Moscow fair cancelled

Financial climate scares off sponsors
Brook Mason 30.1.09

GENEVA. The Swiss company Art Culture Studio has cancelled its sixth annual Moscow World Fine Art Fair, which had been scheduled for 25 May to 1 June at the Manege.Sixtine Crutchfield, Art Culture Studio's general manager, blamed the financial and political climate for the decision, which was announced today.
“Dealers David Morris and Moussaieff had signed up only yesterday, but the fair had been unable to secure sponsors,” she said. Last year's sponsors included Singapore Tourism Board, Exclusiv Aviation and ArtMedia.
This year, 60 participants had signed up for the fair, but the luxury brand firms Louvre and Mercury, which recently purchased the auction house Phillips de Pury, had ruled out the individual participation of Bulgari and Harry Winston.
“We believe that the financial and political climate in Russia is such that many potential buyers could have cold feet next May, and hence it is unfair… to hold an event when all indicators tend to say that there will not be much business going on,” said Ms Crutchfield.
“Last but not least, we believe it rather tactless to hold such a lavish event in times like these,” she added. But she also said the company's Salzburg World Fine Art Fair would go on as usual in August.
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