Russian art auctions in London. The situation is encouraging
ARTinvestment.RU   26 ноября 2008

Under pressure from the negative situation had all the chances to get worse. If the auctions have failed, it would be a sign of liquidity problems and an impending recession on the art market. To the great joy of market participants, this did not happen

mood of the market of art, gathered at the «Russian Week» in London, at first it was not important. In late November, the eve of the first day of trades prevail opinion that the sale of even forty per cent of lots can be considered successful auctions. The most pessimistic predictions, investors and collectors that will be sold and is only twenty percent of lots, while in better years, the result exceeded eighty per cent - during the boom, almost all sour.

The reasons for such fears were a few. Even before the start of bidding by experienced collectors pay attention to the fact that the average level of exhibited works at the auction was markedly lower than normal. Masterpieces, we can say, almost not there. This range, even during the period of rapid growth of the market has been fraught with failure. And to date, and podavno. The factors limited the choice of works is amiss and the added factor of high prices. Estimeyty (recommendations of the auction price) for most of the works were too optimistic, this is caused naturally surprised, but simply explained: auction lots collection formed since the summer, when the situation was much better, and summer estimeyty докатились on inertia to fall trades. But representatives of the following bid auction houses are determined estimeyty adjusted downwards.

Under pressure from the negative (weak selection + revaluation), the situation had all the chances to get worse. If the auctions have failed, it would be a sign of liquidity problems and an impending recession on the art market. To the great joy of the market, this has not happened. If the first auction, auction Bonhams, has unsuccessfully (the success of them, the truth, not even the optimistic predictions), then the next, a demonstration evening auction Sotheby's, all have established - on the faces of the participants and the organizers of trades bloom smiles. It was sold about sixty percent of lots, which, frankly, few people expected.

About Bonhams auction on 24 November , you can remember that for primary estimeytu of 150 thousand pounds has been sold at a later date, but the expressive work Tselkova «Mnogogolovy character with a spoon» (1982) . The picture with estimeytom 150-180 thousand pounds a buyer bargain over 45 thousand pounds. Is hard to recall another case in the current auction history for the transaction was completed at a cost of more than three times lower than estimeyta.

evening auction at Sotheby's November 24 strong canvas «Flowers in pink» forecast ARTinvestment.RU . Have the same estimeytom, but not outstanding experimental work Lentulov (Konchalovsky colleagues of «Knave of Diamonds») was unexpectedly sold well over 937 thousand pounds (forecast AI was «rather than sales»). Local mikrosensatsiey include the sale of the «Naked» Mikhail Larionov for strong 1385 million pounds and that, in the opinion of experienced collectors, this hard work of a number of strong works. Perhaps the most vivid battle flared over tempera «leader» Nicholas Roerich . Quickly pass the values estimeyta of 250-350 thousand pounds, two buyers are not stopped, and millions of pounds. As a result, the price of epic works recorded at around 1105 million pounds.

The next day, November 25, the next session of bidding Sotheby's has had the expected result: nearly half the lots had been sold. Since then, the perception that the market «live», although the decision has become more balanced. Experienced collectors noted a general trend - surely sold with above-average quality. The second session of bidding at Sotheby's was largely devoted to post-war art and the outstanding results are not shown. A lot of artists Sixties turned out in the zone not sold. This «fail» to explain it is difficult, because after an informal art is still a high investment potential. Of the normal projected sales are the realization of the picture Dmitry Dmitry Krasnopevtseva «Still life with bottles» (1969) for 85.25 pounds, with thousands of estimeyte 40 -60 thousand pounds. Interesting «ceiling» collection portrait composition «Rotation» Sixties Oleg Oleg Vasiliev has been sold for thousands of pounds 97.25, is within estimeyta 80 -120 thousand pounds. Funny «The man with a lemon» (1960's), Oleg Tselkova unexpectedly frisky beyond a reasonable estimeyt of 50-70 thousand pounds and stood at around 109.25 thousand pounds.

Today, tomorrow at the art market analysts appear to reflect more information. 26-27 November, the Russians will be a series of trades Christie's, plus 26 on a large Russian auction MacDougall's (specialists pay attention to the excessively high estimeyty of the auction). In general, it is much more optimistic yesterday, price index of Russian art ARTIMX on the basis of trades remained in the green zone with a slight advantage (1.82%). So far, this market dealer, but there is expectation that soon the time the collector, when the more modest estimeyty create optimal conditions for the purchase of paintings in private collections.

Vladimir Bogdanov, ARTinvestment.RU