Tyukhtin Yury Collector and Head of Moscow auction house “Sovcom”, specialized in artists of Soviet time.
It’s not like our collectors have run out of money. I believe that some kind of drive is temporary missing in the sector of modern art. After all, a big balloon was inflated and it have burst now. So nothing extraordinary will happen to the market of modern art in our country, some gallery will be closed and others will be opened. It is inexpedient to invest in new global modern projects now. What will happen to collectors? I think that 90% of them will keep their collections and in ten years they will understand that they made right choice. To sell something now means to record three or four-fold loss. It is convenient time to enrich your collections at the secondary sale markets, for example, at auction sales. These galleries aren’t the only ones to close, I think, two or three more of big galleries will be closed for sure. It will have a bad influence on the situation in whole. Who will promote our artists at international markets? There is no answer for this question. I presume that the state must somehow help them now; there are some means for that in Ministry of Culture. They set Russia up, after all. We see significant materials’ inflow at our auctions, so we organize Russian sections at modern art sales twice a year. If estimates are right (low), everything is being sold just fine. That is why I think situation isn’t so tragic and that market will grow. Some galleries will lose monopoly for their authors; artists will sell something themselves or start to work with western galleries.
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