Hirst and Koons have lost 50 per cent
But in the future they may be buying as classics
According to Bloomberg, the main stars of the art-boom - Damien Hirst (Damien Hirst) and Jeff Koons (Jeff Koons) - last year lost its leadership in the auction market. Prices for some of their work fell by as much as 50 percent. On the restoration of their markets may take up to ten years.
in 2009-m collectors billionaires mostly leaned on the classics of the twentieth century, art deco furniture, old masters and Chinese art. As for "kontemporari", the crisis was felt more strongly here: selling works of contemporary artists on the major evening auctions Christie's and Sotheby's have fallen 75 percent .
«People have lost huge sums in Hurst, and now they are still recovering, - says the head of London's Fine Art Fund Philip Hoffman (Philip Hoffman) . - As long as prices do not rise to it, they are unlikely to agree to sell his work ».
According Artprice.com, in the period from 2003 to 2008 auction sale of contemporary art have grown more than tenfold. Over the 10-year period, "the culmination" of which became solo auction of Hirst Beautiful Inside My Head Forever ( «In my head I'll be beautiful forever") 15 September 2008 , the price index of the artist grew 996 percent!
According to dealers, personal auction of the artist, arranged a house Sotheby's, became the last important event of the era of "bubble". "That auction was a savage, - notes the London dealer Robert Sandelson (Robert Sandelson). - He just twisted all the statistics. We now Damien recession - as with other artists. It feels that it is now 2000 or 2001. In fact, to return to the previous records, the market will take many years ».
auction Beautiful Inside My Head Forever, which brought 111.5 million pounds (178.5 million dollars), allowed Hirst shift from the pedestal of the previous king's art market, Jeff Koons. In the period from June 2007 to June 2008 the creation of the last collected a total of 117,2 million dollars.
According Artnet.com, in 2009, auction sales of high-Koons works by 50 percent. Broke the million mark just nine works. For comparison: in 2008 the number of "seven-digit" works was 18.
«Baroque Egg with Bow" chrome-plated steel, appeared at Sotheby's auction in May 2009, It took over 5.5 million dollars with Estimé 6.8 million . Less than a year before «Flower of the balloon", included in the same series of Celebration, was sold at Christie's for record 12.9 million pounds (25.65 million dollars) .
«Then there was a time of extravagance, - said the former owner of the sculpture, a collector from Dallas Howard Rachofski (Howard Rachofsky). - Market intemperate speculation, fantasy market. There were the mega-billionaires from Russia and Middle Eastern countries are interested only in those eight artists who told them to be interested in ».
The year before, more expensive than a million pounds had been sold 32 works by Damien Hirst. 24 of them have found new owners at the Beautiful Inside My Head Forever, the largest in the history of the auction, all lots offered for which the artist himself. In 2009 could boast of only one seven-result - a $ 2 million for work performed in 2006, now with butterflies, entitled "The Importance of unearthly - the kingdom of heaven» (SeoulAuction, Hong Kong, October 7).
In the autumn auctions Sotheby's, held during Contemporary Art Fair Frieze , a different picture with butterflies, "Retribution" (2006 ), was purchased by New York collector Jose Mughrabi (Jose Mugrabi) for 541 250 pounds. A year earlier, similar work entitled "reincarnate" (2008) brought to the "solo" bidding 1,6 million. The lower estimate of paintings were 450 thousand and 500 thousand respectively.
In October 2009, the founder of London-based ArtTactic Anders Pettersson (Anders Petterson) stated that since September 2008 the price index for paintings with butterflies fell 41 per cent.
«Hirst come back yet, - said Robert Sandelson. - If we talk about the short term, the problem may be an overabundance of work. But the market, Andy Warhol, this ultimately did not stop. In the future, Hearst, like Warhol, will buy a classic ».
« Hurst has left his mark in the history of art - said Philip Hoffman. - But 30 years later collectors are interested mainly early work, but not those that it has complied with the army of assistants. I think that the price of Hirst's early works have not changed. I would not invest in a new thing, which was sold in 2008 ».
Sources: , artinvestment.ru
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