Russian Art Market Update
Christie’s record-breaking June auction fetched over £24 million, shattering pre-sale expectations to become our highest ever summer sale total. The sale was 94% sold by value and international bidding was frenetic with clients shouting out prices well above the current bid. Six paintings broke the £1 million barrier, with emerging and established collectors fighting for works fresh to the auction block.
Leading the Market for Russian Art
This impressive result follows Christie’s landmark sales of Repin’s A Parisian Café for £4.5 million, Kustodiev’s The Coachman for £4.4 million and Mashkov’s Still life with fruit for £4.8 million in 2011, 2012 and 2013 respectively. Christie’s reputation for selling high quality Russian Art from distinguished private collections continues to drive this buoyant and dynamic market.
Exceptional Results: Our Commitment to Consignors
Christie’s Russian Art sales have achieved the highest selling-rates across the houses for the last eight consecutive seasons; in June 2014 our selling rate for pictures was almost 20% higher than our nearest competitor.
Since 2004, Christie’s has achieved new world auction records for Russian artists in every single Russian Art sale. We have broken 11 world records, two in excess of £4 million, within the past 18 months and currently hold world-record auction prices for over 50 of the foremost Russian artists including: Goncharova, Kustodiev, Bakst, Viktor Vasnetsov, Vasily Vereshchagin, Borovikovsky, Somov, Levitan, Mashkov, Repin, Pokhitonov, Annenkov, Baranoff-Rossiné, Iacovleff, Maliavin and Petrov-Vodkin.
Unrivalled Expertise and Outstanding Provenance
Many of the phenomenal prices have been achieved for works with distinguished provenance supported by extensive research. At Christie’s we specialise in sourcing privately-owned pictures, often from the families of the artists themselves. We have recently offered works from the families of Maria Iakunchikova (100% sold June and November 2013 for 514% of the low estimate), Sergei Chekhonin (100% sold in November 2012 for 423% of the low estimate) and Léon Indenbaum (100% sold in sold June and November 2013 for 286 % of the low estimate).
Christie’s international Russian department has over 130 years of collective specialist experience 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. We travel across the globe to source the finest works for sale; please contact us to find out when we will be coming to your area.