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Christie’s auction house said the situation in Ukraine had seriously disrupted the art trade

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The events in Ukraine have had an extremely negative impact on international trade in art objects in light of the imposition of sanctions on Russian businessmen, a representative of the British auction house Christie’s was quoted as saying by Bild. According to him, the Ukrainian crisis “seriously disrupted many things in the international trade in art.”

“For the Faberge market, this is a drama. And investors are very nervous,” Christie’s told.

The result of sanctions against representatives of big Russian businessmen was that both the US-based Sotheby’s auction house and the UK-based Christie’s auction house canceled Russian art days scheduled for the summer.

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In 2021, only Sotheby’s revenue from such (Russian art) auctions amounted to about 20 million euros, the newspaper said. She noted that the favorite items purchased by the wealthy Russians were, in particular, Carl Faberge’s jewelry in the form of Easter eggs.

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