×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

British Firm Moves into Art Market

Top British art consulting firm Art Market Research, or AMR, said Monday that it plans to offer its services in Russia, where growing investment interest in art and antiques presents a huge growth opportunity.

London-based AMR, which counts auction houses Christie's and Sotheby's as clients for its art indexes and market analysis, said it hopes to raise 500,000 euros ($706,700) by the end of the year and team up with Russian representative company Kollection.

"Russia is a country of vast opportunities. I am convinced of the great potential of its art market as well as in the swift development of the Russian banking system," AMR director Robin Duthy said in a statement. "I am certain there is a tremendous need for complex investment analysis in Russia's arts and antiques market."

AMR would target Russian financial institutions, investment consultancies, stock market players, private investors and individual collectors, Duthy said.

Russian banks have recently started to offer art consulting services in response to a growing appetite among the country's super-rich for collecting high-priced treasures.

While London alone hosts more than 2,000 antique houses, Russia currently has 400, said art investment expert Natalia Legotina, head of Kollection and the new AMR representative in Russia.

The strong financial market in Russia and the growing sophistication of the country's super-rich also attracted Europe's largest antiques association, London-based LAPADA, to enter the Russian market earlier this year.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more