«Blood Bath» for Street art auction
ARTinvestment.RU   30 сентября 2008

Saturday auction Lyon

September 27 in London with the crash failed auction of contemporary art and street art, which were presented, in particular, works by Banksy - graffiti is a major star in recent years. At the auction house Lyon & Turnbull's customers were less than a third of the 270 lots. One expert shocked even called failed auctions «bloody bath».

Over the past three years the price of street art have reached record levels, but the last auction shows that not all well in this market segment. According to art dealers, reducing the demand for «street art» due to the instability in the economy. Now, those who can buy art, buy a Picasso (Pablo Picasso) and Francis Bacon (Francis Bacon). And buyers of Banksy and other street artists, not among those who do not mind spending millions on art. For such buyers financial crisis hit the vast whole. Middle class is not art. And of course, fuel to the fire cowardly that some of Banksy, exhibited at Lyon & Turnbull's, were recognized as counterfeit.

According to the representatives of Lyon & Turnbull's, whose head office is in Edinburgh, at the auction were sold only 74 lots totaling 300 thousand pounds (553.4 thousand dollars), with estimeyte 1 million pounds. At the auction was put up a lot of relatively inexpensive works (valued from 1 000 to 5 000 lb).

«All the lots were affordable and fun - said Ben Henley (Ben Hanly), specialist of Lyon & Turnbull's on contemporary art. - Just a bad time. Now, many simply do not have the money. And the market is not the best ».

Regarding falshivok Banksy, the Agency Pest Control, whose mission is to determine the authenticity of works of art masters of graffiti, decided as follows: five works exhibited at Lyon & Turnbull's, were forged. The artist himself feels that his work should remain on the walls, rather than sell at auction, and, perhaps, why he refused to acknowledge the authorship of works offered for auction. Another agency, called Vermin, which was opened by art dealer James Allen (James Allen), stated that the original works. Auction House supported this view. As a result, buyers do not know whom to believe, but to give their blood for the controversial work of Banksy, no one wanted. According to managing director of Lyon & Turnbull's Kernou Nick (Nick Curnow), a similar confusion with authenticating a negative impact on the market for works by the artist in general. Many buyers of Banksy - young people who have never attended auctions. Naturally, they want to buy original works, and the scandals associated with the authenticity of works, they repel. Of the twenty prints Banksy, appeared at the auction, buyers have found a total of five, the most expensive of them, «Bomb Central England», hardly dopolz to the lower limit estimeyta (15 600 pounds).

The most striking of the lots submitted for the auction was a self-portrait of Kate Moss (Kate Moss), drawn lipstick. Job Title, «Who needs blood when there is a lipstick?», Wrote on canvas by his blood, former model boyfriend Pete Doherty (Pete Doherty). Amounts are suggested in the portrait of the buyers did not reach the bottom estimeyta (30 thousand pounds), so the work had not been sold. Later, an unidentified collector bought it, paid for it 33 600 pounds.

At Lyon & Turnbull has managed to successfully sell a few works, including graphic Lusiena Freud (Lucian Freud) «Etude head». Freud, who is author most expensive work of living artists, has created this work, when he was only 19 years old. Anonymous buyer purchased the figure of 22 800 pounds, slightly above estimeyta.

Another success was the sale of paintings by Michael Andrews (Michael Andrews), entitled «On the grounds of Bonnard». The painting served as part of the decor in your favorite bar of Francis Bacon Colony Room Club, which closes in December. Along with the creation Andrews auction house offered a green bench and two lamps of the legendary institution. Lot 38 went for 400 pounds (estimeyt 20-30 thousand).

Material prepared Onuchin Ekaterina Maximova and Julia

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