Stolen in the USSR Aivazovsky was removed from the auction in Switzerland
ARTinvestment.RU   29 сентября 2017

Earlier this picture twice successfully sold at auctions — at Sotheby's and Koller. But on the third time the sale has been stymied. The authorities are negotiating for the return of paintings

Message about the removal of the painting by Ivan Aivazovsky with the Swiss auction was today posted on the official website of the Ministry of interior. The text says: "data was obtained that in Switzerland at the auction house KOLLER exhibited painting by Ivan Aivazovsky "View of Reval", written in 1845 (original title — "Sea"). Indicated the product was stolen from the Museum's collection-заповедника "Dmitrov Kremlin" in 1976, In the course of cooperation through Interpol channels with the Swiss partners of the stolen cultural value an estimated value of more than 1 million US dollars has been withdrawn from auction".

the Search and negotiations on this picture has successfully held the NCB Interpol of the MIA of Russia with the participation of the Ministry of culture of the Russian Federation. Well done.

Likely, the auction would not oppose the return of paintings to Russia. And there is no reason to doubt that the organizers did not know about the criminal history associated with painting. Why? Because she twice in front of the whole world are exhibited and sold at a public auction. For the first time, according to our database, this painting sold in 2005 in new-Йорке at Sotheby's for $552 000. Then there was bargaining, the estimate was exceeded twice, that is, no one, no doubt about it. Not to mention the fact that Sotbeby's always check the purity of the provenance with all means available. If the picture appeared in stolen bases — would have found. Second time at open auctions this "View of Reval", "Sea" was exhibited and sold in 2006, at Koller in Zurich — for $1 262 000. The third time the painting had to be exhibited now trades it in Koller was to be held on 22 September 2017. Estimate was already much more modest — $480 000-670 000. But no luck.

Why a picture was estimated at two-три times lower than bought? No, it's not what you think. Just the price of Aivazovsky in the last 5 years really fell in dollars just in 2-3 times. By the way, today is more the real market price of paintings by Aivazovsky this size (59 × 81) in the domestic market in Russia — about $350 000. At Sotheby's or Christie's, the price would be higher — around $400 000-450 000. But-первых, the work of more than 100 years — means that the export is prohibited. In-вторых, there in the hands of seller-сдатчик still get about 30% less, net of commissions and other fees (that is about $300 000). However, in any case, the picture is not worth "1 million dollars" as written in the message of Ministry of internal Affairs. Although in this situation it is not so important.

in General, the whole story — is speaking about the reliability of open sales over the Internet. Once the auctions began to publish their catalogs on the Network began to appear of turning to be things missing as much as 40 years ago. And this story teaches that the organizers of the auction need normal access to the normal database of the stolen works. This is exactly what the state can do usefulfor our industry. Need bases, which are promptly stolen included Aivazovskii of Dmitrov Kremlin, as well as Shishkin, Korovin and all others from private collections and other places. Now this base is fragmented and access of market participants to them is difficult or impossible. So to a certain extent, it often happens that the auctions are forced to rely on luck. Only advance publication of open lots on the Internet helps to reduce these risks. What may have happened this time.

Vladimir Bogdanov, AI

Sources: of the interior Ministry.of the Russian Federation, artinvestment.ru