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Sales at the Russian auctions of Sotheby's, Christie's and MacDougall's in 2018 amounted to only $ 41.1 million (0.9% of global sales), having decreased by 19.9% ​​compared to 2017 and showed the worst annual dynamics among all regions (a decrease in sales of artworks of American art - 7.2%, growth in sales of artworks of Chinese art - 25.3%). The last five years, sales in Russian auctions have been falling. The average annual decline was 8.3%, the worst global indicator after China (CAGR -11.8%) in the last ten years. According to the May ArtTactic Art Market Confidence Survey, 36% of those surveyed ...

What is happening in the Russian art market

Over the past 20 years, the contemporary art market has undergone profound structural changes: more and more artists (from 5400 to almost 32 thousand presented on the auction market today), more and more artworks (from 12 thousand to 123 thousand lots). The market grew and expanded geographically (from 39 to 64 countries participating in the auctions). Its growth has accelerated with the proliferation of remote transactions and is now the most dynamic and profitable segment of the entire art market. Over the past 20 years, the number of auction houses bidding on the contemporary art market has doubled ...

The contemporary art market is at its peak

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