Art Market: Prospects for 2009

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Express, 30.12.2008

Robin Mason


The last quarter of 2008 was marked by a financial crisis that affected the art auction of the first half of the twentieth century, and more - at the auction of contemporary art. All the auction houses are aware that the volume of transactions should fall, and try to adapt to new situations. So, Guillaume Serutti, president of the French branch of Sotheby's, has publicly admitted that "the crisis does not stop at the threshold of our vystavocheogo hall. Despite the good results for 2008, he was alarmed - this year will be difficult. Representatives of the houses Artcurial, Christie's and the Drouot also express their concerns.

All of the art market professionals emphasize that in order to achieve satisfactory results, it is necessary to revise the policy evaluations. More realistic estimates can attract buyers, while at the same time not frighten off potential sellers. For the sector of modern art, this revision is a prerequisite for successful bidding. Hence, in this sector can be expected to reduce prices by 30-40%, a return to reasonable prices, after years of speculation.

Another priority, which should ensure a satisfactory volume of transactions - to offer things of the highest quality. Remarkable product with impeccable origins will always find a buyer, whether an old painting, Art Deco objects, works of contemporary artists, they are the engine of trades and influence the general level of prices. Thus, in late February, Christie's in the Grand Palais is organizing the sale of the collection of Yves Saint Laurent and Pierre Berge. This collection consists of extremely rare and sophisticated things with the prestigious origins - is all that is necessary for all the six tenders for 3 days were a "bargaining century. Many predict that these tenders will be sold for an amount not less than 300 million euros. If these sales are successful, they will have a beneficial impact on the market - both buyers and sellers will relate to the future with great confidence.

Another way to "bypass" the crisis - to shift the focus to malospekulyativnye sectors. Sotheby's has already announced that March 25 auction will take place a considerable collection of drawings by old masters, and in April - sale of books and manuscripts.

Artcurial also stresses the importance of new sectors that have remained completely untouched by the crisis. One of these sectors is a comic strip, which is the number of collectors is increasing. Artcurial, which leads in this sector, intends to continue its efforts to promote the comic.

But one way or another, and 2009 did not have to extravagant acquisitions, and the buyer is only on hand - the chance to buy a rare thing for a very reasonable price increases.