The paper "Contemporary Art in Russia" talks about Russian Contemporary Art. It gave the Union new foreign policies that achieved political power. The policy of Perestroika with it market reforms influenced the Russian art scene and function of the art centers. Perestroika influenced the functions of museums, contemporary art and the market since its inception. It also influenced the role of contemporary spaces such as the Loft Etashe and the Garage Center. Museums such as the Museum Of Non-Conformist Art, Hermitage and the National Center of Contemporary Art also felt the influence of the Perestroika policy. During the inception of the policy, the market for art in Russia experienced a boom. However, the financial implications that followed Perestroika resulted to a decline of art sales. Sotheby used to host an art auction, but it was closed in 1988. The auction was later reopened in 2007. 22 years ago, the Russian art market was withdrawn from the rest of the globe. However, the Ministry Of Culture in Russia persuaded Sotheby to hold an auction of contemporary Russian art in Moscow. The aim of the auction was to portray to the world the message of Perestroika and expose contemporary Russian artists to the world. All the contemporary art sold on the auction was exclusively for exportation. The auction turned out to be a market success. The auction raised two million Euros, and it increased the earning from art for the Russian artists. Some of the art pieces fetched up to 242,000 Euros at the time.
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