Art Investment

The crisis «spare» market «Old Masters»

economic crisis will affect some segments of the art market and «spare» others said in an interview with RIA Novosti Martin Böhm, managing the largest Austrian auction house Dorotheum.

«Art Market is composed of many separate divisions with a rigid differentiation: the old masters have nothing to do with contemporary art, a Russian school - in Italian. It happens that the prices of all the arts together go up sharply or fall down », - said Mr. Böhm. Sobesednik agency added that the stable face any crisis «artists, in which prices will not fall». «This is the blue chips, the best of the best masters, and prices are stable, and stability now - the best investment».

Böhm also admitted that «in contemporary art in recent years, prices were inflated, and it is possible that this bubble will soon burst».

«Good Works in any author is not a lot, and foundations, and museums usually emblematic not miss. And so the younger the artist, the more around rumors, intrigues, and assumptions. I personally would advise at this time careful to buy contemporaries and focus on your own taste, not on advertising, to choose works of the artist with the name and take only the best work ». «However, the purchase of small works on low prices, may also be a good investment».

Russian bugbear - the bureaucracy

Head of the auction house did not rule out the possibility of establishing a representation Dorotheum in Moscow: «Do not say that it will be soon, because this is a very costly process, in Russia we are frightened bureaucracy. While it will not hide, historically our house a lot of Russian customers, whose families live in Vienna ».

Böhm noted feature of Russian clients, who buy «not using the calculator, and the heart».

Böhm recalled that Dorotheum one of the first Western auction house has appeared in Russia, organized an exhibition of 15 years ago. In his opinion, Russian art is an integral part of the art world, «so we have to include Russian art auctions in the world». «If we are organizing an auction of paintings the twentieth century, then include the Russian art of the twentieth century. We are not separate or Swiss German auctions. There are, of course, the practice of holding separate Asian auctions, but Russian art - part of Europe », - he explained.

royal case

Sobesednik agency reported that the Dorotheum - the only major auction, which until recently belonged to the State, «it has organized the emperor, and it was a state matter - the public service auctions».

Dorotheum today one of the oldest and the third turnover in the auction world. He appeared at the palace on Dorothy Street in the heart of old Vienna. In 1707, the Emperor Joseph I to have ordered the highest order of the world's first public pawnshop and auction.

«In 1979, the auction was the company and six years ago the company was sold into private hands, it bought a private person, including myself. It cost us 70 million euros », - told Martin Böhm. Sobesednik agency did not answer the question, whether to return the investment, but clarified that this was not an investment project. Dorotheum - institute, which is part of the city of Vienna, and is open to all visitors. «Customers are always happy, irrespective of whether they are to buy for 100 euros, or millions. First and foremost, we auction house and the second - a commercial organization ». In Dorotheum over the past six years have witnessed important changes. «The most important change - the internationalization and modernization. The company maintained the tradition, but the emphasis has changed, before the auction was first of all, the Austrian, and then international, and now the priorities are reversed ».

Source: rian.ru


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