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December 2013

 

RUSSIAN ART SELLS OVER £24 MILLION AT SOTHEBY’S LONDON

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Posted November 30, 2013 by in

AUCTIONS TOTAL: £19.5 MILLION
TWO MASTERPIECES SOLD PRIVATELY AHEAD OF AUCTIONS
RUSSIAN PICTURES FETCH HIGHEST TOTAL OF LAST FIVE YEARS

The star lot of Sotheby’s Russian auctions: A pair of magnificent Imperial vases which sold for £2,210,500

The star lot of Sotheby’s Russian auctions: A pair of magnificent Imperial vases which sold for £2,210,500

LONDON. Following the private sale of two masterpieces ahead of this week’s auctions, Sotheby’s Russian Art week closed yesterday with over £24million* of sales.

- Propelled by new buyers, Sotheby’s achieved its highest total for Russian pictures in the last five years, with 37 pictures selling for over £100,000 and over half of the sold works achieving prices above their pre-sale high estimates.
- At Sotheby’s four Russian art auctions, Sotheby’s achieved a combined total of £19.5 million of sales. They were led by a pair of magnificent Imperial vases which sold for £2,210,500 to a collector who had never bought at Sotheby’s before.

Jo Vickery, Senior Director and Head of Russian Art said:

“The success of this week is down to a variety of things. As ever, it’s great material that counts, together with an enduring demand from established collectors for blue-chip works. Beyond that there are new things happening in the market that are making such a difference: this week, we’ve seen new buyers interacting with us in novel ways, driving prices to new levels. It is great to see the market for Russian masterpieces thriving as one record after the other is smashed and also how new artists are making their name internationally.”

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