Russian Works of Art

With London now accustomed to high levels of spending by private Russian buyers, the latest auctions in this sector once again produced some eye-catching prices for particular lots.

This Russian military medal demolished an estimate of £10,000-15,000 at a recent sale held at Bonhams Knightsbridge.

THE first sale at new premises for Ipswich auctioneers Lockdales, now at the former officers’ barracks in Martlesham Heath, included two pieces of silver and enamel ware of the type associated with the Solvychegodsk region.

THE latest round of Russian art sales in London put in a consistent performance as auctioneers’ totals again benefited from a series of £1m-plus prices. Demand, however, remained selective with selling rates noticeably patchy.

PAINTINGS may have provided the large bulk of the money raised in last week’s Russian sales, but the auctions also provided the usual glut of works of art, Fabergé and icons.

THE latest Russian art sales in the capital saw the continuing recovery of an important sector for London’s auctioneers. The market may lack the free spending seen before the downturn in October 2008 but the June sales were significantly up on the equivalent series last year.

This jewelled and gold mounted hardstone model of a turkey by Fabergé was among the highlights of Christie's Russian art sale in London on June 8.

As buyers took the chance the chance to swipe a glitzy stocking-filler in time for Christmas, the latest Russian sales in London showed that there is still plenty of money to be made in this sector, despite the downturn.

IT wasn't just the London auction rooms that benefitted from the Russian influx last week. On November 29, Wilkinson's of Doncaster offered this 19th century Russian silver and niello work box.

THIS Russian icon depicting St George slaying the dragon generated a lively competition when offered on the third day of Bellmans' sale in Wisborough Green, West Sussex.

ALTHOUGH this summer’s Russian art auctions in London failed to bring the gold rush of previous years, there was some relief in the salerooms that demand did not sink even further.

Next month a Russian businessman and collector will open the world’s first museum dedicated to the Russian Imperial jeweller Fabergé.

This monumental 19th century Russian gilt-bronze mounted porcelain vase, created by the Imperial Porcelain Factory in St Petersburg, is thought to have been included in the wedding dowry of a daughter of Tsar Nicholas I.

with buy-in rates exceeding 60 per cent at many sales, Russian Week in London proved this hitherto burgeoning market to be as vulnerable to the economic crisis as any other.

The falling stock markets that have dented the wealth of Russia’s rich have yet to impinge upon the appetite for the output of Karl Fabergé.

NEXT summer the first Russian Art Fair will be launched at the Jumeirah Carlton Tower, Knightsbridge, London. It will run from June 6 to 9 to coincide with the Russian sales at the major auction houses.

Reports of the vast sums of money lost by some Russian oligarchs in the recent financial crisis did not appear to hamper enthusiasm for a collection of Russian cloisonné sold at Freeman’s in Philadelphia on October 8.

AN influx of Russian buyers was in town last week to flex their wallets and work their way through a week-long series of Russian sales in four London rooms. On offer was a rich mix of paintings, Fabergé, arms and armour, porcelain, metalware and anything else the auction houses thought might tempt the Russian palate.

Yet another example of a British auction house benefiting from the craze for all things Russian was seen at Welsh auctioneers Rogers Jones of Colwyn Bay on May 27, when international interest clamoured for this Russian plate.

It’s not just the London salerooms that are benefiting from the renewed enthusiasm for Russian works of art. The highlight of the sale conducted by David Lay of Penzance on February 28-29 was this late 19th century silver gilt and cloisonné enamel presentation vodka set.