At stake can be placed no more than 10% of its capital

Oleg, what are the characteristics of investment in art? Much depends on the mechanisms by which you possess: the competence in certain areas of art, the possibilities for Examining the authenticity of the object, the size of your capital and investment horizon - in the "long" or "short" the game is. Once you have decided on these parameters, once it becomes clear what to do. If insufficient competence - draw on the expertise. Naturally, it works for the interest. The second option - to buy items in the trading organizations. Best of all auctions. Here necessarily ensure a correct description of the subject. And respecting the auction houses, in order to maintain his reputation, always take with them sold things on the implementation of a price not lower than they were paid last time. The only condition - the subject should be at the following auction no sooner than one year, or even two. We are called - at a price tomorrow or the day after tomorrow. " Why? Otherwise, you will not get the normal surplus value. After you have paid for an expert, and auction houses do not work for free, and also charge a percentage. And, as with the seller and the buyer. Now, regarding the authentication of things. I am a supporter of this issue of technology, but many people prefer the look of art criticism. My advice is if you can, you should be involved in the technique. We have, for example, has its own laboratory. If the buyer for one reason or another wants to make an examination in another place, he makes a full guarantee, takes an object and checks for the return of things gets their money back. Participate further in the auction or not - this is the right buyer. In addition, he is not obliged to tell us the results of its verification. Any organization interested in trading in that the customers were as small as possible doubt. Any potential buyer can do that? This person must have an impeccable credit history. If this is a new client, we discussed with the owner, at what price it can afford to take a subject for examination. We share this information with the potential buyer and give the money back guarantee, if the thing he is not satisfied. This additional increase in insurance formula. Why is invited to such a scheme? The Russian market is underdeveloped in insurance services. Plus the degree of falsification in Russia, especially - those who grew up on Russian culture in the twentieth century, he settled a huge distrust of the virus ... With regard to funds that invested in art values, then there are a golden "rule of tithing," if you want to play, the betting can be placed no more than 10% of its capital. Testicles need to lay out in different baskets and then it will not terrible game in debt. " And the profits can be considered "in range": of the ten items purchased in the four lost, and the others pulled out. What is special about risk management in antiques? If you use a stable financial instruments, the profits will be small, but if you go into a zone of the unknown, for example, in contemporary art, which is largely underestimated or varnished miniature, you will realize that the market can be, and will grow, but until the sun rises, the dew eyes vyest "... Although my collection of lacquer miniatures I started collecting at a time when she was not interested in public - about 10 years ago. Participating in the process of pricing, I helped grow this market segment, and stretched it to such extent that the single best of me no longer afford. Even so Yes. This market has already reached very different capitals. It should be understood that I had some opportunities. And do not forget, if the dealer starts to deal with collecting, his business is dying . Its capital is no longer working. That is the caliber of oligarchs Oleg Deripaska and Roman Abramovich buying the best? "The paradox is that in relation to a professional with much less capital, they do not always win. the circumstances have changed and liquidity in the subjects that they have bought is virtually absent. And this collector who knowingly acquires, calibrated on the basis of profound experience, he can not be liquidity. Abramovich forced to play by the rules, which are not written to them. And these rules are often created by a particular person . In order that he turned his attention to one or other expensive items, and paid him the maximum price. And there is overheating of the market ... There are "bubbles" ... We have not taken so to speak. Is it possible to preserve and increase the money acquiring rare and collectible items? I'm not a guru - to give advice to all. I can tell you what they do myself. We have 12 branches in Europe and on a daily basis in my office accumulates a large amount of information. So I could understand where everything goes, and I promptly went out in the cache. It should be borne in mind that in our business is very strong element of psychology - the prices have already gone down and the owners of objects trying to keep them. Try to be patient in hopes of a quick rebound in prices. Although from him to take - is unclear. next six- two-year price increase will not be. antiquarian position in the current situation is simple. It is necessary to wait for the bottom price and a little bit before the others start to fly to the cache, which previously had to withdraw. When will the price increase, the purchase should be discontinued and live on the current processes .. . What? auction house - is a machine that every day creates the current processes. And then what? need to raise the limit - thirty percent - to start selling. Maximally on the back of all the reset and go to the West to buy. Our market is very grown up, and the national Art is always more expensive in the country where it was created. Always. That was the pattern.'s the best time to shop? "In our segment of the minimum price I expect the closest in the summer. Which in this case you define the investment horizon? minimum of two to three years. But we need to dance from the capital. Because what really needed to invest in superveschi, although they are very expensive. But it is an investment in the day after tomorrow - in 8-10 years they will bring 35-40% per annum. I was acting appropriately. play "in short" also quite acceptable. But it should be clear about - the risks are much higher. On what amount of investment is it? Then I will tell you what to do. Let's look at two options for investment: 100 thousand euros and 1 million euros ... If we is about 100 thousand euros, then I would advise you to divide them into 10 parts. It does not necessarily buy all the things around 10 thousand - something you can buy up to 2 thousand and something over 18 thousand items in this category bring at least 25-30% during the year. Some things will be given 60-70% of the profits, others only 10%, but will those who will fall in price. But "in terms of" 25-30% is almost guaranteed. Only when you buy should be be very careful and very carefully read the descriptions of things. For example, if it says "stamp of Faberge, this does not mean that the item is made personally by Faberge. It can go about his studio, his school, etc. Therefore, work should be an expert. you give him 5% of your income, and you will be guaranteed 20-25%. And if we are talking about a million euros? "If there is an opportunity to invest millions in 7-8 years, you should buy a 2.1 object. assumes the following with a long study of , study, two or three laboratory experiences, opinions of several experts from Moscow and St. Petersburg. Then, during the investment cost of goods may increase by 3-5 times. I know of cases when used to and 7-8, that is, the cost rose by million a year. This game is of high interest for extra-professional. And thus it is necessary to understand that even if you figure out something less attached you get exactly. That is the worst case, save your money. What are the peculiarities of the Russian art market, antiques ? In our country there is no such thing as the origin of the subject. too mixed up, especially after 1917 - all these revolutions, collectivization, etc. Against this background, Russia has no legal liability expert, which is fertile ground for biased opinions. In the West, each expert is included in some associations, and they insure it. If he made a mistake, the association covers the damage. The next mistake experts offer to suspend its activities. If it was justified - he will be left. But if he admits mistake a third time, his reputation comes to an end. And penal himself bears full responsibility. Sometimes debts for a failed examination shall be paid after the death of relatives specialist for allowing the marriage to work. Is it under such conditions people will take something extra, in which he is not completely sure about that? A We in Russia are faced with the fact that a respected man, writer, professor, pharmacist, etc. sign an opinion that the painting by Aivazovsky. We attribute it to our lab and see that the signature is fake. Call and explain the person comes to us and says he's usually on the signature is not looking. And now, on closer examination, not sure if this Aivazovsky. order and breaking up. And you know what the price issue? The picture is of good quality is usually $ 3-4 thousand, and if it Aivazovsky - $ 250 thousand and no responsibility? He said that was wrong. And we have the law can not prove anything. Such temptations anyone corrupt ... And to what extent the works of Russian masters of influence on the world market? total sales of Russian subjects Art for the global market does not mean anything. It's like a titmouse in the back of an elephant. No one in particular does not notice. But the number of Russian goods imported into the territory of Russia in relation to our domestic market is extremely large. We still just do not have art for the two world wars repeatedly burned the entire western part of Russia, the cultural heritage has been lost there. Thank God that did not take Peter and Moscow. If and burned, the subjects of the Russian culture is practically would not exist. And so the situation is even far and far from ideal, but far is not hopeless.