Leading auction houses Sotheby’s, Christie’s and Bonhams call off Russian art auctions

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Auctions of Russian art usually took place in London twice a year, in winter and summer, and attracted the attention of many connoisseurs of Russian art and collectors from Russia. This year’s first auctions were supposed to take place in June, but Sotheby’s, Christie’s and Bonhams have decided to call off traditional Russian art auctions in response to war in Ukraine

In November 2021, Sotheby’s in London hosted the most successful auction of Russian art in the history of the auction house. Then sales totaled £17.7 million (including fees). And it was Sotheby’s representatives who were the first to announce the abolition of traditional auctions:

“Sotheby’s will not be holding Russian art sales in June. Our hearts and thoughts go out to all those affected by the Ukraine crisis and we are actively supporting those impacted by the tragic events unfolding in the region through corporate and employee fundraising.”

A few hours later, Christie’s made a similar statement. Both auction houses said they are closely following regulations relating to sanctions, which bar dealings with individuals and companies that are listed. Also, due to the suspension of the activities of some companies in Russia, it has become difficult and even impossible to carry out financial transactions between Russia and other countries. The cancellation of the auctions was later reported from Bonhams.

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British MacDougall’s Fine Art Auctions, which specialises just in Russian and Eastern European art, has not yet commented on its plans for the upcoming London auction, as well as Phillips, which is now under special scrutiny due to the ownership of the Russian company. However, last month it donated £5.8 million from its evening sale of 20th-century and contemporary art to the Ukrainian Red Cross.

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