On November 26 and 27, Sotheby’s will be holding three auctions of Russian art in London. The sale includes work by 19th century realists Ivan Aivazovsky, Konstantin Makovsky, Konstantin Korovin, Ivan Shishkin, Mikhail Nesterov, and many others.
Last week, to help promote sales, the auction house brought 24 of the paintings to be sold to the State Historical Museum in Moscow. The exhibition ran from November 8th to the 11th, and was targeted at the Russian buyers who account for nearly 80 percent of Sotheby’s Russian art sales.
Sales estimates for these auctions range as high as $75 million. Jo Vickery, the head of Sotheby’s Russian art department provided some perspective on the growing demand for Russian art:
“The prices on Russian art, for example between 2006 and 2007 – they grew by around 45 percent, that is an enormous growth. It shows and demonstrates the kind of interest that we have for Russian art today among new private collectors in Russia.”
Sales at the first two of Sotheby’s three Russian art auctions this week totaled $80.1 million, exceeding presale estimates. Jo Vickery, head of Sotheby’s Russian art department called the sale ‘historic.’
“It shows the Russian art market has come of age and has reached the level of other major art markets.”
Links to auction catalogs for:
Russian Art Evening