Sotheby auction. Russian Auctions - Russian Auctions
Sotheby's is one of the oldest auction houses, which, together with Christie's, occupies 90% of the antiques and art sales market in the world. Founded in 1744 in London by bookseller Samuel Baker as a private club for aristocrats.
Over its more than 250-year history, Sotheby's has honed the art of auctioning to perfection, constantly modernizing the process. Modern innovations, such as broadcasting auctions and accepting bids online, allow you to participate in auctions from anywhere in the world.
Historical facts indicate that auctions (from the Latin auctio - sale at public auction) existed back in the 5th century BC. e. in Ancient Babylon and Ancient Rome.
With the fall of the Roman Empire, auctions were closed and reappeared only in the 13th century in France. The emergence of modern auctions is associated with the Netherlands, where the first book auction in Europe was held in 1599. The history of Sotheby's auction house begins on March 11, 1744, when Baker's auction house opened. The founder of Sotheby's was the bookseller Samuel Baker, who held his first auction in 1744 in London and published the first fixed-price book catalogue. In 1754 Baker opened a permanent auction hall.
In 1778, the business passed to Baker's nephew John Sotheby, whose heirs headed the firm for more than 80 years. From this year, the company became known as Sotheby’s. During this period the company expanded its activities into the sale of engravings, coins, medals and other antiques, but its main business remained bookselling.
In the 19th century, Sotheby’s established itself as the world’s largest auction of book rarities. His auctions included the richest libraries, including those that belonged to prominent historical figures: the libraries of the Dukes of York and Buckingham, Napoleon's library, which he took to St. Helena, the collection of books by Charles Maurice de Talleyrand and many others. In 1909, Member of Parliament Montague Barlow, as well as entrepreneurs Felix Warr and Geoffrey Hobson, became the owners of Sotheby's. During this period, Sotheby's began to sell not only books, but also paintings.
Expansion of priorities
After the First World War, the new management of Sotheby's took up the sale of fine art and paintings by old masters. Gradually, Sotheby’s auctions began to turn into large-scale cultural events, which was facilitated not only by the quality level of the lots offered, the elite list of clients, but also by the location of the auctions.
In 1917 the firm moved from Wellington Street to 34/35 New Bond, in the very center of London. This building once housed the workshop of Monsieur Gustave Doré. At the entrance to the new residence of the company, a black basalt figure of the Egyptian goddess Sekhmet (goddess with the head of a lioness) was installed, which became a kind of emblem of the auction.
In 1936, the post of director of Sotheby’s was taken by Peter Wilson, with whom the brightest era in the history of the auction is associated. Ahead of his competitors, he was the first to appreciate the prospects of the foreign art market. His achievement was the triumphant sales of works by impressionists and modern artists. For the first time, it was possible to attract the attention of clients to the art of modern times and turn the works of these masters into expensive lots.
It was then, in the second half of the 1940s, that there was a significant increase in the company's profits, determined by the stability of the post-war economy. From 1946 to the end of the 50s, sales increased from 1.5 to 6 million pounds sterling. The company's entry into the international scene was the creation of the Sotheby's branch in New York in 1955.
An important success and a notable milestone in the history of Sotheby's was the sale in 1958 of the collection of the impressionist Jacob Goldschmidt (a major German banker who emigrated to the United States in the 1930s). For the first time in London, paintings sent by a seller from overseas were sold. The seven paintings on display sold out in just 21 minutes. Revenue amounted to 781 thousand pounds sterling - a record amount for painting sales at that time. Trade in works of art has now become a big business with its own specifics and intriguing surprises, and news of international auctions made it to the front pages of world publications.
Conquering America
Wilson's indefatigable energy contributed to the rapid international development of Sotheby's. He created a large network of branches around the world, which is still expanding to this day. Branches in those years were opened in Paris, Los Angeles, Zurich, Toronto, Melbourne, Munich, Edinburgh, Johannesburg, Houston, Florence.
In New York, Sotheby's acquired the largest American antiques firm, Park-Burnet, in 1964, and after a successful merger of companies, they managed to conduct several stunning sales that went down in the history of the antique business and determined a new level of prices for paintings. The development of business in the USA was connected not only with global ambitions, but also with the fact that taxes on the sale of antique paintings in this country are much lower than in England.
However, in the early 80s. Sotheby's almost went bankrupt, and itself became the target of a takeover by Brooklyn carpet manufacturers, and in 1983, a controlling stake was bought by the American Alfred Taubman, owner of the international chain of supermalls Taubman Centers. Under his leadership in the 80s, the company's turnover began to grow, and trading regularly demonstrated positive price dynamics.
In 1985-1986 over 80 works of art were sold for more than one million dollars. No auction company in the world had such results. In 1987, Sotheby's profit growth was 85% of the previous year, and sales exceeded a billion dollars for the first time. The sensations of 1990 were the sales of the collection of Greta Garbo ($20.9 million), John Constable's landscape "The Dam" (10.78 million pounds sterling) and the 13th century manuscript "Bestiary of the Duke of Northumberland" (2.97 million pounds sterling) . Sotheby's sales in 1990 were already $2.4 billion.
The economic crisis due to the Gulf War significantly affected the world business, including the auction business. Since the end of 1991, Sotheby's annual turnover began to decline. The price level for contemporary art and works of the Impressionists has especially deteriorated. However, since 1993 the market has stabilized. In 2000, Taubman resigned as head of Sotheby's and was replaced by William Ruprecht, who previously served as director of the American department. He is still the president and CEO of Sotheby's today.
Sotheby's headquarters are located in New York and London. At the beginning of 2000 both of them expanded their areas. In addition to the house on New Bond Street, there was an office in Kingston, a historic suburb of London. The main American office on York Avenue was renovated and grew six floors. A luxurious gallery was built at a cost of $130 million and was praised by the press as one of the most significant exhibition halls in New York.
Russian trace
A striking milestone in the history of Sotheby's was the creation of the Russian branch. Commercial interest in Russian art in the Western market intensified by the mid-70s. In 1974, Sotheby's decided to hold the first auction of Russian art from the Diaghilev circle in New York; auctions began to be regular since 1984.
The peak of commercial interest in Russian art was in 1989. Its results were stunning. Things went away, compared to the starting price, by a huge margin. The consequence of these auctions was a real boom in the Russian avant-garde. At the same time, prices for paintings by Russian realists of the 19th century and painters from the “World of Art” increased sensationally, tenfold.
The heyday of these auctions is associated with the names of brilliant connoisseurs of Russian art and Sotheby's experts - John Stewart and Ivan Samarin, as well as a specialist in the Eastern European market Peter Batkin. It was they who determined the level and quality of Russian auctions until 1996. By the way, Sotheby's became the first international auction house to sell a collection dedicated to Ukrainian art of the 20th century. Most notable was the collection of 86 paintings created by a group of artists from the Society of Independent Artists, or Odessa Parisians, as they are sometimes called.
The collection was assembled by Yakov Peremen, a central figure in the world of Odessa art at the turn of the 20th century. At auction in New York in 2010, the collection sold for almost $2 million and is currently on a world tour. Trade in old Russian art is considered a promising area, but so far does not go beyond 1% of the company’s total turnover.
Sotheby's canons
Sotheby's operates according to the English type of auction. An English (or ascending) auction is based on setting a minimum price for further bidding, during which the price gradually increases, and the item goes to the highest bidder.
The second type of auction - Dutch or top-down - starts with a very high price and is conducted with its gradual decrease. The item or product goes to the one who was the first to “intercept” the reduced price. With BidNow, customers can monitor all Sotheby's auctions and bid in real time online from anywhere in the world. All Sotheby's auctions are free and open to everyone, and it is not necessary to participate in the auction - you can just be a spectator.
Most auctions are held during the day, some in the evening, and require a ticket to attend. A week before the start of the auction, the lots are exhibited in the halls of the auction house. They can also be seen in the catalog, which appears about a month before the event. One of the determining factors for a successful auction is the preliminary assessment of the proposed works. In addition to fashion, the author’s place in the history of art, genre, technique, rarity and preservation of the work, its price is influenced by the so-called provenance of the painting (from the English provenance - origin, source).
This is a kind of “biography” of the work: author, date, which collections it was in, which exhibitions it was exhibited at. Interesting provenance can significantly increase the price level of the auction. To participate in the auction, those wishing to make a purchase must register and receive a token. If the client cannot be present during the auction, he makes a purchase by telephone or leaves a written application in advance, which indicates the maximum price he is willing to pay for a particular lot.
The successful buyer should keep in mind that the hammer price is less than the actual purchase price: it will be necessary to pay a commission to the auction, as well as various taxes applicable in the country in which the auction takes place. For a long time, Sotheby's commissions were charged only to the seller, but now the buyer also pays for auction services. They amount to 12-25%, depending on the auction price of the lot - the higher it is, the lower the percentage.
Sotheby's records
Since 1988, Sotheby's auctions have provided access to the results of their auctions. The fact that their activities became public domain not only increased their credibility among collectors around the world, but also made it possible to make each auction a grand event, where the most famous personalities from all over the world are invited.
This made it possible to influence market conditions and dictate trends in the art world. After all, nothing shows the value of a job more than the amount paid for it. Thus, the most expensive painting was Pablo Picasso’s “Boy with a Blue Pipe” (1905) $104.2 million, sold in 2004. The most expensive sculpture was “The Walking Man” by Alberto Giacometti (1961), sold in 2010 for $103.7 million. And the most expensive gemstone was the 24.78-carat pink diamond “Pink Count,” sold in 2010 for $46.2 million.
In addition to price records, there is a huge number of unusual and exclusive lots sold. For example, the Vostok 3KA-2 space capsule, which went under the hammer for $2.8 million. This auction took place in April 2011, on the day of the 50th anniversary of the first human flight into space. The Vostok capsule is now on display in a Russian museum.
Another example is a sheet of paper with the words to the song “One Day in the Life” handwritten by John Lennon, sold in 2010 for $1.2 million. Having become the largest player in the art market, the auction house did not abandon its traditional business, trade book rarities. The most expensive book was sold for $12.4 million in 1983. This is the Gospel of Henry the Lion, the 12th century monarch of the Welf dynasty, Duke of Saxony and Bavaria.
Sotheby's of the 21st century
Currently, the auction house has a wide network of branches (90 branches in 40 countries around the world) and every year organizes 250 auctions in more than 70 areas (works of fine and decorative arts, books, manuscripts, prints, ceramics, jewelry, furniture, musical instruments, photographs, watches, wine, etc.).
Sotheby's holds auctions in ten halls: London, New York, Paris, Milan, Geneva, Amsterdam, Zurich, Toronto, Hong Kong and Doha (Qatar). Every year more than 250 thousand lots are put up for auction. Sotheby's not only conducts auctions, but also makes private transactions with antique collectors and museums.
In addition, Sotheby's is involved in property appraisals (the results of which are recognized by tax authorities and insurance firms in the client's country), the sale of luxury real estate around the world, and also supports the activities of the Art Institute. Sotheby's Institute of Art trains students in Europe, the USA and Hong Kong. It trains future art critics, exhibition curators, art dealers - specialists in the fine and decorative arts of the West and East. The institute also conducts advanced training courses for established professionals.
As the head of the subsidiary assured, the arrival of Sotheby's in Russia means "a meeting place for art and money. And this place cannot be changed." Having trumped the catchphrase, the Russian art critic noted that over the past five years the market for Russian art has grown tenfold.
Answering the question from RG, “Wouldn’t Sotheby’s be a kind of corridor for “sucking out” artistic values from Russia to the West,” Kamensky noted that “the idea of a corridor is false.” According to him, the entire daily practice of Sotheby's on the world market and its activities in 35 countries around the world indicates just the opposite. Firstly, Sotheby's will contribute to the return of capital to Russia, the best works of both Russian and world art. Secondly, it will help establish a more transparent market in Russia. In accordance with its code of ethics, Sotheby's will contribute to the "whitening" of the "black" money that today, as is known, circulates in large quantities on the Russian antique market.
“This market today is largely “black”, largely “gray” and very little “white,” said Kamensky. And Sotheby’s, as a powerful structure, has great opportunities to work only on a “white” basis. At the same time, the head of the Russian office emphasized that the presence of Sotheby's as a separate legal entity on the Russian market means a response to the increased demands of the Russian audience.
The fact is that recently the purchasing power of lovers of Russian and foreign art has increased significantly. And this is not due to the fact that in Russia the middle class has become richer, but, according to the expert, the rich have become richer and there are significantly more of them. Today there are several segments: super-rich, medium-rich and low-rich. Actually, these three categories will be the basis for Sotheby's work in Russia. It is estimated that there are several thousand such people. This, of course, is not tens of thousands, as for example in America. But from a financial point of view - a “mighty bunch”.
Speaking about what the activities of the Sotheby's office in Russia will consist of, its head clarified that the emphasis will be on information services to potential clients. Office staff will keep Russians informed of the latest trends in the global auction art market and create a database of potential buyers. The representative office plans to actively cooperate with all private collectors, owners of private galleries, art dealers, representatives of state museums, Russian experts, appraisers and even bankers. Yes, in the plans of the representative office a large place will be devoted to interaction with financial groups and banks. As Kamensky said, today almost every major bank has divisions for working with private clients, who expect a wide variety of services from banks, not excluding the purchase and lending of masterpieces of Russian and world art and antiquities.
The peculiarity of the activities of the Sotheby's office in Russia today does not involve holding auctions directly on Russian territory. Since neither tax nor customs legislation contributes to this. However, being a legal entity, an independent company, the Sotheby's office has the right to engage in various financial transactions in the antiques market and private sales. From this point of view, the economic interest of the state is obvious. As a company registered in Russia, Sotheby's will pay taxes. True, Mikhail Kamensky refused to estimate the potential volumes of transactions on the Russian market. According to him, the process will show. But the trends are such that with the arrival of Sotheby’s, not only the Russian antique market, but also the very format of Russian weeks abroad may change. Of course, for the better, that is, towards increasing monetary profits. Answering questions about whether at auctions of such a level as Sotheby's, the appearance of counterfeits and forgeries, which are particularly common in the Russian market today, exists, Kamensky noted that the criminal world is initially present in the world art market, fabricating fakes. But the task of a respectable auction house is to prevent them from appearing at auction. And Sotheby's professionally fights counterfeits. There are no things that would go to auction without the most complex examinations. But if it is nevertheless proven that it is a fake, then the client receives 100 percent compensation.
As for receiving visitors on personal matters, those who, for example, want to offer an item from their private collection or a painting to Sotheby’s, the Sotheby’s office in Russia will also work with such clients, Kamensky noted. But at the same time he emphasized that in the form of consultations. Experts do not propose to provide intermediary services for the export of certain valuables abroad. Consulting means that clients will be provided with maximum information about whether a particular item will be quoted at a Western auction and what documents are needed in order to legally withdraw this item. At the same time, Kamensky emphasized that the Sotheby’s office has the best relations with the main state “permitting” organization for the export of cultural property, Rosokhrankultura. These are our colleagues, partners, friends, Kamensky noted.
By the way, he did not rule out that another world-famous auction house, Christie’s, will soon join the Russian market.
Help "RG"
In 2006, Sotheby's auctions of Russian art in London and New York raised more than $153 million. Today this is the largest amount of all world sales of Russian art. And the annual turnover of Russian art over the past six years has grown 20 times, from 7.46 million dollars to 153 million, and since the beginning of 2007, Sotheby's Russian weeks have already collected 56.1 million dollars.
Recently, cultural life around the world has been increasingly influenced by the phenomenon of art auctions. The world's largest media (newspapers, magazines, television, radio, and online publications) are filled with sensational news from auctions. These messages and numerous comments attract much more public attention than publications about unique exhibitions of masterpieces of art and news from the largest museums in the world.
Auctions (lat.auctio - sale at public auction) are a common way of selling goods based on a buyer competition. Auctioneers perfectly take into account human psychology and rely on excitement, in which buyers, by inertia, inflate the price to the delight of auctioneers and sellers.
Everything is sold at auctions (antiques, paintings, land, real estate, shares, vintage wine, letters from celebrities, jewelry and even children's drawings). At the same time, a variety of problems are effectively solved: from purely commercial to charitable ones.
It is believed that auctions existed already in the 5th century BC. e. in Ancient Babylon (they sold girls for marriage) and in Ancient Rome. With the fall of the Roman Empire, auctions were closed and reappeared only in France in the 13th century. The emergence of the modern type of auction is historically associated with the Netherlands, where the first book auction in Europe was held in 1599. The auction sale of books was picked up by England (in 1676), which became the birthplace of the largest auction houses in the world. In developed countries, there are now auction houses in almost every major city. There are several types of auctions, but the main ones are “English” (“bottom-up”) and “Dutch” (“top-down”).
An English auction is based on setting a minimum price for further auctions, during which the price gradually increases, and the item goes to the one who set the highest price (this is how, for example, both major auction houses Christie's and Sotheby's work).
The Dutch auction starts with a very high price and proceeds with a gradual decrease in price. The item or product goes to the one who was the first to “intercept” the reduced price. This form is actively used now, for example, at auctions of tulips or fish, that is, where something needs to be sold quickly.
The larger the auction house, the more versatile its activities (from antiques and fine art to collectible cars and musical instruments). Trading sometimes takes place several times a day, including in on-line mode, and begins to resemble stock exchanges, although the turnover is still not comparable.
Antiques, paintings, graphics and sculpture are the core of any major art auction. This is, as a rule, a secondary art market, that is, it does not sell new works, but what was created earlier, then bought or inherited.
One of the most determining factors for a successful auction is the preliminary assessment of the proposed works. In addition to general fashion, the author’s place in the history of art, genre, technique, rarity and preservation of the work, its price is influenced by the so-called. provenance of the painting (English provenance - origin, source). This is a kind of “biography” of the work: author, date, which collections it was in, which exhibitions it was exhibited at. Provenance is usually provided in auction catalogs to confirm the authenticity of an item. Interesting provenance can significantly increase the price level of the auction.
Each auction offers detailed instructions for sellers and buyers. Usually the auction is accompanied by a pre-auction exhibition, which opens a few days before the auction.
A catalog is prepared for each auction, which can be purchased or viewed on the auction website. The catalogs provide information about specific lots (individual objects or groups of objects offered for sale as indivisible units), as well as the pre-sale price range within which a specific lot is expected to be sold.
To participate in the auction, those wishing to make a purchase must register and receive a token. If the client cannot be present during the auction, he can make a purchase by phone or leave a written request in advance, which indicates the maximum price he is willing to pay for a particular lot.
The successful buyer should keep in mind that the price in the auction room (English “hammer price” - the price after the hammer hits) is less than the actual purchase price: it will be necessary to pay the auction commission, as well as various taxes applicable in the country in which the auction takes place bargaining.
Today, perhaps, everyone knows about the two “pillars” of auction trading, the oldest English houses Sotheby’s and Christie’s. The Sotheby's auction house was founded more than 260 years ago in London.
Its date of birth is considered to be 1744, and its founder is Samuel Baker. He started out in the book trade and quickly amassed substantial capital. In 1767, Samuel's nephew, John Sotheby, began working at the company. After Baker's death, the company became known as Sotheby's. Gradually, purchasing lots at her auctions began to be considered a sign of good manners and a guarantee of serious investments. Sotheby's central halls are located in London on the elegant New Bond. This is where spectacular performances worth hundreds of millions of dollars are staged. Sotheby's entry onto the international stage was the creation of a branch in New York in 1955. Then a large network of branches was created around the world (in Paris, Los Angeles, Zurich, Toronto, Melbourne, Munich, Edinburgh, Johannesburg, Heusten, Florence, etc.).
In 1990, the turnover of all Sotheby's branches reached more than $2 billion.
The entire history of Sotheby's is brilliant evidence that trading works of art is profitable, prestigious and promising.
One of the first to capture the fine arts market was another major auction house, Christie’s, whose history began on December 5, 1766, when its founder, former naval officer James Christie, opened the first auction. Soon he already owned a premises in London with an auction hall specially built for him.
It is believed that the largest auctions of the 18th and 19th centuries took place here. And by the way, none other than James Christie himself mediated the deal to sell the famous collection of paintings by Sir Robert Walpole, who is considered the first British Prime Minister, to the Russian Empress Catherine II. This deal laid the foundations for the future Hermitage Museum.
The most important achievement of Sotheby's and Christie's in the 20th century was the triumphant sales of works by impressionists and modern artists. For the first time, it was possible to attract the attention of clients to the art of modern times and turn the works of these masters into expensive lots. Trade in works of art has now become a big business with its own specifics and its own surprises. In recent years, the two auction giants have managed to pull off several stunning sales that have gone down in the history of the business and determined the modern level of prices for art objects. The amazing news of the auctions became the property of the front pages of the press around the world.
Although today the auction houses Sotheby's and Christie's control up to 90% of the world's auction sales of antiques and art objects, they, of course, do not exhaust the variety of auction houses in the world. There are several other important “players” in this market, such as the oldest auction house in Germany “Kunsthaus Lempertz” (Cologne), the temple of French auctioneers “Hotel Drouot”, the most famous auction house in Austria “Dorotheum” and others.
It is safe to say that new sensations at auctions will not be long in coming, and we will once again find ourselves witnessing intriguing events in the world of art.
The exhibition includes video recordings of the auction; excerpts from interviews with the organizers and participating artists; VR installation that allows visitors to witness the auction; archival materials demonstrating the controversial attitude towards the auction that continues to this day. Also on display at the exhibition are some of the works that participated in the auction, including a drawing by Varvara Stepanova (circa 1924), “Clown. Scene in the Circus (1935) by Alexander Rodchenko, Fundamental Lexicon (1986) by Grisha Bruskin (sold for a record £242,000) and All About Him (1971) by Ilya Kabakov. The latter work was acquired by Alfred Taubman - then chairman of the board of directors of Sotheby's - and donated to the Soviet Ministry of Culture as the first work for the future Museum of Modern Art of the USSR.
The Sotheby's auction marked a change in the Soviet political landscape and was the last international cultural initiative of the perestroika era to require Soviet government approval. It also proved to be one of the most successful trade exchanges in Soviet culture, changing the position of the Union of Artists and other official institutions under the Ministry of Culture, which quickly realized the benefits that Western interest in unofficial art promised - an interest that could become a source of foreign exchange.
However, the record prices set at the auction, which took the Soviet and Western art world by surprise, could not withstand the collapse of the Soviet Union and collapsed along with it. At the same time, Russian Sotheby's led to the elimination of the rigid division between official and unofficial culture, introduced a spirit of competition into art and caused a new wave of emigration among artists who sought to take advantage of the intense international attention that the auction generated. Over time, the auction acquired a mythical aura, about which the writer Andrew Solomon said: “... so much was said about this event that in subsequent years, critics, curators, collectors and artists gave the auction house much credit: it opened one direction, invented another, put an end to a third.”
The Moscow Sotheby's auction is also covered in the book "" (English edition -), published by the Garage Museum in 2016. Focusing on 15 group exhibitions and other major projects that brought Russian artists to the attention of an international public or introduced the Russian public to the stars of Western art, this publication offers readers a unique perspective on the birth of the global art world. The book can be purchased at the Museum’s bookstore; an English-language edition is also available on the websites
The autumn season has begun at the Sotheby's auction house. Photo by Pavel Terekhov
The Sotheby's auction house was sold out on Thursday evening - Pablo Picasso, Vincent Van Gogh and the Soviet founder of abstract art Kazimir Malevich were selling. Among the buyers there were probably billionaires from Russia and other post-Soviet countries. At auctions that sell works by old masters and 19th-century European paintings, they traditionally buy about a third of the lots. In the hall, alongside ladies in couture and gentlemen in bow ties, were mere mortals: they are regularly given the opportunity to admire art before it ends up in the collections of the rich and famous.
The Sotheby's auction house in New York has been selling paintings from different eras and movements, jewelry, furniture, collectible wine and even cars for more than 250 years. And the art market is not afraid of either crises or sanctions. Sotheby's earned three billion seven hundred million dollars in the first six months alone; by 2016 the company plans to collect seven billion.
Into the holy of holies of art
It is customary here to greet wealthy clients right from the door. The smiling doorman will definitely say “Welcome to Sotheby’s” and open the door. The girls are already waiting for guests on the first floor. “Please come up to the second floor,” greets the long-legged lady in black. At the registration desk, the visitor receives a special number-plate, which he then raises at the right time during the auction.
The auction takes place in a special hall on the seventh floor, but first there is champagne. The waiters offered “Prosecco”, someone asked about stronger drinks, but there were none. Small talk is a mandatory element of the event.
Some vigorously discuss art news, others gossip about stars. “Woody Allen came yesterday, did you see?” - says the gray-haired man to his friend.
Stars really do come to Sotheby's. Two years ago, pop diva Madonna sold Fernand Léger’s painting “Three Women at a Red Table” here for seven million dollars. And once I bought it for only three. They say that in exchange for Leger, the singer acquired something from the collection of old masters.
International director of Russian art at Sotheby's Jo Vickery specially came to New York from London for Malevich. She introduces the Forum to the auctioneer and host of the evening, Henry Wyndham. “We're starting soon. Hurry up,” he invites.
International director of Russian art at Sotheby's Jo Vickery came to New York for Malevich. Photo by Pavel Terekhov
Van Gogh, Picasso, Malevich
The hall could barely fit all the guests. There were about 250 of them, not counting those who bid online. The audience was varied: ladies in hats, elegant gentlemen in club jackets, and some in casual clothes. Most people are not rich art lovers, but their agents. There are experts who mark the sale price in the catalogue, and even onlookers - mere mortals are also allowed into Sotheby's to admire the art.
More than two hundred people came to the evening auction at Sotheby's in New York. Photo by Pavel Terekhov
Presenter Henry Wyndham resembled a conductor, only instead of a baton he had a hammer in his hands, with which he hit the pulpit. As soon as Henry's baritone voice was heard, deathly silence fell in the hall.
The initial price of each lot was displayed on an electronic board, and the art objects themselves appeared on a rotating carousel. Introduced them impeccable people in black aprons and white gloves. Passions are heating up, prices are serious: five, ten, twelve million dollars. Henry Wyndham asks for a glass of water and jokes: “Think well while I drink.” One of the first intrigues of the evening: the painting “Mystical Suprematism” by the Soviet artist Kazimir Malevich. The starting price for this black cross on a red oval is $35 million. Literally a moment later someone gives half a million more. The auctioneer is not impressed, pauses and says, “I’ll be waiting a long time.” In total, taking into account all taxes, the canvas was purchased for $37.8 million.
Sale of painting by Kazimir Malevich “Mystical Suprematism”. Photo by Pavel Terekhov
Vincent Van Gogh caused more excitement. The bidding lasted more than five minutes. The painting “Landscape Under a Stormy Sky” went for $54 million. The most expensive lot at auction is saved for the end of the auction. The presenter said “Picasso”, the hall became noisy. The painting “Cabaret Singer” was painted by 19-year-old Picasso in Paris. The canvas depicts a naked woman with dark hair. To the average person, the singer would not seem like a very attractive cabaret artist, but the buyers really liked her. A real struggle began for the lot, the auctioneer repeated more than once: “You have the last chance.” The new owner paid $67.5 million for “The Cabaret Singer.”
Russian trace
“The evening was a success,” Jo Vickery summed up for “Forum” in perfect Russian. According to the expert, who learned the language out of love for art, a large number of Russian buyers took part in these auctions. “It wasn’t even a big surprise for us. We know about the economic and political situation in Russia, but Russians are still big collectors and love to collect art,” Vickery added.
After the auction, the buyers quickly went home in high spirits. In total, for these trades they spent$726 million.
Many buyers do not come to the auction themselves, but trade for works of art through representatives. Photo by Pavel Terekhov
At Sotheby's it is not customary to tell who bought the works of art and where they will end up. Buyers often become not only millionaires, but also museums, however, Russian buyers are private individuals, Vickery notes.
That evening, the collection of the former head of the auction house was also sold -Alfred Taubman . His biography is worthy of a book. The billionaire made a fortune in real estate, but in 2001 he went to prison for conspiring with another auction house, Christie's, and defrauding clients. After ten months of imprisonment, he resigned, and in April of this year he died after a long illness. The collection, which includes Albrecht Durer, Raphael, Pablo Picasso, Amadeo Modigliani and Jasper Johns, began to be sold by the heirs. Buyers have already shown interest in it.
“ And I think that Russians will take first place on this list and will be interested in such works,” Mikhail Kamensky, general director of the Russian representative office of Sotheby’s, shares his forecasts.
Russian billionaire Alisher Usmanov was spotted at auctions in the past. In September 2007, on the eve of the auction, he bought from Sotheby’s the collection of Russian art of the famous musician Mstislav Rostropovich and his wife, opera singer Galina Vishnevskaya. The collection of paintings, porcelain and silver was going to be sold for $30 million, but Usmanov paid twice as much just to have the collection returned to Russia. The billionaire presented it to the Konstantinovsky Palace in St. Petersburg. How often Alisher Usmanov participates in auctions is unknown. “Forum” contacted the billionaire, but at the time of publication of the article we had not received a response.
Another Russian-speaking connoisseur of world masterpieces is Kazakh businessman Nurlan Smagulov. This year, Smagulov purchased from Sotheby’s the bas-relief “Women with a Parrot” by the French sculptor Fernand Léger. The price is not known exactly, but we are talking about several million dollars. Many Russian buyers participate in auctions through foreign companies so as not to expose their name to the whole world, explains Kamensky.
“ Russians are the clear favorites among buyers. These are mainly private collectors who live between Russia and the West. We don't see any crisis today. Maybe millionaires won’t bargain so hard,” comments a Sotheby’s representative in Russia.
General Director of the Russian representative office of Sotheby's Mikhail Kamensky is confident that, despite the crisis, Russian buyers will always participate in auctions. Photo from personal archive
Buyers and onlookers: who comes to the auction
Anyone can enter the auction at Sotheby's for free by presentingidentification . The company website hascalendar of events , auctions are held several times a month. As a spectator, you can freely attend the morning or lunch auctions; in the evening, the number of seats is limited, and preference is given to buyers. But there are times when places remain, so everyone has a chance to get in; you just need to call Sotheby’s and ask about the availability of free tickets.
Brooklyn resident Oksana Ganzhara has been visiting the Sotheby's auction house for the third year in a row. Photo from personal archive
Oksana Ganzhara from Brooklyn does this regularly. “Friends are already joking, saying that you have become a millionaire,” Oksana says with a smile. She loves art, especially impressionist and modernist paintings, as well as wine collections. “To see how people calmly throw away millions! It’s just cool to look at these auctions in reality,” Oksana shares her impressions. This year, the New York resident has already attended the auction and watched several pre-auction exhibitions. “You can come to Sotheby’s just like going to a museum, I’ve already invited my friends here. And take a photo with Picasso’s masterpiece, is this possible anywhere else?” – Oksana rejoices.
But Sotheby's, naturally, relies primarily on wealthy buyers, for whom there is a special department.
A few months before the start of trading, his employees call their regular clients and send out invitations. For some, they organize arrival, meeting at the airport, hotel accommodation and individual excursions.
A mandatory part of the program is pre-auction parties for a select few. Clients can view the lot they are interested in before bidding and make sure they make the right choice. “However, anyone can become a potential buyer at the auction. You need to register on the Sotheby’s website,” says Mikhail Kamensky.
Among the formalities is an extract frombank account . All information is available on Russian language . Requirements for the available amount vary.“ This, of course, depends on what the client intends to purchase,” notes Mikhail Kamensky.
The auction house maintains confidentiality; names are disclosed only at the request of the buyers themselves.
How the auction works
Sotheby's offers all kinds of assistance to art sellers:Before the auction, he spends several months creating a catalogue, selecting photographs and organizing exhibitions. If desired, the auction house staff can develop an advertising strategy and promote the collection, organize inspection, storage and transportation.
The auction house loves its clients so much that it buys the lot itself if no one buys the item at the agreed price. Joe Vickery notes that for the convenience of clients, even in the Sotheby's building itself, everything is thought out to the smallest detail. “We have very good lot storage here. You see high doors. They were installed for huge paintings,” she shows. The building has an alarm system, and any movement is recorded by microscopic cameras. Guests don't notice them.
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