The first effects of the crisis

[Meister]

« Blood Bath at auction Street art (http://artinvestment.ru/news/auctnew...on_failed.html)
ARTinvestment.RU - 30.09.2008, 06:59

September 27 in London fell flat auction of contemporary art and street art, which were presented, in particular, works by Banksy - graffiti main stars of recent years. At the auction house Lyon & Turnbull's customers have found less than a third of the 270 lots.

Over the past three years the price of street art have reached record levels, but the last auction shows that not everything is running smoothly in this market segment. According to art dealers, reducing the demand for "street art" due to instability in the economy. Now those who can buy art, buy Picasso (Pablo Picasso) and Francis Bacon (Francis Bacon). And buyers of works Banksy and other street artists who are not among those who do not mind spending millions on art. For such buyers financial crisis has hit hardest. The middle class is not up to art. And of course, only added fuel to the fire that some of the works of Banksy, exhibited at Lyon & Turnbull's, were recognized as fakes.


So what is the reason for failure? in the presence of fakes, or indeed in crisis? people prefer to keep money under the pillow?

[SergeiSK]

The problem is likely still in crisis. In Russia, the tendency to decrease or increase the demand for Russian art show autumn Russian Trading on the leading auction house. In their sales will be seen as Russia feels the middle class. Already the 3rd of October, after the Stockholm auction to clear. In the West the crisis hit harder, and therefore reducing the demand is clear. Although not all authors.

[Meister]

I think Stockholm auction will not be the first to rate ... will be an important indicator of Antique Salon in late October in the CHA, and then trading in London ... but the reduction in the activity begins to be felt, although I wonder where else can more safely and keep the money as not in the objects of art?

[SergeiSK]

Stokgolmsy auction could set a trend, because He was the first, which will increase (well or not) to follow the trends and auctions. There are a number of lots has traditionally bought Russian for decent money.

Сообщение от Meister

where more can be more reliably save money, if not in the objects of art?

Definitely agree! Especially now, when shopping becomes more profitable, because the number of real buyers will decrease, and thus speculative trading is not expected.

[Meister]

Сообщение от SergeiSK

Stokgolmsy auction could set a trend

I think he always was not the most successful auction ... but a certain trend, you're right, he asks ...

In the art market is no bad weather) will not demand, that means things will be cheaper)

[Кирилл Сызранский]

No current auctions will not give an indication of future trends or Stockholm or London, nor with the Russian Bruun Rasmussen auction this November Salon XXV in CDH with 18-October-order bolee.Seychas all waiting and waiting nal events in the market, but they budut.A here later start "Jordania", that's been tested "Previous similar sobytiyami.U us, that's for sure.
And in general: There is an old view that the return on investments in art and antiques-15-20%in the "lean" years, and during periods of volatility 100%. It is possible that this formula is derived for complacency, but I like it and looking back (I do not like) I can not see a time when a iskussvo stopped buying altogether.
And at the salon will be interesting, soglasen.Interesno that Westerners for sale, we will bring and how much (and for how much).

[SergeiSK]

Сообщение от Cyril Syzransky

But the later start "Zhor

That's it! And before "zhorom" there is always a recession, which is about to begin. Or is already underway. On it, and you have to buy. Here's waiting for tomorrow's auction

[Meister]

Сообщение от Cyril Syzransky

It is interesting that Westerners for sale, we will bring and how much (and for how much).

Well, firstly, there are no Westerners. Basically, there are Russian galleries, you're probably him with Fine Art mixed up ... and secondly, if it is currently active all sold out, so people prefer to transfer money derived from the financial markets in the art market, and it set the tone for the market on the trail year. If on the contrary, auctions will be a failure, so now the majority is not prior to this ...

[Кирилл Сызранский]

Meister, as the Westerners do not exist? What are you? Maybe mixed picture, but some things are obviously with Zapada.Vspomnite April Salon. (Not Fine Arts, namely, antique ,24-th) Recall who brought Yakovlev, Luba, Malyavina? That I think of top-end, hit things.

[Meister]

Well, let's specifically by name, if you remember? which there were well-known western gallery?