This total brings Sotheby’s 2012 global total for auctions of Russian art so far this year to $30,868,478, reconfirming Sotheby’s position as market leader in this field.
Sotheby’s sale of Natalia Goncharova’s ‘Still Life (Bluebells)’ for £2.95/$4.64 million establishes the highest price of the May season of Russian art sales in London. The day sale of Russian paintings realises highest total for a day auction in this field at Sotheby’s for two years.
Sotheby’s London evening and day sales of Russian art establish a combined stable sell-through-rate by lot of 62.5%.
Four new artist records established for: Mikhail Vrubel, Adolf Ladurner, Alexander Makovsky and Alexander Gerasimov. 12% of buyers in the Evening Auction of Important Russian Paintings were new to Sotheby’s.
The evening auction of Important Russian Paintings saw buying from the UK, the CIS, the rest of Europe, the US, and even Asia.
Commenting on the results of Sotheby’s Russian Art Sales this week, Jo Vickery, Senior Director and Head of the Russian Art Department in London, said: “We are extremely pleased with our series total of $26.1 million, which brings our overall total for Russian Art sold at Sotheby’s so-far this year to $30.8 million, confirming our position as leader in the field of Russia Art. For our auctions this season we were focused on sourcing fresh property from private collections, and almost 80% of the paintings – and nearly 60% of the works of art – we offered came from private collections, including in the US, the CIS, UK, France and Continental Europe. With the quality of works we were able to source, we attracted new buyers to this field and successful bids came from across the globe, including Asia. We are also thrilled to have sold the top-lot of the Russian Art Sales Season in London this May with the price achieved for Goncharova’s Still Life (Bluebells).”
New York and London Russian Art Sale Totals for April and May 2012:
– April 17th Russian Works of Art, Faberge and Icons: $4,726,502 (£2,978,450)
– May 28th Important Russian Paintings Evening Sale: £10,049,250 ($15,780,337)
– May 29th Russian Paintings Day Sale: £4,302,525 ($6,745,929)
– May 30th Russian Works of Art, Faberge and Icons Day Sale: £2,316,575 ($3,615,710)