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AUCTIONS page 39
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that he filed — and won — a li-
bel suit against a disgruntled
artist.
More than any court decision,
success has vindicated Mr. Yariv.
Since the institution of the auc-
tion, prices have risen steadily for
the prominent names in Israeli
art, and the number of art col-
lectors has grown significantly.
Mr. Yariv believes that the exis-
tence of art auctions has given
people the security they need to
invest in art.
For about 12 years, the Gordon
Auction was the only serious pub-
lic auction in Israel. Gradually,
that has changed. Israel got the
international stamp of approval
as a significant art market when,
about six years ago, Sotheby's en-
tered the scene. Christie's came
in a year ago.
Mr. Yariv believes that appre-
ciation of art, and the proportion
of collectors relative to the popu-
lation in Israel is "truly unbe-
lievable" and unique in the world.
Mr. Yariv says that his dual
roles of a gallery owner and an
auctioneer leave him feeling
"slightly schizophrenic" at times.
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Auctioneering, he says, "is a
business in which you cannot
lose. You can earn less, you can
earn more, but you cannot lose.
You don't buy things. The
turnover is such that, despite the
substantial overheads, covering
them is not a problem. We're talk-
ing about producing a catalog,
finding a place."
As a gallery owner, he wants
to discover and encourage young
artists, a task that is much more
difficult and less profitable than
putting together a successful auc-
tion.
In the end, Mr. Yariv believes,
auctions benefit everyone in the
art world. True, some people who
would otherwise buy from gal-
leries may wait for an auction to
make their next art investment.
But overall, auctions have in-
creased the public's awareness of
art and their understanding of
precisely how potentially prof-
itable the right investment in art
could be.
Mr. Yariv says that it is im-
possible to profile a typical col-
lector. "At my auction, 90 percent
are Israeli collectors, and about
10 percent are buyers from
abroad ... Some people come to an
auction and buy 10 or 20 paint-
ings, the next person will buy just
one and the next person will not
buy anything. The number of
buyers is growing from auction
to auction; that's a good sign. It
shows that the number of collec-
tors is getting bigger. That's good
for our future." ❑