Auction Results

Courtesy of Sotheby’s

November 2014’s Russian Art Week auction sales realised a total of £40.5m.

The fall of the ruble and effect of economic sanctions appear to have had a significant effect on results for this week’s Russian Auctions in London (November 24-26). Almost 1,300 lots were offered, yielding total sales of £40.5 million – down 37% on last Summer’s Auction Week, and the lowest total since Summer 2012. Just under half (47%) the lots found takers – the lowest percentage since Winter 2008.

It was not all gloom, however, with five works selling for over £1m, and Valentin Serov’s 1910 Portrait of Maria Zetlin fetching £9.2m at Christie’s to become the most expensive painting ever sold in a Russian art sale. Paintings accounted for all of the week’s Top Ten prices (see below). Christie’s leapfrogged Sotheby’s to acquire a 49.7% market-share while MacDougall’s consolidated their status as N°3 firm in the field with sales of £7.7m and a market-share of 19.2% – well clear of Bonhams on 4.3%.

Download our Russian Art Market Report covering all results from the period 2007-2014 Russian Art Market Report, by Simon Hewitt, Nov14

June 2014 £64m

Christie’s – £24m

Sotheby’s – £23.8m

MacDougall’s – £10.3m

Bonhams – £6.2m

*

November 2013 £55.7m

Sotheby’s – £24m

Christie’s – £16.8m

MacDougall’s – £9m

Bonhams – £5.9m

*

June 2013 £50.7m

Sotheby’s – £16.6m

Christie’s – £12.4m

Bonhams – £12.3m

MacDougall’s – £9.4m

*

November 2012 £44.4m

Sotheby’s – £19.3m

Christie’s – £16.7m

MacDougall’s  – £7m

Bonhams – £1.4m