Auction house Christie `s published the results of its activities for 2008

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Auction house Christie `s published the results of its operations for the year 2008. Total sales were the result of £ 2,8 billion ($ 5.1 billion) and showed decline in sales compared with last year by 11%in pounds, or 19%in dollars. This decrease is distributed to different sectors of the art market is uneven: the Impressionists and modernists lost only 8%in pounds (17%in dollars), and Russian art - 55%in pounds (59%in dollars). The details - TATIANA b-Markin.

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Diversification and Segmentation - apparently, these words will become the principal in the near future for the art market analysts. The fact that the background of economic crisis Arts cheaper and demand for it has abated, it was clear and without any figures. Detailed reporting of the auction house Christie `s, bringing the public, shows that cheaper and diminished unevenly. Section of impressionist and modernist art, which each year has been the most profitable and sustainable, not slowed too much, especially if you count in pounds sterling - just 8%(17%in dollars). Some sections of the market, such as the art of Asia, generally in positive territory (the volume of sales in 2008 increased by 15%in pounds and 4%in dollars). Curse for the incredible price of postwar and contemporary art sales results by many even before the crisis, called a bubble, has lost in revenue 23%in pounds or 30%in dollars - almost as much respected, stable and unfashionable paintings and drawings by old masters (minus 21 and 29%respectively).

Record losses suffered sect of Russian art - in 2008, the volume of its sales fell by half (minus 55%in pounds, or 59%in dollars compared with last year). However, Christie `s never been a leader of the gross sales of Russian art auction house trump card of this were the Impressionists, Modernists and contemporary art. To clarify the trends in the market of Russian art, will have to wait for reports Sotheby `s, which, apparently, will be published no earlier than March.

"Recent results and expected outcomes of future trading provides a reasonable basis in 2009 to make the positive forecasts for the global art market, which steadily growing demand for unique works of art at fair prices," - said Edward Dolman, president of Christie `s International. As with any president, his task - to name obscure, pleasant and common words all the obvious specific trouble. Recent results - the outcome of this off-season trades impressionists and modernists, and contemporary art in London. In the overall results are quite good: even the most risky, just past auction Post-War & Contemporary Art has sold 79%of lots that seem to be fine. However, neither the work of the stars of trades last year, Francis Bacon (a record for his paintings are $ 86.3 million paid in May 2008), no painting of Mark Rothko (a record $ 72.8 million, May 2008) is not sold out. At the auction was billed almost three dozen lots, and the total revenue amounted to just £ 8,4 million ($ 12 million).

Other prices, appears to have reached the said "fair level". For example, an excellent example of Italian abstract expressionism "burning plastic" in 1956, Alberto Burri has just sold at Christie `s for £ 825 thousand ($ 1.2 million). A week ago on similar auctions Sotheby `s sold the painting in 1961 another Italian, Lucio Fontana, for £ 4,4 million ($ 6.4 million). That is the good stuff is still sold for good money. But two questions remain open, rather, by the way, close to the Russian mentality: Does this mean that the prices of past, pre-crisis years were "unfair" and where to complain to those who have already paid? http://www.kommersant.ru/doc.aspx?DocsID=1117617