Russian artists

Every fortnight Artprice provides you with a new or updated ranking in its Alternate-Friday Top Series. This week we present the 10 best auction results generated by Russian artists in 2010 – June 2011..

Prestige sales in New York produce mixed results

Although generally considered safer (and less volatile) investments, the Modern Masters failed to generate the estimated results at Christie’s and Sotheby’s May sales in New York, generating a combined total of just $285.65m from their Impressionist & Modern Art sessions.

Prestige sales in New York

On 3 and 4 May 2011, Christie’s and Sotheby’s will kick off the annual series of multi million-dollar auctions with their Impressionist & Modern Art sales, followed by their Post-War & Contemporary Art sales on 10 and 11 May.

Impressionist and Modern sales in London – unabashed confidence!

Since the peak in January 2008, the price index of Impressionist art has contracted sharply: down 39.3%. But for Christie’s and Sotheby’s – judging by the high estimates in the catalogues for their upcoming London sales – the price deflation is now over.

No surprise in London

The results of the Impressionist & Modern sales in London last week were without surprise (except for the withdrawal of Camille PISSARRO ’s, Le Quai Malaquais) and made the era of 8-figure auction results an even more distant memory. Both auction houses generated eight sales above the $1m line. The bought-in rate was not identical however: 15% at Sotheby’s (out of 27 lots presented) and 32% at Christie’s (out of 45 lots offered).

German Expressionism - aggression with a brush

The price index for German expressionist masters has been particularly dynamic over the past 2 years. Underpinning this price progression: a rarefaction of the offer; some exceptional works coming to market and plenty of recent exhibitions. For example, Emil Nolde is currently being honoured with a retrospective at the Grand Palais in Paris – until 19 January 2009.

The main drivers of the German art market

Germany has a unique place in the art market. High volumes in segments where prices are below EUR 10,000 have meant a higher degree of democratisation than anywhere else. The premium market, meanwhile, is limited to expressionist paintings.

German expressionism back under the spotlight.

Works by the Die Brücke and Der Blau Reiter groups have been spiralling in price since 1999 (up 25% over the year). After four years of steady increase, from a base of 100 in 1997 the price index for Expressionist works is now 28 points higher than the Artprice Global Index.. In these hard-to-better market conditions, Christie’s is now organising its tenth auction of German and Austrian Art.

Recent trends ahead of the big November auctions of 2002

Sommaire :

In less than 6 months, Sotheby's and Christie's have captured 23% of the French market.

While rumors suggest Drouot, the traditional home for France's auctioneers, may be sold, Sotheby's and Christie's have burst onto the French market. France recently reformed its auctions market throwing it open to competition. French art has long held a great allure for foreign auction houses, and Sotheby's and Christie's have been quick to make the most of the new regime.