
A Portrait of the Russian Art Market Today
The Russian Art market continues to be one of the fastest growing and most exciting areas within the international art market. 2007-08 were marked by several record-breaking results in sales of both Russian Pictures and Russian Works of Art. Despite challenging economic conditions, 2009 saw strong overall sale results and in 2010 our sales have generated a dramatic increase in buyer activity which points firmly towards a revitalisation in the Russian Art market. Christie’s Russian Art sale at King Street in June 2010 achieved 35% more than our December 2009 sales, while the Pictures section demonstrated a phenomenal 92% growth on last season. One of the most exciting developments witnessed at Christie’s this sale season is a 42% increase in global buyer activity and a 71% increase in new registrants compared with our London sales held only six months ago.
A New Era
It was Christie's record-breaking sale of Ivan Aivazovsky’s St Isaac’s on a Frosty Day at the Russian Art sale in November 2004 which marked the beginning of a new era for Russian art auctioneering. The painting sold for £1,100,000, which at that time was the highest price for a Russian picture sold in a Russian Sale. Since then, record prices for Russian artists have been established, broken and reset every sale season in Christie's salerooms:
Christie's currently holds world-record auction prices for exceptional artists including Ivan Aivazovsky, Konstantin Somov, Isaak Levitan, Ivan Shishkin, Ilya Repin, Vasilii Vereshchagin, Yuri Annenkov, Baranoff-Rossiné, Petr Konchalovsky and Kuzma Petrov-Vodkin.
Increasing interest in and demand for Russian Post-War and Contemporary art has led to an expansion in this area of the market with works by artists such as Evgeny Rukhin and Vladimir Weisberg sought by collectors based in the CIS, U.S.A. and Europe.
Christie’s Expertise
Christie’s international Russian department has over 130 years of specialist knowledge and, with specialists based in London, New York and Paris, we offer a calendar of major sales throughout the year, in April, June and November. Our Russian & CIS Client Liaisons are happy to provide personalized assistance for our Russian speaking clients.
See also: Russian Works of Art & Fabergé | Добро пожаловать в Кристис
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International Department Head
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