| ART MOSCOW 2005: results EXPO-PARK Exhibition Projects is summing up the results of the Ninth International Art Fair ART MOSCOW that drew to a close on May 29.
The Fair was attended by 35,000 visitors.
According to the organizers’ data, total direct sales have amounted to $2,138,000, plus $677,000 worth of works have been reserved. Taking into account the information obtained from gallery operators, indirect sales based on contracts entered into at the Fair continue during 3 months and, therefore, considerably exceed the amount for reserved works. Thus, considering the Fair’s long experience, the organizers believe that the reserved works amount may be objectively added up to the direct sales amount. So, in the organizers’ opinion, the final total sales figure should be considered to be $2,815,000.
The sale of 15 galleries brought in over $70,000, while 12 galleries sold no items. Out of foreign galleries whose sales amounted to over $50,000, 2 galleries sold nothing.
In 2005, 53 galleries participated in the Fair. Each participant of the Fair averaged $53,113 in sales. Dividing the statistics by participant countries, one should take into consideration that the amount is made up of average sales figures for Russian (about $62,000) and foreign (about $34,000) participant galleries.
Comparing these amounts with the last year’s ones, the organizers note that the total sales amount has increased this year by 1.5 times (in 2004, the sales totaled $1,727,000). At the same time, one should bear in mind that the lion’s share of the last year’s total was the sale of two canvases by Ilya Kabakov, while this year saw no such “heavyweight” sales. Therefore, the organizers are positive that the total sales amount has doubled this year.
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