We are a little late on this one but its worth posting even after the Moscow Fair and Biennial. The Telegraph’s paid Russian supplement asks whether now is a good time to buy Russian Contemporary art:
Aidan Salakhova, artist, gallery owner
People who are only now beginning to think about collecting contemporary Russian art are a bit behind the times. They should have begun collecting several months ago. It’s better to buy in summer before galleries have put together their stands for the European fairs. The time to find a good deal is almost over: after the Art-Moscow Exhibition in September, prices will begin to go up.
Sofia Trotsenko, director of the Vinzavod Center of Contemporary Art:
I would say that the time to collect contemporary Russian art began a couple of years ago. And the point is not the prices, but the force of creativity, the number of talented works that have been created recently and the number of new names that have appeared. Of course, in this year of the crisis prices have dropped somewhat. But I cannot say that because of the crisis the art situation has changed significantly in Russia. True, there is a popular opinion says that the crisis is for the best, because only the best work will remain. […]
Pierre-Christian, Avant-Garde Publishing, Petit-Fute guidebooks
[…] I have the sense that in Russia today several young artists have appeared who work in very interesting ways and are looking for new approaches in art. Still, I can’t say that you should rush out and buy their work. Art right now is depreciating in value. But so is everything else. Real estate has gone down too. The art market, however, is unlike other markets. Here two factors matter: 1) the picture you buy may be hung on the wall; it is more beautiful than shares of stock; 2) this sort of purchase leaves you with less liquidity; pictures sell more slowly than stocks.
Five or six Russian art auctions are held every year. That isn’t much. If you want to sell a painting, you will have to spend time looking for an auction that is interested in your work and wait till it gets into the catalogue. Selling a work of contemporary art takes at least six months.