Sotheby’s Holds Record-Setting Russian Art Sale in London


The market for Russian art has shown signs that it is beginning to haul itself out of the doldrums with Sotheby’s achieving a sale total of £12,589,125 / $15,616,810 against an estimate of £8.3-12.1m for its November 29 Russian Pictures sale in London. The sale also achieved new auction records for Alexander Rodchenko, Ilya Chashnik, Danil Stepanov, and Vasili Chekrygin.

The star of the show was Alexander Rodchenko’s “Construction No.95” 1919. Rodchenko’s masterpiece sold for £3,646,250 / $4,523,173 (est. £2.5-3.5m), smashing the previous auction record for the artist of £420,000 ($646,000) set by Sotheby’s in New York last year. The important painting was consigned from a single-owner collection of Russian avant-garde works.

The surprise lot of the auction was Ilya Chashnik’s circa early 1920s Suprematist masterpiece “The Seventh Dimension, Suprematist Relief,” which sold for a record £2,408,750 / $2,988,054 against an estimate of just £100,000-150,000. The work is one of only a few surviving works by the leading exponent of the Suprematist movement.

Ilya Grigorievich Chashnik 1902-1929 THE SEVENTH DIMENSION, SUPREMATIST RELIEF

Source: ARTInfo