Lazare Gallery is profiled in a new article in Distinction magazine. Since 2003, the gallery has been a destination for American and Russian collectors in search of Soviet-era Realism. As the market for this work has grown, so has Lazare’s reputation. Vern Swanson, an American art historian and collector of Soviet official art, identifies Lazare as the second largest collection of its kind in the US.
As the market has grown, the demographics of collectors have also shifted. Today Russian clients increasingly dominate the market for Soviet Realism.
Frontier-style capitalism in the new Russia spun off billionaire ‘oligarchs’ who moved aggressively to acquire their homeland art. Nine out of 10 purchases at auction these days are being taken back to Russia, says Swanson, the Utah museum director and consultant. Last summer, the Wurdemans sold two Yuri Kugach paintings to the art foundation created by Russian port and transportation oligarch Andrey Filatov.
Even in the heart of the recession, the market for Russian Realism has endured. The secluded Lazare gallery does not rely on foot traffic or impulse spending. It takes a long-term, slow-paced approach to its relationship with clients.
The Wurdemans’ goal is to connect with a few new serious collectors every year, earn their trust, and bring them back.
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