Art Market between hell and purgatory

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Vincennes Nose
Libération, 17.03.09

"I thank Meydoffa and others like him. This review unbanal made one of the participants in an antique fair in Maastricht, and it perfectly sums up the situation on the art market.
Over twenty years of its existence, the salon in Maastricht, Tefaf, has become a place where all the main actors of this market. "Thanks Meydoffu - continued to host the gallery specializing in original graphics - I was able to put such works as this kind of Chicago! I sold it a year ago, and recently was able to redeem him from his client who has lost a lot of money on the Stock Exchange ".

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This year, do not see a feverish search for treasures, but among the participants there is some nervousness: French, overstocked on sale a collection of Saint-Laurent, almost not visible, the Americans too much less than usual.

The budgets of museums in the U.S. have been reduced by 30%. The world was shocked by a statement of art at Brandeis University (Massachusetts) that the collection of university-6000 works of contemporary art and design - can be sold, and the museum is closed. Obama himself has expressed his displeasure.

However, as the Salon in Maastricht, the participants were all more likely to smile. Nicolas Kugel said that "sold very well," adding that: "I do not know to what extent these excellent results are a consequence of successful sale of the collection of Saint-Laurent, in fact we were one of its major suppliers. Money passes from hand to hand: 5 million euros for a portrait by Rubens, 1 million for the work of Kandinsky on the paper.

Jeweler Laurence Graff once again confirmed its reputation as a buyer, overpay for mediocre work: 3.5 million for minor Basquiat.

Sale Saint Laurent collection and contributed to the success of decorative art. As for painting, at the stands are works by El Greco, Le Brann, Zurbaran, Schiele ... A new section design allows to get acquainted with Jugendstil Northern Europe. Gallery Kryuzhe decided to prove that the death of the founder of its activities are not stopped.

But contemporary art is steeped in its absence. In February lodnonskie trades in this sector brought on the strength of 15%of the results of last year. Fair in Dubai, failed completely.

All the illusions were shattered. Crisis divides the market: the Common Market of art no longer exists, there are about hundreds of different markets - explains economist Clare McAndrew - "the most affected markets, which have been most closely associated with the financial markets, at a time when other markets, by contrast, both beneficiaries move the interests of investors.