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“Sotheby’s will not be holding a June auction of Russian art,” a spokesperson for the auction house said in a statement. – Our hearts and thoughts go out to all those affected by the Ukrainian crisis”. Hours later, auction house Christie’s issued a similar statement. Earlier the company has already postponed indefinitely the auction of books of the Russian avant-garde from the collection of the French bibliophile Paul Destribe. The auction was to be held on March 10 in Paris.
Russian auctions are traditionally held in London twice a year and are one of the largest sources of replenishment of collections of Russian art both in Russia and in other countries. They are generally considered the top favorites among major Russian collectors.
Both companies said they scrupulously comply with all sanctions-related rules that prohibit any transactions with sanctions-listed companies and individuals. Russian money and assets are now under scrutiny, and among those targeted by the bans are many major figures in the auction industry. It is enough to remember Roman Abramovich or Pyotr Aven – the owner of the largest collection of Russian art of the early twentieth century. At the same time, it is worth noting that active participants of Russian auctions are hundreds of other collectors, investors and art lovers from Russia and many countries around the world.
It later became known that the Bonhams auction house also canceled its June auctions of Russian art in London.
