At a preliminary show in Moscow for Sotheby’s fall auctions in London, representatives of the auction house had good things to say about the state of the Russian market.
Lord Poltimore, Chairman of 19th and 20th century paintings told The Voice of Russia:
“The statistics of the last year show that the sale of Russian art increased by 26%. Probably the most popular are works by impressionists of the 20th century – some people are ready to pay incredible sums for them. Mostly, the buyers are Russians, but it seems that since recently, they have serious competitors – the Chinese. The coming auction promises to be very lively and interesting. ”
And Jo Vickery, head of Sotheby’s Russian department reported:
” Last year, Sotheby’s Russian auction collected $ 88 mln. I suppose that this year it will be about 90 mln or a little more, to make but a modest forecast. The Russian market has already recovered from the crisis of 2008. Now, it is again stable and predictable – and very important for us.”
Link to full article from The Voice of Russia.