The damage suffered in the first place themselves auctions: when the crisis happened, they were left with a fair amount of guaranteed work and unsold in warehouses and, as a consequence, the budget deficit. The harm to consumers in this case is that because of the guarantees distorts markets are considered fair prices, the market in general and seeks to destabilize "zapuzyritsya.
Now head of Sotheby `s, Christie` s and Phillips de Pury (as they say, especially abusing guarantees) has publicly vowed to renounce them. Simultaneously, the auction houses began to develop departments of private sales, in which the auction operates as an art dealer. Thus, the trade rules Sotheby `s said that the house may be the owner of the lot or have a financial interest in it.
According to a gentleman
For sale by auction often resorted to quickly convert assets into cash. Number of passing through the auction houses works of art is such that experts can give many of them just a few minutes. Therefore, for centuries the British have cataloged auctions works "with the word gentleman," that is based on information received from the owner. The rules of trade Sotheby `s such a line is to this day. "We are not able to conduct full investigations - clarify rules Christie` s. - We recommend that you seek the advice of a personal professional experts, particularly in the case of particularly valuable items. "
In fact, it was thanks to the descriptions of "the gentleman with the words" experts can be found in a pile of old furniture or a table of Louis XIV found among paintings by unknown artists rare paintings and inexpensive to buy them. Possible and speculation: in Paris is now investigating the case "red-collar and technical workers holding an auction Drouot. Describing the auctioned property, they hid valuables or catalog them as worthless - so that later on the cheap to buy. Possible and the situation is different. In the London office Sotheby `s - Hall Olympia (which sell inexpensive products) - in 2005 a Russian bought a large canvas by Ivan Aivazovsky, described" the words of a gentleman. " You can imagine how he was disappointed when two years later, this picture appeared in the directory "Warning: may be fake!" like a painting of unknown artist first quarter of twentieth century.
There are errors and serious. In 2004, Sotheby `s only just managed to withdraw from their Russian Trading painting" Landscape with a stream "by Ivan Shishkin, which was estimated at £ 550-700 thousand turned out that the picture painted by the Dutch artist Marinus Adriaan Kukkukom and have been sold at auction for only Bukowskis $ 65 thousand is interesting that the experts of Sotheby `s, exposing the blade with almost one million estimate, would insure and claim expertise - made in the Tretyakov Gallery, she confirmed the authorship Shishkin.
The rate of candlesticks
What is estimeyt, or preliminary assessment, the buyer knows of any art. Almost everyone has heard about redundant and price - the one below which, under a contract with a seller's auction, to sell the product can not. Reserve price is not announced, it is usually slightly below the lower estimate. However, the starting price at which the auctioneer starts hammering - even lower. As the dialogue with Russian buyers, only a small part of them is, with whom they traded when they start bidding. For example, painting is estimated at 130-150 thousand, reserve price - 110 thousand, the auctioneer took the start with the 80 th "80" - signals a buyer. "90", - he meets the auctioneer, looking somewhere at the end of the hall. "Rival!" - Thinks the buyer and gives 100. "110" - meets the auctioneer. Buyer wound: "120!" But this time, no competitor was no bargaining going - on the auction slang - with chandeliers. Auctioneer is necessary to reheat the client, to endure it until the reserve price. Many learned of such a system, consider it cheating, but I had just read the rules of bidding, in which (in particular, at Christie `s) clearly articulated such a right auctioneer.
commission
Take interest on the buyer's auction house did not start immediately, for a long time to pay only the seller. In 1993, Sotheby `s and Christie` s agreed on a substantial, almost a third, increasing fees charged to clients. In 1999, those interested in the Antimonopoly Committee of the United States, it has grown into a major scandal - Chairman of Sotheby `s Alfred Taubman got nine months in prison and his colleague, Christie` s Anthony Tennant resigned. According to the court, the two auction houses were ordered to pay victims of their conspiracy to customers more than $ 600 million but less than three years since Sotheby `s announced an increase in interest from buyers (10 to 12%) for amounts exceeding $ 100 thousand , and two weeks later he was joined by Christie `s. Today commission Christie `s and Sotheby` s the same: 25%of the price "auction" of up to £ 25 thousand, 20%of the price of £ 25 thousand up to £ 500 thousand and 12%of the price over £ 500 thousand Thus for example, £ 300 thousand, announced at the auction, become a £ 361 thousand and £ 1 million - to £ 1,161 million
Competitors auction houses - art dealers - call such extortionate fees, however, until Sotheby `s and Christie` s cover such a large market share, they will do what they want.
Limited warranty
Guarantee of Authenticity - One of the main trump cards in front of galleries, auction houses, traditionally working "on parole". Often it is a guarantee of authenticity becomes a motive for which consumers prefer auction houses. In the largest of them the warranty period is five years - during this period, the buyer may ask the house to the claims about the purchased product.
However, this guarantee has limitations, detailed manner prescribed in the rules of trade Christie `s:" Christie `s guaranteed for five years from the date of sale, any property in respect of which indicated the author's name, is genuine and not a forgery." At the same time "Christie` s have the right to require the buyer to provide written evidence issued by two recognized experts in the field, mutually acceptable to Christie `s, and for the buyer, before Christie` s decide to cancel the sale under the guarantee. "
Returns, which became known to the public, very few, usually everything is decided behind the scenes. Among the examples that have received publicity - the story of a French multimillionaire François Pinault (who owns, by the way, auction house Christie `s). In 1998, he bought at auction Hotel Drouot in Paris sculpture of Pharaoh Sesostris III of the 5 million francs. But experts quickly declared the statue forgery (it turned out that it offered the Egyptian department of the Louvre, the experts whose statue once did not like). Only in 2009, lawyers Pino made the return of money.
A kind of Taylor Thomson in 1994, acquired at Christie `s in London a couple of vases made of semiprecious stones of Louis XV for £ 1,9 million Soon she doubted their authenticity, and asked the court to conclude that" vase with a 70-percent probability genuine, but since their description in the catalog unreasonably created the impression that there are no doubts, the auction house has not fulfilled its obligation to inform the buyer. To arrive at this conclusion, the court took ten years.
Numerous conditions and qualifications on the trade rules make it almost impossible to return the product if the auction house against it. The scandal of the last time - it fund Aurora Fine Art Investments, founded by Russian multi-millionaire Viktor Vekselberg, against Christie `s. Russian experts have rejected the authorship of Boris Kustodiev, whose name is painting "Odalisque" was purchased at auction for $ 2.9 million, but Christie `s not recognize these experts acceptable to themselves. The court in that case will begin in January 2011 and will clearly be a long one.
Tatiana Markina
(Journal of Money »№ 34 (791) on 30.08.2010
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