The article about the recent events on the art market

[Artdealer]

http://ria.ru/interview/20110727/408080955.html

Egor Molchanov, an expert on investing in art ARTinvestment.ru, said in an interview with RIA Novosti as auction houses absorb the art market, surviving galleries that the art market turnover last year amounted to 43 billion euros and why prices rose again Banksy. Interviewed by Mary Ganiyants.

- The rapid success and sales growth across all segments of the art market, which warn the world's leading auction - this is a general trend of the market, or a feature unique to the open bidding? And as the crisis itself felt galleries and dealers?
- According to a recent study commissioned for CINOA (Confédération Internationale des Négociants en Oeuvres d'Art), scope of the art market is 43 billion euros by the end of 2010, with approximately 52%of sales accounted for by dealers and galleries, everything else belongs to the auction , with most of Sotheby's and Christie's. These auction houses are very thoughtful, but at the same time quite an aggressive marketing policy, combining with an active public relations, and therefore, the people had more confidence in the auctions than to galleries. On the one hand at a number of things they exhibit excessive estimeyty to attract sellers, and the other deliberately understate the price of the most attractive lots, attracting buyers.
- Why were selling more collections than individually?
- Now on top of things come to demand high quality and with the "rich" provenance. And, as practice shows, these "historic collection", sold well above estimate. In addition, auctions hard "climb" in the private market sales through affiliated galleries. Since Sotheby's bought the Dutch Noortman Master Painting, once belonged to one of the largest antique dealers - Robert Nortmanu and paint the old masters. Christie's, in turn, bought the British contemporary art gallery Haunch of Venison. To summarize the above, it is obvious is the monopolization of the art market by large auction houses that capture a growing share of the market. As a result of falling sales at national auctions, galleries complain that they are hard to sell: to survive, those who were able to adapt to changing conditions, ie hold the exhibition and actively participate in international art fairs. Not bad feel such renowned galleries as the Landau Fine Art, Marlborough, Acquavella, and several dozen others are not as they would like.
- Earlier in the auction was attended by mostly professionals: gallery owners and dealers, private collectors and now, do auction houses are able to interrupt the quality of expertise and comfort care Earliest gallery?
- In this all hope: the auctions are not able to provide the client with an individual approach, pick up his collection, to offer exactly those objects of art he wants and that is not unimportant, to give guarantees. In any major gallery in the event of problems with work it can return even after a few years for the original price. But to return money from the auction, even when buying fakes, it is very difficult. But not all customers understand this. At a recent conference of international association of antique and art dealers CINOA, which was held in St. Petersburg, this problem has been clearly marked. There was attended by dealers from the Old and New Worlds, which confirmed that in the galleries of art and antiques sale is worse than at auction, though prices of the last 10-30%higher. Here is the story of one New York dealer who sells English furniture XVIII-XIX centuries: he was surprised to find that person who lives across the street, bought that same furniture at auction in England, and he carries her to New York. That eventually gets him a much larger sum than if he bought it in the gallery dealer. People just do not know that there is another possibility, but auctions.
- In times of financial crisis, which is removed from the art-market speculators and non-professionals, mostly in the price fell contemporary art. However, in the last year it was contemporary art shows a rapid rise in prices. Why?
- There is another assumption: the market for contemporary art has become so huge and so many people involved in it, that it simply must be maintained. It is obvious that many of the items on auctions to buy their own dealers and gallery owners to keep the right price to the authors. If you stop this support, it is possible that the market for some artists may collapse. Remember what happened to Banksy, his paintings were worth 100-150 thousand pounds, then there was a failure for several years, when with great difficulty, his work sold for 40-50 thousand pounds. Now, after a significant investment in its public relations, he again went up the hill. Contemporary artists, whether they like it or not, included in the global public relations of Modern Art: After Gerhard Richter (a truly wonderful artist) in 1997 received the Golden Lion in Venice, the price of his work during the year increased by 400%. It is true that to understand the pricing of Modern Art, at times, extremely difficult. For example, Japanese conceptualist He Kawara, painting paintings of the dates given day. When Kawara began in 1966, this series is painted white numbers printed on monochrome canvas print. In the first year, he created 241 jobs. His paintings I have seen the two gallery owners last year in Maastricht: one job in 1976 was worth 450 000 euros, and another, more recent picture, already 250 thousand. But why is so much a mystery to me. It will take at least several decades to understand how an artist is really worth it. We just think that there is a rapid rise in prices in this segment. Indeed, the multi-million dollar auction results in modern art create the impression that the market is in a growth phase. That was the whole of last year, but in the first half of this year, as the ARTIMX artinvestment.ru, in general the market is in decline.
- So what better to invest money? In modern works of art or antiques?
- Everybody decides for himself. Modern art - this venture (risk in the long term) investments, and investing in antiques - are reliable. Even in high-quality antiques crisis remains safe investment: prices may stop growing, but not fall. There were big problems with liquidity in the segment of medium and low quality products, and therefore lost by those who rushed to sell their stuff.

As the graph shows ARTIMX, the current index of Impressionist & modern art is almost recovered to 2007 levels - the first half of 2008, that is, prices have returned to high values ​​and become even exceed them in some cases. While contemporary art (and the recent financial crisis has demonstrated to us) lost 70-80%of the pre-crisis price and not nearly recovered to previous values. But, in terms of volume, lots of top modern art sold better than the old art market. For example, Christie's auction in May at the Contemporary art gain by selling 301 million dollars by selling 62 of the 65 lots. But I am sure that many works of art have been purchased no customers and dealers and gallery owners. And, at the very moment when they can not support market contemporary art (as it was two years ago), it will collapse. Of course such artists as Dali, Matisse, Kirchner, do not support, but I have no confidence that Maurizio Castellana or Takashi Murakami stand up in the distant future, though, as if no one can say.

[artist]

Сообщение от Artdealer

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there is no certainty that Maurizio Castellana or Takashi Murakami stand up in the distant future, though , like no one can say .

Naively as a ... Why not? Have full confidence that stand up . Price level - is another matter ... But give the gift does not start , and after any reduction will increase . It's obvious : if the goods are on the market (and struyacha every day on the canvas , he obviously is) , then there are a lot of people that are this good live.
And until such time as the children in school will not say that the calendar sheets of Murakami - nonsense (and it will not be the reason - above) , all hold out ))) In general, the reason for interest in iskusctvu today , alas, triggered marketing rather than the facts of the ickusstva , and not a natural need a shower.
So - Cattelan forever!