The FT is asking whether sanctions on wealthy Russians will effect London’s Summer sales of Impresionist, Modern and Russian art:
“London in June will be the one to watch,” said Melanie Gerlis, an editor at The Art Newspaper, an industry publication.
Morton & Eden, specialist London auctioneers, will be selling Russian coins and medals, for which buyers are often Ukrainian.
Russian collectors have been crucial to rising prices, with Christie’s alone reporting that Russian-speaking buyers had spent more than £1bn on works since 2008.
One market observer said it was “too early to tell” whether appetite would be reduced, while another said buyers would be unlikely to pass on works that might not return to auction for several decades.
Ukraine tensions cast shadow over art world (Financial Times)