Art News

Christie’s Russian Art Sales Results illustrate a Buoyant Market

LONDON.- The mid-season Russian Art Sale took place today at Christie’s and realized £11,935,750 / $17,330,709 / €14,466,129 selling 76% by lot and 90% by value. The sale had a pre-sale estimate of £7 to £10 million. Enthusiasm and excitement for unique objects and paintings led to a packed saleroom and to a very high bidding participation throughout the day. Christie’s Russian Picture section result 2010 is up by 92% compared to December 2009 and this season works selling above £100,000 has nearly tripled. Alexis de Tiesenhausen, International Director of Russian Art at Christie’s: “The sale sent a strong signal to consignors that demand is high and that knowledgeable buyers from around the world are committed to acquiring works of art. Competitive bidding saw seven of the top ten lots sell above their pre-sale