Strong Market

2010 was not a good year for most business, but it was a great year for Russian art. Sotheby’s alone sold $82 million. Christies sales – in all categories – shot up 53% in 2010. William MacDougall, of MacDougall Auctions told The Epoch Times, “Like most markets, Russian art suffered in the economic crisis, but it has been in recovery since April 2009. Over 90 percent of the buyers are based in Moscow and Kiev, where the economies are growing. Good works attract buyers, and new world records have been set since the crisis.”

Upcoming sales include Sotheby’s sale on April 21 and 22, and Christie’s sale on April 13 in New York.

Lazare Gallery’s Moscow River School exhibition is just wrapping up in Sarasota, FL. A new show of Vyacheslav Zabelin will be up from February 4 to March 11.

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Radio Piece on Art Market Recession

The BBC produced a radio piece on the art market recession. It provides an interesting take on how value is changing in the art world, perhaps for the better. Here’s an excerpt from the accompanying article:

“There is a view that this is all a good thing.

If you do like art, runs the argument in the trade, a collapse of silly prices might winnow the over-hyped rubbish a bit like a fire clears land of weed for new growth.”

And, from the radio piece:

“A really great bubble raises the price of everything, but also, that which is most worthless.”

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