Director: Half of Gagosian’s Sales Are to Russians
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
Buyers from Russia and other republics of the former Soviet Union account for almost 50% of total global sales at Gagosian Gallery, the art world’s global leader in exhibition space, one of its directors said.
Four years ago, it had almost no Russian buyers. Their numbers rose rapidly over the past 18 months, Victoria Gelfand, director of Gagosian’s London gallery, said during an interview in Moscow. On September 17, Gagosian opened a show of 70 artworks in a former chocolate factory near the Kremlin.
Russia is the world’s second-biggest oil exporter. According to Forbes, the number of Russian billionaires jumped to 110 in 2008 from 36 in 2004. This new wealthy class is eager to spend on luxury items and fine art.
Titled “For What You Are About to Receive,” the current Moscow show is Gagosian’s second in the Russian capital and runs until October 25. The gallery said that in the first few days it sold “about 13” artworks, each ranging in value from $25,000 to $2 million.
Artists in the show include Alberto Giacometti, Willem de Kooning, Roy Lichtenstein, and Pablo Picasso. There are also new works, never displayed before, by Anish Kapoor, Jeff Koons, Ed Ruscha, Richard Serra, and Cy Twombly. Ms. Gelfand said about 50 of the 70 works are for sale.
