The future of auctions in Russia. Part one: the French experience

An international round table “The future of auctions in Russia. Part one: the French experience” was held at the “Gostiny Dvor” on September 26, 2011. The event was organized by the Russian Auction House (RAD) together with the French National Syndicate of Auction Houses (SYMEV). The Law Firm "YUST" was the juridical partner of the event, which was the first one of such level in the last years, and the first one in a series of round tables and conferences dedicated to the solution of problems of the art business of Russia.

Andrey Stepanenko, General Director of RAD, said that the organizers of the event made an important step on the road to improving Russian legislation in the sphere of circulation of objects of art. It is so because an initiative group, created as a result of the round tables’ work and accompanied by lawyers of the Firm, will be promoting a number of legal initiatives.

What is more, the French art market, being the oldest and the fourth largest one in the world (the first three being China, the USA and the United Kingdom) was not chosen for the first round table by accident.

In her turn, head of art business legal support practice of the Firm, Advocate Ekaterina Pronicheva, gave special attention to the legal specific of the auction activity in Russia. Her speech provoked the audience’s genuine interest. In particular, possible solutions of the problems connected with the import and export of cultural valuables were discussed. For example, the French state, unlike its Russian counterpart, must pay the full market value of the work of art, which it prohibits to export.

The participants of the round table also discussed:

• Which tax policy novelties would assist the development of the art market in Russia;
• What should be kept in mind, when agreeing on the remuneration for the suppliers and sellers of antique wares and objects of art;
• How to eliminate gaps in the laws, which define the role and legal status of expert valuers;
• What the advantages and drawbacks of the French procedure of holding auctions are and what Russia would do well to adopt.

Information on the holding of the next round table dedicated to the future of auctions in Russia and the program of the event will be published on the organizers’ websites and on our website in advance.