Christie's canceled the auction of art of Central Asia in Dubai
ARTinvestment.RU   27 января 2020

Thematic auction Asian art now will be held twice per year and annually. The nearest auction will be held this autumn in London

Traditional thematic auction of modern and contemporary art of Central Asia, traditionally held twice a year, in the spring in Dubai and in the autumn in London, will change your routine. This year they will be held in London, and in the spring of 2021 — in Dubai, but will remain an annual event and, apparently, will be combined: in addition to fine art, to the directory you intend to include wrist watches.

"we Have no reason to hold two auctions, if the market does not want to", — commented on the decision by Christie's new managing Director of the Department of Central Asian art auction house Caroline Luke-Киркланд, noting that the best strategy for them is to follow the desires of collectors.

the Reason for the decline in consumer activity in this segment of the market, auction house experts tend to see the introduction of the art market of Central Asia into a more Mature phase of its development.

"In the early years when we first started selling this category [art of Central Asia], at the auctions there is a lot of random purchases, the collectors bought many works in all directions, — said Michael Jeha, the head of Christie's Middle East. — Over time, in our eyes, the market had entered a more Mature phase of development, and collectors now know exactly what they want. Their interests focused on a narrower group of artists."

Another reason for the decrease in the number of sales is the obliczania market: at a public auction gets fewer works by artists of the first row and the highest price segment. "Offer high-quality contemporary art [in the market] is becoming less — says Jeha. — In the last 15 years we have seen many great works are in the collection of various institutions and collectors who are not going to resell them".

finally, referring to the art of Central Asia and generally about the middle East, it is impossible to forget and about the geopolitical factor. Despite the fact that the UAE remains a pillar of stability in the region, disorganization and crises that shake one by one the rest of the region, can not affect the mood and purchasing power of local collectors.

however, and this is good news, it is noticeable that the art market of Central Asia ceases to be local: while local collectors and museums seem to have bought everything they might be interested in the rest of the world only became interested in this art. In confirmation of Christie's in the last few years began to include more and more works of Central Asian artists in their international sale of postwar and contemporary art, catalogs are traditionally formed mainly of works by artists of Europe and the United States.

From the above we can conclude that Christie's reduces its presence in Central Asia does not mean that the art of Central Asia out of world art-рынка.

Source: thenational.ae



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