By John Helmer, Moscow
The semi-annual sale of Russian art works in London last week produced signs of stable demand without pessimism for the future. Compared to the estimated valuations in the auction house catalogues, unusually high prices were realized in the bidding for objets d’art, such as miniatures of 18th century Russian court notables; porcelain vases, plates and kovshs (ladles); and icons.
London art market experts expressed surprise there was more profit in objects than paintings, but unsure who the buyers were. “The bigger lots were bought on the telephone,” reported one dealer in the auction room. According to an auction house source, “supply is limited, as many sellers are waiting for higher prices. And that means auction houses have to take what they are given, rather than trying to build a balanced sale. It’s also why the total on sale was down. Still, better works did sell and sell quite well.”
William MacDougall commented for his house: “the Russian art market continues to overcome the difficulties of low oil prices and sanctions.” (more…)























