Auctions in Russia began to appear only in the late 1980s, during perestroika. This is also the time when the first automobile auction took place. More than a decade later, the revenues of Russian auctions are still much smaller than of western ones.
Out of a large variety of auctions which are held the most popular and spectacular are the auctions in arts: Russian and West-European paintings, graphics, jewelry, articles of decorative and applied arts. The arts market is now experiencing a boom in all its spheres. According to analysts, this is the best place to invest one's capital in the confusing state of the Russian market.