«Black Monday» did not ignore a party and art market. Unrest investors fear that the falling financial markets utyanut an art market, have led to the collapse of shares in Sotheby's 21 percent. This is most likely linked to the is not very good results of the tenders organized by auction house in Hong Kong . The morning auction of Chinese works of art of the twentieth century have remained unsold, two-thirds of lots. Yesterday evening to Sotheby's shares climbed a bit, but still the price remains the lowest since July 2005. Only this month the paper auction houses have lost 27 per cent.

The situation is even more sad, considering that at the major auctions of Asian art of Sotheby's, held 4-5 October, sold in pieces of modern art. But three weeks ago, after superuspeshnogo solo auction Demiena Hurst (Damien Hirst) thought that this is all the market will certainly be in order.

News from the auction of fields are very contradictory, as well as the opinions of specialists. With regard to Hong Kong failed to notice all the trades that the customers do not find particularly top lots, a low-cost products enjoy a on more success. Explanation of this phenomenon are relatively young Chinese contemporary art market, the players who, despite the economic difficulties continue to buy, although not the most expensive things. This perception, that of «cheap» sector of the art-market crisis hit the whole vast, and this applies primarily to Europe and America, where the boom in the art market has already developed. Bloomberg cited statistics: for the recent 34 per cent increase in the number of auction houses and valuers of art UK, reported a decline in the prices of works for 1 000 pounds and below. The number of those who said an increase in the prices of works of art worth 50 thousand pounds and above, has a 39 per cent more.

The highest increase in prices show again on contemporary art, but many experts predict that the market decline soon. Became a byword recent auction of works of contemporary art and street art Lyon & Turnbull's , which one critic called susceptive «bloody bath». Art market analyst Nicholas Forrest (Nicholas Forrest), the author of the influential blog Art Market Blog, however, does not agree with him: he said, must take into account that the majority of lots provided for the unfortunate Lyon & Turnbull's, were not to fine arts, and for furniture and design - and the market design is much more vulnerable to crisis than the art market. In addition, in circumstances where the trading day before the author of a number of almost the top of lots has refused to recognize themselves as such, expect a high demand and severe price at least funny.

In general, it is clear that nothing is clear. When the market collapses of Modern Art, called by many «colossus on clay legs», and, incidentally, would collapse, if any, one can not say. But the reality is that the purchase of the legendary masters of the type Bacon (Francis Bacon) and Malevitch (which, incidentally, appears in the magical auction Sotheby's Nov. 3 ) is much cheaper than the same things Hirst or Syaogana Zhang (Zhang Xiaogang), prices of products which may soon fall.

Material prepared Yulia Maksimova

Sources: bloomberg.com , artmarketblog.com , artinvestment.ru