VLADEY is the first contemporary art auction house in Russia and was founded by collector and entrepreneur Vladimir Ovcharenko in 2013. The auction house has earned a strong reputation among collectors and artists and has since become a leading art market authority. Twice a year, in autumn and spring, VLADEY conducts three sales: an Evening Auction, a curated auction (with all lots selected by a guest expert) and a One Price Sale (where every lot starts at 100 euros). This third type of sale is an innovation among international auction practices. VLADEY auctions are broadcast live so buyers can bid from wherever they are in the world. The average proportion of works sold at VLADEY is 75 percent, which is considered to be exceptionally high and meets international standards. In the past three years alone, some 250 art pieces by Russian artists have been sold throughout the auction's activities. In the majority of cases, these sales constituted the debut auction exposure for the authors.