How does the art market in Ukraine work?

Olga Fedorovskaya, founder of the Ukrainian contemporary art gallery ArtMe Gallery, asks for our 5 questions

How does the art market work? How does business work here?

There are artists, sculptors who create works of art, and potential clients – collectors, investors, as well as ordinary people who want to buy a painting as a gift, or for their home, for their own aesthetic pleasure. And between them – gallery owners and art dealers. If you are buying for yourself without the intention of reselling or investing, you can do it yourself by visiting an exhibition, or purchase a work from an artist friend.

Чи реально заробити на сучасному мистецтві?

Зразки сучасного мистецтва продаються на аукціонах за шалені гроші. Навіть якщо порізані вбудованим шредером одразу ж після продажу, як от картина Бенксі кілька років тому. Навіть якщо багато хто не розуміє до пуття, що саме зобразив митець. Але це закордоном. А як в Україні? Наскільки вдалим капіталовкладенням будуть предмети сучасного мистецтва з’ясовувала Yana Paniushkina.

Опубликовано The Page Воскресенье, 8 марта 2020 г.

If your goal is to invest or make the collection, you need to visit galleries, consult with professionals, take your time, trust yourself and your own taste. It is interesting that all the famous world collections were collected by people for themselves and were not intended to be resold. For example, those that today are known to us as the collection of the Tretyakov Gallery and the Museum of Bogdan and Varvara Khanenko. These people bought those works of art that they personally liked. And they were not mistaken.

Atlanta Homes Lifestyles, February 2019
Serhiy Hai, Untitled 2011
Serhiy Hai, Untitled 2014

In Ukraine, there are artists with a name and a serious creative heritage – SergiyHai, Anatoly Kryvolap and his daughter Ganna Kryvolap, Olena Pryduvalova, sculptor Yuriy Musatov. Buying their works, you will receive both aestheticpleasure and wisely invest your funds.

Ganna Kryvolap, Horizons, 2016
Ganna Kryvolap, Kyiv horizons, 2017

Although I am into contemporary art, my personal advice is to be sure to visit the state museums where classical art is exhibited. If you want to make money on art, invest wisely, for this you need to understand it, and start from the beginning – that is, from the classics. Take the time to do this. Our state museums are changing, they are implementing interesting modern projects.

This is especially true of the National Art Museum of Ukraine, which is now conducting, I would say, not a reconstruction, but a revival under the leadership of its director Yulia Litvinets. Meet museum workers, guides – communication with such people will bring you great benefit.

How to make money on art?

If you are an artist, you have two options – promote yourself yourself or start collaborating with a specific gallery or art dealer.

Have you decided to act on your own? Use social media, it’s easiest. You create your page on Instagram, Pinterest, or Facebook, and post your art there. The main thing is to put down the necessary hashtags. By the way, it was on Instagram that I once found a wonderful Kharkov artist Valentina Samoilik-Artyushchenko, and now one of my regular clients is happy to buy her paintings.

Maria Lys, Rebirth, 2019
Vera Tsepkova, Thinking of Hawaii, 2019

All art dealers and gallery owners are looking for young talent on social media. Register with behance, an international resource for artists and designers from all over the world to share their work. Contact the galleries, do not hesitate – come, show your work, send photos, write letters. As they say, water does not flow under a lying stone. Artists are people with a subtle soul, works of art are a part of the inner world, and it is difficult to show it, I understand that. But take the first step and it will get easier.

If your goal is to make money from your art works, look at our modern life a little detached. She has changed. Our vehicles, the places where we work, and our homes have changed. Updated locations require modern art with a new design. So create it! An abstract work of art is easy to fit into a modern interior. There are young artists whose paintings are sold out very quickly – these are Vera Tsepkova, Maria Lys, Igor Nekrakha. Their work is light, they do not overload the space. That is why many abstractions can be seen in hotels, fashionable apartments and business centers.

But if you feel that abstract art or interior painting is “not yours”, look for your style. And he will find connoisseurs. People always internally, emotionally feel when the work is done, so to speak, “for sale, for earning money,” or created from the heart.

Igor Nekrakha , Green and blue , 2020
Igor Nekrakha, Mountain, 2020
Igor Nekrakha, River lyrics, 2020
Igor Nekrakha, July evening, 2020

What art is most in demand now?

Among the global world trends are classical and contemporary art. Classical art does not lose its value if it is the work of famous authors, say, Tatiana Yablonskaya, it is an investment. Both in our country and abroad there are collectors who form collections, for example, of works by artists of the Soviet era.

According to a report presented at the 12th Deloitte Art and Finance Conference in Monaco in October 2019, “Art is a new category of assets. Deloitte estimates that in 2018 the total value of high net worth individuals’ art and collectibles was $ 1,742 trillion. According to forecasts, this figure will only grow in the future.

The 2019 results show that asset managers, art experts and collectors consider the art market to be an important area for asset management”.

Contemporary art – it’s global market is developing actively and rapidly, the most relevant areas are: monumental sculpture, video art, installations, digital art, collages and pop art.

Paintings Serge Payet

Among Ukrainian artists, pay attention to the work of Serge Payet – he has a new interesting series of collages. If you like bright pop art and comics, she writes about the works of Daria Gil under the pseudonym ODARKA, she is a very young girl, very hardworking – her exhibitions are regularly held in different locations of our capital.

ODARKA, Vogue Vintage, 2020
Sculptor Yuriy Musatov

Among the works of decorative and applied art, ceramics is becoming especially popular. Today, there is a real world boom in ceramics, and here ample opportunities are opening up for Ukraine, because pottery is our original traditional craft. Which now, thanks to our talented youth, has received a second breath.

Yuriy Musatov, Cheese, 2017

Visit the festivals of Tse.Glyna, Kyivness and Vsi.Svoi, and pay attention to the brands GORN, Saga Pottery, Jane and Mеry (this is a small pottery workshop in Mukachevo, very gifted girls work there). So far, prices for our Ukrainian ceramics are low compared to world prices, so “seize the moment”.

What is more profitable – auctions, sales through online stores, art agent services?

From the collection owner’s side – each direction has its own advantages. In Ukraine, auctions of auction houses and open Internet auctions are held, this should be monitored. Sometimes they can buy really valuable works, for example, paintings by Akhra Ajinjal, at a fairly reasonable price. But here you need to be very nimble.

You need the services of an art agent if you set out to collect a specific collection of works of art. Such a person should be, firstly, a professional, have experience, and secondly, be someone you can trust so as not to become a victim of fraud.

I personally have an online gallery, that is, an online store. I do not attract external investments and only invest my own funds in my project. Renting a good premises in the capital, as for me, is expensive and not really necessary. Whether we like it or not, we already live with you in the digital world. Online art sales are developing rapidly in the USA, in Western Europe and already in Russia. Despite the convenience and time savings, this has not yet become an elementary habit for us. In the post-Soviet space, when buying goods via the Internet, we all sometimes experience certain fears. I myself, as a client, understand this.

Artist Viktoria Sukhanova at work

Artist Ganna Kryvolap in the studio

When it comes to selling art online, I personally know every artist whose work I sell. I visit exhibitions, workshops, meet members of the family of artists – it’s interesting, useful and very pleasant. In professional language, this is called provenance. Sometimes my regular clients also visit artists’ workshops – I organize these meetings for them. Therefore, they know that buying a painting through my website is safe and secure.

Online art sales in the world are growing every year, because it is very convenient. You can go to the site, look at each sculpture, each painting as many times as you need. See the texture, shades, check the dimensions – is it suitable for your location. And then place an order – and it will be delivered to your address, at a convenient time for you, in packaging and with a certificate that will indicate what exactly you purchased.

Is it possible to make money at exhibitions or is it, on the contrary, money spent on PR?

Both personal exhibitions and art festivals, both domestic and foreign, arenecessary – because this is the development of the culture of our country. Theorganization of the exhibition is at a high level, in a modern large room, with goodlighting, the event is not cheap.

Gropius, NOOM chairs, design-Katerina Sokolova
L’Officiel Ukraine February 2020

In addition to my work in contemporary art, I am the editor of the Lifestyle department at L’Officiel Ukraine magazine. My management and colleagues support me, and we talk about the development of Ukrainian art. For example, in the February issue we made a great article about the participation of our designers in the international exhibition Maison & Objet 2020, which takes place annually in Paris. To make their stand, our designers invest their own funds, and also receive financial support from the European Bank for Reconstruction and Development (EBRD). We are proud to state that the Ukrainian stand attracts more and more attention every year.

Dressing table Sofi, innazimina design Inna
Nadezhda Sheikina’s article about the participation of Ukrainian designers in Maison & Objet 2020

In spring, Kyiv Art Week takes place in Ukraine, and this festival attracts more and more visitors every year. If you are an artist and constantly collaborate with a certain gallery, this is a good chance for you to show your works to the target audience. Last year we presented the works of Lana Kaufman, she is a young and very interesting Ukrainian artist, she travels a lot around the world, and creates a series of works dedicated to Places of Power.

For organizers and gallery owners, the exhibition is more PR than earnings. But they need to be held, because they provide an opportunity to show works of art both to ordinary people who are simply interested in art and to potential investors.

I believe that every artistic initiative is a small step for an artist and a big step for the state.

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