowledge about the realities of the auction is enough to make a number of openings at the tip of the pen. More precisely, in the table "Excel».

remains to mention that, for simplicity, we also decided to ignore the division of the market for antique and the modern part. Today we can say that almost the entire segment of the auction antiques. Regardless of the authors' sympathies, the share of modern art in the structure of Russian trade, unfortunately, is so small that it can not exert a significant influence on the statistical result.

Well, now it's time to put the first questions.

How much we can estimate the annual auction of Russian art market in Russia and abroad?

According to Statistics of AI, the amount of auction sales in the segment of Russian art (in Russia and abroad) in 2011 amounted to almost 15.5 thousand works, including sold and unsold. A box office for the year totaled $ 422 million. A year earlier, sales of Russian art auction market amounted to 526 million dollars (if that year has not been generous to individual records), and was put up for sale 14.6 thousand lots, ie, the amount of work is comparable to two years. It is important to understand that in the final auction statistics take into account all together - from the inexpensive to the multi-million dollar lottery graphics results , , etc. And each of these "heavyweights", within the orbit of Russian art, is potentially capable of only one sales add 5-10 percent to the volume of the market.

As the volume of Russian auction market relates to the world?

According to the analytical resource artprice.com, the overall global auction sales in 2011 amounted to 11.5 billion dollars. Including China, America, Europe, Russia - all. It turns out that the annual auction of Russian art market (including the Russian and foreign sales) is about 3.6%of the world.

What are the annual box office auctions in Moscow and St. Petersburg ?

Following the 2011 auction in Moscow and St. Petersburg have sold about 5000 paintings and drawings totaling more than $ 13 million. I recall that in my stats AI does not include a number of positions - and so orders, despite the fact that their markets are very active and capacious, swirling out there a lot of money and the value of individual lots can reach tens of millions of rubles.

Who of Russian artists belong to the largest number of works sold in 2011?

Offhand, perhaps, many will decide that the record was David Burliuk . And I must say, not much will be mistaken. In fact, ratings on the number of proposed works at auctions in 2011, headed, of course, . With a huge margin. The phenomenon of international scale, Chagall, and in the world rankings for auction turnover is almost always on the top lines. A significant proportion of this turnover takes its numerous Draw graphics, and this result is predictable. Frankly, it was a surprise to see one of the leaders in the number of works offered for sale Alexandre Benois (205 lots). But in actual fact, this statistic is just a very prosaic explanation. The fact that it was in 2011 the sale was a large collection of works by Benoit Sotheby's. That session suddenly went down in history - have been sold all 127 lots (a very rare case in the practice of trading), and spent her Lord Poltimore was solemnly handed white gloves - a historic symbol of gratitude to the auctioneer for the 100%result.

In general, traditionally in the top rating of the best-selling authors from year to year, dominated by Russian artists abroad - "Count abstract» Lanskoy Andrew , «Sagittarius polutoraglazy» David Burliuk , today modern abstractionist , Moses Kisling and the" Russian impressionist » . There are in the top twenty and our sixties - and Anatoly Zverev . In the latter case it is appropriate to remember that quantitative statistics on the shaft and is considered to be in it (in contrast to calculate the index ARTIMX) is not considered genuine works. So do not be surprising if an appreciable part of the 126 sold last year, lots Zvereva will be quite red lights deserve a high investment risk.

It would seem, why bother to consider the turnover in lots? Many paintings by the artist at auction - it is really good? Let us explain. The fact that quantitative sales are important to assess the market status of the artist - its liquidity. This is only an outsider it seems obvious that the smaller works in the market, the higher the investment prospects (say, the price of goods is determined by its rarity). And the art market is not working very well. Market it is important that a "working material" - that was what was selling a large audience of collectors is to buy a consonant. If the year appears at auction for a work of a particular artist, it tends to work in a minus in terms of investment potential and price forecasting. If it is, of course, not unique figure rank Malevich, whose works appear on the market are extremely rare, but can cost arbitrarily expensive.

Which auctions in 2011, most were placed records for works of Russian art?

In the first five top-selling record last year, only Nicolas de Stael (9.4 million) was installed at the Paris area, in the auction ArtCurial. All other records - it is to achieve Christie's and Sotheby's, and set in New York, not London. In general, the first 30 rankings of most expensive segment of the Russian art - it is the undivided kingdom overseas Christie's and Sotheby's. In addition to Artcurial, this thirty wedged Bonhams only two works Polenov and more expensive to Macdougall's portrait of the Kustodiev . It was only a 63 th place in the list of top selling our Russian St. Petersburg appears auction "Russian Seasons" with the "Goddess of Water» - the most expensive work of an auction in 2011. Recall that rated the most expensive paintings sold at auctions in Russia can be found here .

Can we assume the volume of Russian market of gallery?

knowledge of the auction turnover in Russia is not enough for us to help clear the relationship is not here. And yet, to evaluate the sale of gallery you can try. Let him very roughly. It is known that strong by Russian standards, antique gallery in the year can be sold in an average of $ 1.5 million. Someone much better than others. There are grants that can do more than 10 million turnover per year. But on average, about 1.5 million. How many galleries can be attributed to the strong? According to our estimates, about 30. Plus there are still so many galleries, yielding grandees, but evolved quite high class. Recall, for example, that at the last antique interior central VIP-zone consisted of 62 stands. The rest mass of the small galleries hardly add more than 10-20 percent of the total turnover. Plus, we make a certain margin for expensive private transaction. As a result, we obtain that for all the voluntarism of our assumptions can be assumed that the annual turnover of gallery market in Russia may be about 75-100 million dollars.

Why do we measure the Russian auction market ?

What is good understanding of the existing boundaries of the market? The field of practical application of this figure is really not too large. But it allows you to take a sober look at things, get rid of certain illusions and accept the absurdity of the individual comparisons. At least no harm will be understood that the global segment of the auction of Russian art, even allowing for the potential "neuchtenku" and all the errors - this is about 460-580 million dollars a year. On the billions of speech in general there, even though the auction segment focuses much of the expensive masterpieces. Similarly, we can assume that as long as a year in the auction of the 15,000 Russian exhibited paintings and drawings of the buyer finds nearly half, the score does not go foraging for tens of thousands. Rather, it can be assumed that the market for Russian art is based on a global scale around 3000 Collectors regularly buy.

And it is clear that their terms extended. Thus, unexpectedly good XXXII Antique Salon, held in early March, in the opinion of galleries participating, finally brought the "new face" - customers who had not acquired the art. By the way, enhancing customers (new and old) picture record from the beginning of 2012, it became particularly evident in February. Finally, another positive sign that the number of collectors of Russian art objectively growing - more and more condensed schedule of auctions in Moscow. Several recent trades indicative of painting and drawing showed a good percentage of sales - 50%- above the average of the previous year. So there is a chance that "mathematics" of the year we will appreciate even more.

Vladimir Bogdanov, Konstantin Babulin, Alexander Sinev, AI


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