Sotheby's-1988 prices 2018-го
ARTinvestment.RU   28 февраля 2018

In the Moscow center Parking GARAGE was completed the exhibition "the Stakes in the publicity. Auction "Sotheby's" in Moscow, 1988"

the Only real overseas auction "Russian avant-garde and Soviet contemporary art", held in Russia, interesting today, and as a commercial and as a social experiment. As art was estimated 30 years ago and today? Who took the future? As time has adjusted the grades and rates?

"Sotheby's" in 1988 was not only the brave commercial, but first and foremost daunting diplomatic event. Seest case so-called "Englishwoman shits" suddenly invites and brings his mystery-твистеров to buy art yesterday hostile "Upper Volta with rockets". Perestroika, glasnost, heady air of freedom, suddenly declared the climate of trust... and even able to legally buy and take out the first Russian avant-garde. As for the export even received a special order from the authorities — question was decided at the highest level.

the Auction raised a lot of expectations. From the side it seemed magical entrance ticket to world art-рынок and in General gave many advances. In the Preface to the auction catalog signed by the Chairman of Sotheby's Honourable the Earl Gauri has these words: "Sotheby's is proud to be holding the first international auction of works of art in the Soviet Union. We are confident that he will not be the last, as for the development of cultural relations there is nothing better than a free exchange of ideas and art among young artists, collectors and students of fine arts from all countries of the world."

they Believe... "the Dreams, my Lord, I had dreams, they are as pure as tears." It's been 30 years, but no one foreign auction never came to Russia.

and will not come in the foreseeable future.

For three decades the first and last of the Moscow Sotheby's had time to acquire many legends. About business and not very nice. "Not very" — as immediately started very Soviet in spirit fuss people, damaged housing question: who to take to auction, and who do not take who are his, and who to pull. Artists were suddenly given food shortages, not to be ashamed in front of foreigners. Money (by contract artists promised money: currency and rubles), too, they say, not everything turned out beautifully. How do we know? What-то told me themselves witnesses of thoseevents. What-то can be found in the books of the participant of those trading artist Grisha Bruskin. By the way, I can safely recommend it "Past tense imperfective" or any other book written, and skillfully and accurately, read in one breath. In General, it was or was not, but in this race it is hard to believe: it's very in the spirit of the late Soviet era.

But legends are legends, and the real texture is still possible to reconstruct with a high degree of confidence in the auction catalog, according to protocols and others shown in the exhibition documents. So here's what happened:

1. In the auction catalog, Sotheby's 7 July 1988 included 34 artist: Grisha Bruskin, Sergey Volkov, Alexander Drevin, Eugene by dyibsky., Yuri Dyshlenko, Ilya Glazunov, Vadim Zakharov, Ilya Kabakov, Svetlana Kopystiansky, Igor Kopystiansky, Dmitry Krasnopevtsev, Bella force, levikov, as, Malle leis, Tatiana Nazarenko, Irina Nakhova, Vladimir Nemukhin, Natalia Nesterov, Arkady Petrov, Dmitry Plavinsky, Leonid Purygin, Alexander Rodchenko, Alexander Sitnikov, Anatoly Slepyshev, Varvara Stepanova, Ilya Tabenkin, Lev Tabenkin, Natalia Udaltsova, Nikolai Filatov, Ivan Chuikov, Eduard Shteinberg, Sergei Shutov, Gia Edzgveradze, Maria Ender, Vladimir Yankilevsky. Of the 34 artists names today four is not at the hearing, and all other regularly sold on the world and Russian auctions. So in this question — Bravo, "Sotheby's"!

2. Just put 120 lots. 8 of them (most of all) put the artist Vadim Zakharov, were Alexander Rodchenko (7 works), Grisha Bruskin, Svetlana and Igor Kopystyanska (6 each). In General most of the authors of the catalog includes 2-4 work. Easier to list those who had only one painting or drawing: Maria Ender, Tatyana Nazarenko, Dmitry Plavinsky and Vladimir Yankilevsky.

3. A particularly valuable Russian avant-garde was why-то "warming up": it was sold in the first string, with 1 on 18 lot. In the block of Russian avant-garde presents works by Nadezhda Udaltsova, Alexander Drevin, Alexander Rodchenko, Varvara Stepanova and Maria Ender.

4. The most expensive piece at the auction was an abstract canvas, "Line" 1922 brush Alexander Rodchenko: paid for it at £330,000, that is $564 300.

5. The most accessible work on those auctions cost of £2 200, or $3 762. For this same amount left several works: three five-foot canvas Yuri Dyshlenko, the big picture Bella Levikova and two paintings of Ilya Tabenkina.

6. Could buy only foreigners for hard currency. Soviet artists and the heirs of the avant-garde owed 60 % of the amount of sales (the rest — organizers), of which 10 % in foreign currency and the rest in rubles on demand course.

7. Elton John bought lots 51 and 56 @- paintings of Svetlana and Igor Kopystiansky. Each for £44 000 ($75 240). Lot 57 (Kopistansky) bought the author David Bowie, for £24 200 ($41 382). In addition, the Protocol hand written, that the head of Sotheby'sAlfred Taubman bought the painting Ilya Kabakov "Answers of experimental group" for £22 000 ($37 620).

8. Total sales, according to the report, amounted to £2 085 000 (including 10% Commission). The proportion of care for the lots, by my count, was 94 %. In other sources the figure is 98 %. But, according to the Protocol of the 120 lots (the last lot had room 119, but there were 4 and 4A) remained unsold 7.

9. Russian avant-garde officially and publicly been sold to foreigners with a permit. The work of artists of the Russian avant-garde came up for auction not from Museum collections and from private collections of families and heirs.

10. In fact, from the first blow of the hammer of Simon de Puri in the arts in the Soviet Union came to the market. After that, for several years, many participants in the Moscow Sotheby's moved to the West. Some forever. Moscow Sotheby's auction was the last major event of 1988, which effectively ends the chronology of the clandestine and unofficial art in the known directory "Other art". And it's hard not to agree that what is openly sold in the Sovincenter, the underground cannot be called.

Remember individual paintings and drawings with those historical trading.

Comment: The Work Of Rodchenko "Clown. Scene in the circus" — is one of the few that could have been alive to see the exhibition in the "Garage". It was given by the Moscow collectors of Marina and Boris Molchanov. It is known that on 26 April 2006, she was resold to the current owner at Sotheby's in new-Йорке for $528 000, that is 10 times more expensive than it was bought 18 years earlier in the USSR. "Clown" is interesting, in particular, the fact that this is one of the first paintings (and maybe the first) that Rodchenko did in 1935 after a long period of rejection of painting. Before that, he had not taken the brush for 14 years, believing that not painting, but the photo meet the challenges of time. At the moment, the price benchmark for work of this class is already of the order $ 1 200 000.

Comment: avant-garde designs, patterns and concepts Varvara Stepanova in recent years, particularly in demand by the designers. Her style — recognizable diamonds — have adopted in the design of the underground, during development of the shape style of the Russian Olympic team for the games in Rio in 2016 and even in creating the entire brandstyle the celebration of 870-летия Moscow. Gouache, sold at Sotheby's in 1988-м, can be called not only a price target of today, but recent auction price: this pattern for cloth in late 2016-го resold at Sotheby's for $49 960. Today, the gouache would cost rather $55 000-60 000. About 7 times more expensive than 30 years ago. It's a bit pricey — "pure" without all this history of these gouaches are cheaper. But due to the provenance — for this picture "Sotheby's" specially ordered fabric from her — scarves for guests of the historical auction —, this price is justified.

Comment: the Constructivist Line Rodchenko, which, according to the New York Times, bought a London dealer David Jude (David Juda), became the most expensive painting auction — $564 300 in the conversion of pounds. Today the work of this class would cost the global auction market 5-6 times more expensive — $3 000 000, maybe more. The current auction record for Rodchenko is $4 500 000 — so much in 2016-м gave another of his constructivist composition.

the First Russian avant-garde that July day in 1988 was sold cleaned. Nothing surprising. Usually the prices were 1.5-2 times higher than the estimate. Since then a number of things have repeatedly resold to new owners. And judging by the prices of repeat sales model the return on investment made 30 years ago, amounted to 17-20% per annum. It's simple to percent, excluding inflation, but still good.

Contemporary art and the "second Russian avant-garde" (the sixties) also went to cheer. But here, unlike the situation Rodchenko, Stepanova or Ender, buyers required much more knowledge and visions. There was no guarantee that all the artists directory will rank high in the history of art. And so it was. On the situation in 2018 it is obvious that for any-то work highly overpaid, and what-то, on the contrary, was bought for little money. But still buying at the auction makes your stay much more tranquility to collectors than an emotional purchase from the market on your own risk don't get at what price. Despite external pressure, in General, the organizers of the auction —, the drafters of the catalog had a good selection, greatly reducing the risk of customers. Yes, works that on the segment in 30 years has risen in price by 5-6 times (with the pace of the Russian avant-garde), among them much less. And despite some successful examples, the rule of thumb about the higher risk of investing in contemporary art than that which has already passed the test of time, in General.

Comment: a Gigantic three-metre work made up of 32 canvases, became the most expensive lot of the auction in the string of contemporary art."The fundamental lexicon" Grisha Bruskin success was virtually assured: his picture graced the cover of the auction catalog. But almost 17-кратного growth rates relative to the estimate of $24 000 could not predict one. The work is very spectacular and conceptual — about the rest of our lives. It can be seen at the exhibition in Moscow. To assume its auction value today — difficult task. In 2000, at Christie's comparable to the class of four-meter canvas "Technology I" was sold for $424 000. This auction record, but for 18 years a lot has happened. I think that today's "Fundamental lexicon" would cost at least twice as expensive — at the expense of artistic quality and provenance and its memorial value. Just as 30 years ago, "Sotbis" sold 6 paintings Bruskin (all of which were exhibited at the auction). One of the things — lot 21 — can be made more accurate pricing reference: at the time it was sold for $26 334, and in 2017-м work comparable class of the same series went to "Sotbis" for $150,000. Growth at 5.7% for 30 years. Shortly after the Moscow Sotheby's, the artist Grisha Bruskin went to America. After a while with him contracted the influential gallery "Marlborough", which at that time was number one on Francis bacon and other top names.

Comment: In the memories of those events and then heard: "imposed", "lowered from above" and the like. The younger generation of artists strongly disliked Ilya Sergeyevich. His works do look exotic among the works of yesterday's informal or semi-formal artists. But the paintings put up for auction good, at least three of the four. The most expensive of these was a four-foot canvas "Ivan the terrible" in 1974, published in one of the monographs about Glazunov. This is a strict naturalistic historical narrative, not for the home. However, this is an absolute Glazunov, in his strongest time, the most valuable of the period. His current auction record of close to $100 000, today is another work of the same class — "Russian Icarus" in 1973. But we must understand that this is a record, an exception. And usually oil Glazunov's now sold in the range of $10 000-25 000. Of course, given the auction history and the size of the "Ivan the terrible" would have cost more ordinary things. But not 10 times. Rather, the same $50 000-60 000 —, maybe a little more expensive.

Comment: Pattern the most expensive living Russian artists the historical "Sotbis" went above the estimate, but without excitement. For example, the most significant and valuable "Answers of experimental group" was sold for about twice the above estimate, but still for a relatively modest $37 500. But time passed, and today Kabakov is considered one of the main, even just the main value of Russian artist of the postwarunofficial art. Western art monographs written, filmed, artist represented in leading museums around the world. Surprisingly, among the top auction-5 in Kabakov almost all work performed on a figurative basis, including "Beetle" Vyacheslav Kantor for 5.8 million dollars. Do not accept collectors in their collection, tables and texts. The closest reference selling for "Answers of experimental group" was held at Phillips two years ago: a three-meter table the concept of "stitch" sold for $660 000. Expensive. But the "Answers" in all respects better and greater "Sobakina". So the auction price on them today can be rather of $1,000,000 — in 26 times more than 30 years ago. If so, then this thing Kabakov has become one the most profitable shopping those trades.

Comment: For this landscape artist Svetlana Kopystyanskoy (he, too, was alive at the exhibition in Moscow) know the real result of the re-sale. He's weird. In 2005, "Landscape # 4" perevertailo "Sotbis" and sold for a relatively small $11 300 (in Moscow 17 years before it was purchased for $48 906). Can we consider the new result a reference? I think only partly. Because prices have jumped. Through the year-другой her "Landscape" in 1988, but from the same cycle that "Setbase", was sold for $92 800. And two years later was altogether a new auction record for works Kopystyanskoy: very spectacular "seascape" in 1995, wider than a metre, was sold at Phillips for $117 000. It was the peak of the market, then prices calm down. But even in these times, I think sotbisovsky "Landscape # 4" will cost at least $50 000. Abroad, of course, not us.

Comment: Without extra charge for each provenance Krasnopevtsev this size and class would cost now at Sotheby's about $95 000-100 000, and in Russia — about $65 000. Taking into account the special memorial value to the price you can add another 15 %. Why? All-таки to have a home hardboard, played in historical (and lifetime Krasnopevtsev) directory — is extra fun. What else is there to say? Except: "Give me a time machine!" Krasnopevtsev, for which Sotheby's when-то asked for £2 500-3 500, today one of the most beloved artists at the Russian art collectors and is one of the most popular on the market. And is now 20 times more expensive. The only novice collectors advise to keep an eye on: small Western auctions are filled with fakes under Krasnopevtsev.

Comment: Vladimir Nikolaevich was one of the mastodons of unofficial art that were included with the Lianozovo circle. Abroad such Nemukhin still life now can cost in the neighborhood of $15 000. In Russia — is really around $10 000. By the way, it is very evident that soon after the artist's death sharply intensified the forgers. Buy Nemukhin without their own knowledge in recent years has become much riskier than ever before.

Comment: the jesters — artist cult Solovyov's film "ASSA". It incidentally, we see in the first frame: a strange man with net on the face — clowns is. Russian cosmist, avant-garde, in 1988, he was 33, still quite young. Work bought. But to the commercial part of the event the clowns with friends reacted with a large share of self-irony and in 1988 together with the "world Champions" held a rally "Anti-Сотбис". How many today can cost three - "ACCA, nephew!"? There are no direct analogues, but a number of the reference sales — in the region of $30 000. It depicts Crimea, Novikov, gurjanov. At auction it was bought by andré scholer and donated to the Fund and not created the Museum of modern art in Moscow. Now the work is stored in ROSIZO.

Comment: For the great composite pictorial work of Anatoly slepysheva, physically composed of 6 canvases that day, paid one and a half times the cost estimate — $16 930. In 2008, his large paintings (of several parts) has reached record prices in the range of $30 000-45 000. After the crisis the price corrected down slepysheva, and only the last five years, his work again became hits auctions (on AI he is one of best-selling authors). Now price target meter canvases were established in the area of 230 000. Large restitutie pictures today uncommon, although can be found. They are, however, much more expensive — order $15 000.

Philosophical lessons of the Moscow "Sotheby's" in 1988 no less interesting than the commercial. Several of them, although everything revolves around one thing:

1. Patronage, movements of the elbows and inclusion in the lists based on the appropriateness for all tactical efficiency have very limited validity. The door to the great pages of the auction catalog can be a springboard to a professional career, but does not guarantee the distance of the jump.

2. The lack of this in the first auction catalogue of the works of Zverev, Yakovlev, Rabin, Tselkov, and many other top names had no effect on their high place in the history of Russian unofficial art and future position in the market.

3. A few names from among the participants of the "Sotheby's" in spite of such a startconditions, almost fell out of art history and from the turnover of the auction.

4. No one can know in advance how things will develop in the future. Love collectors is fickle. And their opinion of fair prices can change dramatically. Please note that the same Krasnopevtsev in 1988, the catalog was estimated cheaper Nemukhin, Nesterova, slepysheva, and many other good artists.

For the current collectors is both a lesson and a reminder of the possibilities. As before, now exhibited among the auction lots is a lot of work yet undervalued authors. However much to play against the market is not worth it. "Sotheby's" once again shows that the market may be right 30 of 34-х attempts, that is, almost 85% of cases.

Vladimir Bogdanov, AI