Last week the price of shares in the auction house Sotheby's has fallen by 9 percent, down to the lowest point since June 2006

Last week, shares of the British auction house Sotheby's fell by as much as nine percent. This is the lowest since June 2006. In 2008, the shares have declined 40 percent. And compared with the peak value observed in October 2007, the price for them was lower by as much as 60 percent.

information is alarming, given that this evening in London to be held auction Sotheby's, devoted exclusively to works Demiena Hurst (Damien Hirst) , the outcome of which, experts believe, will serve as indication of the state of the market for Contemporary Art . Auction will show whether rich businessmen to continue to give millions of dollars for a stuffed into formaldehyde. Many have expressed fears that are not ready. «Trades works Demiena Hurst fail», - categorically states the New York dealer Asher Edelman (Asher Edelman).

In a recent article for the Financial Times chairman of the British TV Channel 4 and Head of Risk Capital Partners Luke Johnson (Luke Johnson) claims that in the context of a global economic recession, when real estate prices and consumer spending drops, bubble in the market of contemporary art simply can not continue to grow. At this, some argue that luxury items, which include works of art, have «immunity» against the disease economy. But worth a look at the sales results of other «expensive toys», such as jewelry Tiffany, clothing Louis Vuitton, yachts, luxurious cars and private planes to make sure that it is not. Recently in New York was auction of works of modern art Sotheby's , which showed that crazy increase in prices in the market - an illusion. Trades brought 10.6 million dollars, which is within estimeyta, but well below its upper boundary (14 million). Unsold lots were 31 percent (compare with 19 per cent on the same auction last year). And the most expensive price of the auction, the painting Roy Lichtenstein (Roy Lichtenstein), not «dopolzla» even to the lower limit estimeyta.

But many believe that the reasons to be optimistic all the same there, and chief among them - sverhbogatyh active buyers of the former Soviet Union, China, India and the Middle East. Luke Johnson said that the actual art is not very interested in eastern billionaires, but the practice shows that it is not right.

September 18 in Moscow was called exhibition of contemporary art from the collection of a famous Larry Gagosyana galleries . This is the second such project Gagosian Gallery in our country: in the last year in Moscow Barvikha successfully hosted an exhibition of modern and contemporary Western artists. Most works were bought even before the event. At the Moscow exhibition will be presented about 70 works. They are expected to bring more than $ 300 million - modern art, largely thanks to Ms. Dasa Zhukova and «garage», in our fashion. And in China and India's booming contemporary art already has become the byword. «Remove» Hirst Auction Russian and Asian buyers in the state, and that's what will happen next - nobody knows.

Material prepared Yulia Maksimova

Sources: nysun.com , ft.com , online.wsj.com , artinvestment.ru