The «SOVKOM», which entered open market space in 2004 by positioning itself as the «Gallery of Soviet and Modern Painting», significantly expanded this segment.
The «SOVKOM», which entered open market space in 2004 by positioning itself as the «Gallery of Soviet and Modern Painting», significantly expanded this segment. The «SOVKOM» worked out its own strategy of the development. It created a schedule of auctions for the whole season of 2004-2005, worked out design of catalogues, held an active advertising campaign. The «SOVKOMw's auctions are visited by «young growth» of Russian business. Prices here are a little higher than at Shishkin's. At an auction of February 2005, U. Pimenov's the «Stewardess» painting, which is modest as per artistic values but big in terms of size (96 x 96), was sold for 65 000 with the initial estimate of 60 000.
Uriy Tuhtin, the head of the «SOVKOM» gallery, forecasts great market future for the Soviet art, «There is a huge potential of price increase for the painting of 1920-1990. Five years ago works by A. Deyneka, S. Herasimov, B. Csherbakov, U. Pimenov could be acquired for 5000 dollars, presently the price for their works reaches 100 000 dollars. Soon it willrise up to 200 000-250 000 dollars and we will compare to Europe. I am sure that prices for the Soviet art will be increasing withinthe next ten years».
Nadezgda NAZAREVSKAYA Illusrations are provided by the author.
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