The Discreet Charms of the Russian Bourgeoisie

A good reminder of the effect Russian commodities wealth is having on the luxury market comes from the Daily Mail:

Seven of the world’s 25 richest people. Some 87 billionaires. The highest concentration of billionaires in its capital city. ( . . . ) Its new uber-rich aristocracy has been carving out its own dynasties, buying up multi-million pound properties (a mystery Russian buyer reportedly stumped up £397 million for a Cote d’Azur castle this month) football clubs and priceless art masterpieces. Read the rest of this entry »

Interview with Guy Bennett

In our continuing effort to de-mystify the art market and make the auction houses more accessible, we bring you this interview with Christie’s Guy Bennett (along with some video excerpts.)

First, a little background. Guy Bennett is Senior Vice President, International Co-Head of Impressionist and Modern Art. In addition to overseeing the day to day running of the department worldwide, he is responsible for the daily management, marketing and promotion of Christie’s sales of Impressionist and Modern Art in New York. And, of course, it’s his job to find the right properties to sell at the right time. He headed the Impressionist and Modern Art Evening Sale in November 2006 which totaled $491.5 million, making it the most valuable auction ever. The next year, he organized the second most valuable sale totaling $396 million in November 2007.

In 2008, Bennett landed the Miller Collection, which included Monet’s spectacular “Le bassin aux nymphéas” which sold for $80.4 million in London in June, doubling the artist’s previous record set a month earlier when Bennett had orchestrated the sale of Monet’s “Le Pont du chemin de fer à Argenteuil” in New York which sold for $41.5 million. (The interview, with video, after the jump.) Read the rest of this entry »