Russian Art week at Sotheby’s off to a strong start

KOLKATA: Hot on the heels of two exceptional pre-auction private sales, Russian Art week at Sotheby’s is off to a strong start. November 25 night’s evening sale of Important Russian Art realised a near top estimate £7.8 million, with over half the lots sold achieving prices above top estimate.

Earlier on Monday, Sotheby’s held a pioneering new auction of contemporary art from Russia and Eastern Europe. The sale – the first ever of its kind to be staged by an international auction house – was extremely well received, establishing 9 new auction records for artists from across the region.

Jo Vickery, senior director, head of Russian Art, said in an email statement: "There’s tremendous energy in the Russian market - it was tangible in the saleroom on November 25, and in the exceptional prices achieved. There are two dynamics at play: established collectors are still out in force, driving new records for blue chip artists, and new blood continues to surge into the market.

In the pioneering Contemporary East sale today, we saw unprecedented enthusiasm for Russian and Eastern European contemporary Art - often from collectors we had never encountered before "