The seventh Russian Art Week has closed in London after another busy few days of Russian sales at all the major London auction houses. A series of Russian art exhibitions, lectures, theatre and music performances also took place across the capital in the UK. On November 27th Russian Art and Culture hosted our traditional opening for VIPs and collectors. This year the event took place at a private suite at The Corinthia Residences, with sponsorship provided by Knight Frank.
The weak ruble and economic sanctions contributed to Russian Art Week yielding a lower auction total of £17.2m – considerably reduced from the £40.7m generated by Russian Art Week in late 2014 and down 18% on the £21.2m taken in June 2015. However, all four auction houses staged larger sales in December with the total number of lots on offer up 20% from 888 to 1069.
The Russian Art Week sale results are as follows:
Ahead of the opening party a more private event took place with a panel discussion on Alternative Investments: Passion or Profit?. It coincided with the launch of Knight Frank’s latest wealth management report on investing in your passions.
I chaired a conversation which brought together Andrew Shirley, Wealth Report Editor of Knight Frank LLP, James Butterwick, a leading Russian and Impressionist art dealer in London, and Martina Batovic, a specialist in Post-War & Contemporary Art at Bonhams. The discussion concluded with a private tasting of LOUIS XIII Cognac, provided by the drinks sponsor Remy Martin.
The official opening of Russian Art Week in London welcomed nearly 200 people, including art dealers, private collectors, representatives from the Russian Embassy, auction houses, galleries, museums and the media. Guests had the chance to admire paintings by established and emerging contemporary artists, generously provided by The Gagliardi Gallery.
Katya Zenkovich, Head of Knight Frank‘s Russian Desk, said “we are delighted to be involved with Russian Art Week 2015. There is an intrinsic link between property and art, with many of our clients looking for homes around the world not only to showcase wonderful collections, but to also as an art form themselves.”
“Like many art collectors, Knight Frank prides itself in its knowledge of the market and having access to the finest properties around the globe. Our Russian desk is able to understand the wants and needs of its clients, ensuring that they are looked after to the highest standard through one point of contact, whatever their property requirements.”
The sponsor of this year’s goody bag, The Gate Magazine, surprised guests with a lottery and the chance to win a stay in a luxury hotel in Mauritius. The winner was Oliver King, Artistic Director of Belka Productions, who produced last year’s Chekhov Season in the West End. The next Russian Art Week will take place in late May and early June in 2016.
Please visit the website for more details about Russian Art Week.
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