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IMPROVING THE MANAGEMENT OF AUCTION (WHO BID) SALES OF ANTIQUES
AND WORKS OF ART
Khalmirzayev Ozodbek Abdurasulovich
ADU researcher
Abstract:
This article discusses the auction sales of antiques and works of art organized in many
countries of the world, the history of the development of sales, the main goals of organizing sales,
the importance of auction sales in international trade and economic relations, the organization
and development of auction sales of antiques and works of art, ensuring the creators of works of
art their place in the world market, and thereby creating additional jobs, and their material and
financial development. In addition, the importance of works of art in the development of the
culture of society is emphasized. It is also highlighted that the development of auction sales of
antiques and works of art in Uzbekistan is a requirement of the time.
Keywords:
Auction, antiques, works of art, Christie's, Sotheby's, Heritage Auctions, Phillips,
Bonhams.
There are currently many antique and art auction organizers in developed and developing
countries, and we will focus on the most prominent of them, giving examples of the most
developed antique and art auction organizers in the world.
Christie's is a British auction house founded in
1766 by James Christie, with its main
premises in King Street, St. James's, London. It has additional showrooms in New York, Paris,
Hong Kong, Milan, Amsterdam, Geneva, Shanghai and Dubai. 2023 to the state According to
Christie 's dependent was in 46 countries around the world office and trade They have rooms.
They are open every year. figurative and practical art, jewelry items, photography, collection
goods, wine and others own inside received more than 350 awards in 80 categories auctions
Christie's currently holds the French billionaire Francois To Pino relevant private is a company.
Christie's to sell $ 8.4 billion in 2022 alone art and luxurious items sold, this is any auction house
for The record is. On November 15, 2017, Leonardo da Vinci's painting "Salvator Mundi"
auctioned at Christie's in New York in trade Saudi Arabia prince Badr bin Abdullah Al Saud for
$ 450 million sold, this picture for paid the most high for the price became
Christie's auction house world art market leader is, its general income in 2017 $ 6.6 billion in
cash organization Sotheby 's auction house with together his/her share antique items and art
items auction trade according to world 90 percent of the market cover received
.
Christie's auction trade organizer service for, at the discretion of remaining commission
payments quantity, each at auction for sale from the lot as follows in quantity is marked:
From 2008 to 2013;
-
to $ 50,000 was amounts 25 percent for,
-
From $ 50,001 to $ 1 million was amounts 20 percent for,
-
1 million +1 dollar high was amounts 12 percent for.
From 2013 to present;
-
to $ 75,000 was amounts 25 percent for,
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From $ 75,001 to $ 1.5 million was amounts 20 percent for,
-
1.5 million +1 dollar high was amounts 12 percent for.
Sotheby's
-March 11, 1744 in London book Seller: Samuel Baker by basis (from Sotheby's)
before in the world only three Sweden auction house organization done was). The company's
Name Samuel Baker from the surname of his nephew John Sotheby (1740-1807) come released
in 1955 New York, Paris, Los Angeles, Zurich, Toronto, Melbourne, Munich, Edinburgh,
Johannesburg, Houston and Branches also in Florence opened. Sotheby's shares in 1977 to the
public it turned out, this company capitalization noticeable to grow help gave. By the early 1980
s from, Sotheby's industry crisis beginning because of almost bankrupt was. June 2019 In, in its
275 th year of operation, Sotheby's auction house privatized, it French media mogul Patrick
Drahi buys received. Deal worth 3.7 billion dollars organization it was made by America.
Special created BidFair US company manages.
In May 2007, Sotheby's Russia enterprise opened first international who increased trade house
became (OOO Sotheby's Russia and CIS), first general director Mikhail Kamensky from 2007 to
2016 worked. Since he left then Irina Stepanova new director Sotheby's Russia is very many
numerical artistic and cultural treasures, in particular, Rostropovich-Vishnevskaya collection and
Andrei Tarkovsky archive To Russia to return help gave
.
Heritage Auctions -
Collector in 1976 By Steve Ivey organization done in Dallas, Texas
located in many parts of America national auction house of Heritage numismatics collections,
comics, illustrations art, books, luxury accessories, immovable property and cinema, music,
history and to sports related monuments seller auctioned trade in 1982, Heritage auctions sold
two collector Steve Ivey and Jim Halperin between equal entitled to cooperation in 1967, Ivey
graduated from the University of Texas. Steve Ivy Rare Coin Co organization Harvard in 1971
university first on the chair read and Halperin, who walked new England is unique. Coins to the
gallery basis Later he studied
throw away gone. These two male often industry at
exhibitions and who increased in trade roads intersected. In 1982 Halperin in Boston business
sold, to Dallas move passed and to Ivy He is currently a member of Heritage. In Europe of
operations one part managing partner Mark Emory together take came. In 1986 Greg Rohan
joined. Ivey, Halperin, Rohan and from Emory outside, firm again four partner own inside took
they are Paul Minshall, Ryan Carroll, Todd Imhof and Christian Birrenbachs in 1996, Heritage
auctions launched online coin auctions. Facilitating website to work this
online platform
company for potential sellers and buyers the circle noticeable at the level expanded. Halperin's
from the leadership then Heritage own business from numismatics outside add collections too for
expansion measures saw. This diversification in 2001 comics who increased from trade started.
Later, in 2003 company souvenir department opened it, he said to himself next from the auction
for about 2 million dollars in the mid-2000 s, Heritage auctions began selling music,
entertainment, and movie monuments to the market entered. 2006 April come, who? Increased
trade house already famous actors, musicians, directors and movie industry other to the figures
relevant was collections own inside he took it. Who increased trade this
at auctions in
history the most famous movies and from TV series various props, sets and clothes package
demonstration was made. From this besides, different to musicians relevant personal these items
too auctions one part in 2010, Heritage announced its luxurious goods department to work He
dropped it, it was a jewel. Items, bags and other accessories own inside takes. Some in some
cases, this auctions rare items two face thousand from dollars to the bridge sold. For 2013 come,
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who? Increased trade house modern art, including Pablo Picasso, Andy Like Warhol, Joan
Mitchell, and Edward Ruscha artists who also owns the works? Increased to trade put. Heritage
auctions to raise $ 1.45 billion in 2022 in love wonderful for sale achieved. From this Heritage
auctions, Nobel peace prize award prize winner Dmitry Muratov $ 103.5 million in honor
collected charity auction organization reached and this of funds all to refugees help to give
according to humanitarianism initiatives support for to UNICEF sent. To 2023 Heritage auctions
general sales of $ 1.76 billion organization reached west auction houses between third place.
On june 1, 2020, Heritage auctions in the Dallas area three Dallas-Fort Worth international
airport near west Airport freeway and valley view lane Dallas, together northwest in the corner
located new world to headquarters basis sold, 160,000 square meters foot to the object 600
people in the company 450 of its employees placed. The company's In New York city offices on
park Avenue located. Its in New York City activity mainly figurative art to the industry Heritage
Company
west in Beverly Hills, California on the beach branch Olympic on the boulevard
Located in San Francisco, California, in 2011, Heritage Greg Martin auctions in buy took and
who increased trade of your house weapon and to weapons specialized division organization
Heritage in 2015 in Hong Kong own representative office open through own activity expanded.
2017 in the spring the company is located in Palm Beach. Offices with Florida branch opened.
January 2017 in the month company in Chicago office opened, also in London in 2017 new
office in 2015, Heritage auctions of the Netherlands IJsselstein in the city MPO located buy
received. MPO with merger thanks to Heritage auctions in Belgium Brussels on the outskirts in
Zaventem located to the office has it has been
.
Phillips
- in 1796 James Christie's employee was by Harry Phillips basis placed. Located
Location: London, Great Britain. Phillips London, New York, Geneva, Berlin, Brussels, Los
Angeles, Milan, Munich and In Paris offices there is was modern art in the world the most
famous auction from their homes one. New York, London and in Geneva modern art,
photography, design and jewelry in the fields auctions Phillips also advises
also provides
services including personal
collections working also provide output in the 1970 s, Phillips
international to the field came out and Sotheby's and from Christie's then third place by the end
of the 1990 s from, Phillips auction house Geneva, New York, Zurich and in Sydney auction to
their homes has was. In 2008 luxurious goods to sell specialized Russian company Mercury
Group by buy received
Bonhams
- in 1793 antique print Thomas Dodd book seller specialist with walter Bonham
cooperation when he did organization company
expanded, by the 1850 s antique of goods
all categories, including jewelry items, porcelain items, furniture, weapons and armor and wine
with busy started. Today on the day art works, antique items and cars with is engaged in. From
2013 to present Bonhams Headquarters Great At 101 New Bond Street, London, UK his/her
own new headquarters
organization in 2015, he sold Knightsbridge of the center seven
bedroom reconstruction completed, in 2016 Bonhams held its first online auction held in 25
countries whole world along offices and regional to representatives has. Present of the day owner
Britain's epirus private investment company is considered, then worker employees number 1200
people organization (as of 2024 ) London, Paris, New York, San Francisco, Los Angeles, Hong
Kong, Sydney, Bukowskis, Stockholm, Helsinki, Bruun Rasmussen, Copenhagen, Boston,
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Cornette de Saint Cyr in art works, cars, antiques collections auction trade sales passing, they
are coming
Poly auction -
July 1, 2005 organization done is the address China, Beijing. It is a state-owned
China Poly Group. Conglomerate to the composition Hong Kong, Macau, Taiwan
Taipei,
Japan Tokyo, USA In New York official representative offices available. 2005 November Poly
auction in Beijing first large auctioned trade held. Lottery between famous Chinese artists
pictures there is was. Currently in the world the most fast developing auction house recognized
as. Poly auction activity mainly China art his works sell with is limited, it 's just a matter of
traditional figurative art about not, who-has-gone to trade calligraphy masterpieces, pottery, rare
books and manuscripts, jewelry items and others will be added. Lots between west also find
wines possible
Art Vernissage auction
- April 24, 2023 for the first time today in Uzbekistan opened auction at
home art his works auction trade was held. The first to the auction In Uzbekistan activity shown
figurative art of the representatives art works they were put. In Viktor Ufimsev, Master Mo'min
(Alexander Nikolayev), Ural Tansiqbayev suchas there are many artists. Years in the republic art
his works assessment methodology and assessment organizations not to be because of art works
market not developed and was not formed. As a result many
talented youth, future mature
painter, sculptor and masters other in the fields activity showing is coming. This situation change,
art
representatives dream to come true release for the purpose ours company's first initiative
with "it came out", he said expert
.
Conclusion
as this to say possibly Christie's and Sotheby's auctions in their homes expert as
there are PhDs working. Some large to museums curator were, again some curator to be for gone,
others and in the galleries ten annual to experience has. Here one how many years during of the
industry strong specialists worked and arrived came out, one how many years during of the
industry to the development contribution additive private school
created if we say correct
would be was.
Many small auction in their homes all "Europe for art" responsible was one expert works at,
Sotheby's and at Christie's and various periods for experts exists, therefore for they to mistakes
less inclined, they have of materials authenticity assessment for technician analyses done
increasing restaurateurs there are, they are only see through to check they do not rely on
Many antique items and art auction trade organizers commission payments hammer price tall or
low from 28% to 14.5 % depending on changing It costs. Charity at auctions and charity
organizations and public from the auction fallen 100 percent of the money They think they will
get it, but auction trade organizers by for example Bonhams, from the sale fallen all receipts
charity to their work redirection announcement did, then in fact paid 25 percent of the money in
itself commission payment as admitted that he would stay, this Flog It company's antique items
according to specialist Charles Hanson of television programs in one so said: "If anyone
increased trade house all income to charity goes if and it is charity auction as announcement if
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done, hammer when hit item how much from sale strict charity, charity organization buyer paid
complete the amount to receive "need"
.
There are antique and art auctioneers in many countries around the world who organize online
and offline auctions. Based on the experience of large antique and art auctions, they typically:
Organizes offline auctions using the English and Dutch auction formats. This is because when
organizing offline auctions of antiques and works of art, it is more effective to use the English
and Dutch formats, as such auctions usually sell famous works of art and antiques of historical
importance for high prices;
Are organized using the English and sealed first price format. This is because it is more efficient
to use the English and sealed first price format when organizing online, as such auctions
typically sell less historically significant, less well-known, and newer antiques and works of art.
It is worth noting that high prices are achieved through the widespread use of all 4 types of
trading formats (English, Dutch, first sealed price, Vickrey) that are common in the world when
organizing auction sales of antiques and works of art.
The auction sector of antiques and works of art is not well developed in Uzbekistan. In order to
develop this sector, it is first of all necessary to introduce a legal framework for the sector.
Auctions used in other sectors are organized mainly using the English auction format, and other
auction formats are not widely used.
The time for advertising an object in the media after it is put up for sale is clearly defined by
Article 380 of the Civil Code of the Republic of Uzbekistan. The code stipulates that the
property must be advertised in the media for 30 days before the sale date, after which the sale is
organized, which does not correspond to the characteristics of some objects that must be quickly
sold and directed to consumption. Simply put, Article 380 of the Civil Code is more suitable for
organizing auction sales of real estate.
In order to widely develop the secondary market for auction sales of antiques and works of art, it
would be beneficial for the secondary market to flourish if the property owner could freely use
any of the four auction formats and voluntarily determine the duration of the auction. After all,
our constitution establishes the inviolability of private property, according to which the property
owner must freely and voluntarily choose the format and conditions of the sale.
In addition, there is a fixed income tax rate set by the state for auction organizers, which is set at
33%, which, given the new nature of the industry, can be an obstacle to its development. It is
advisable to provide incentives for the initial years.
It would also be appropriate to introduce a single register of works of art of state importance, the
sale of which is also legally prohibited in Uzbekistan, and to develop a secondary market by
forming a market for the sale and purchase of personal and private historical antiques and works
of art that are not included in the register. However, our main goal is to ensure the employment
of our local craftsmen by developing the auction market for new antiques and works of art, to
pave the way for them to take their place in the world market, and to increase the inflow of
foreign currency into our country in this way.
In addition to the above, since June 1, 2017, entrepreneurs in the Republic of Uzbekistan have
been allowed to export goods they have produced on the basis of contracts with a total amount
not exceeding the equivalent of 100 thousand US dollars, in foreign currency without advance
payment, without opening a letter of credit, without issuing a bank guarantee, and without an
10
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insurance policy for the export contract against political and commercial risks
. The head of our
state is providing export duty exemptions, which is an important factor for the development of
this sector. In addition, the issue of delivering antiques and works of art to foreign customers
who purchase them online in a complete and intact condition is also important.
In connection with the Decree of the President of the Republic of Uzbekistan No. PF-5721 dated
May 18, 2019 “On measures for the accelerated development of the jewelry industry in the
Republic of Uzbekistan”, on November 7, 2022, President Shavkat Mirziyoyev instructed
individuals to allow the export of jewelry
worth up to $10,000 from December 1. On June 19,
2024, President Shavkat Mirziyoyev was presented with measures aimed at further developing
the jewelry industry, supporting the production and sale of jewelry, and increasing the export of
finished products. Our country has great potential for increasing the production and export of
jewelry products. The head of our state noted that only 6 percent of the gold mined in our
country is processed, and only $ 78 million is exported, and emphasized the importance of
creating jewelry zones with special conditions for entrepreneurs, supplying raw materials to the
industry, training specialists, and completely revising the production chain and sales system
The policy of the head of our state in this regard will also be an important factor in the
development of auction sales of jewelry, which is an important part of antiques and works of art.
Auction sales of antiques and works of art began 250-300 years ago in both developed and
developing countries and have been developing well to this day. In a sense, it should be said that
the most developed auction sales in the world are auctions of antiques and works of art.
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29.12.2024
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https://www.reddit.com/r/MuseumPros/comments/16l87vo/bonhams_christies_sothebys_wha
29.12.2024
13. https://www.theguardian.com/society/article/2024/jul/07/top-uk-auction-house-told-to-stop-
taking-buyers-premium-for-charity-sales 29.12.2024
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15. https://www.gazeta.uz/uz/2023/10/31/jewelry/ 03.01.2025. Source Gazeta.uz
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