Stockholm Auktionsverk was Lucky Thanks to the Icons

Ivan Aivazovsky. A Corner of Constantinople from the Sea by Moonlight. 1878. Canvas, oil. Lot was sold at a price of SEK 3 300 000. Stockholm Auktionsverk. The Russian Auction. Stockholm, October 2

Stockholm Auktionsverk auction house held a big Russian bidding that took place on the 2nd and 3rd of October in the capital of Sweden. The unique collection of paintings, graphics and icons as well as miniature plastic arts, jewellery and other works of decorative art was presented to the collectors, most of them Russians. Stockholm Auktionsverk put up for sale 459 lots in total.

More than half of the lots were presented on October 2 during the first auction session which became an absolute failure. According to the results less than 50% of lots were sold and most of the top lots were not passed out while some of them were sold at a price much lower than the estimate.

For example, The Singer by Konstantin Egorovich Makovsky (1839-1915) estimated at SEK 2 000 000−3 000 000 went to a new owner just for SEK 1 500 000.

On the contrary, the night landscape A Corner of Constantinople from the Sea by Moonlight by Ivan Konstantinovich Aivazovsky (1817-1900) made a good result. It was sold with the double excess of the estimate and became the main top lot of the auction. The final price of the painting was SEK 3 300 000.

A good result was achieved by the genre composition Peering Over the Gate by Khariton Platonovich Platonov. The painting estimated at SEK 800 000−1 000 000 brought SEK 1 450 000 to the auction house. The provenance of the painting is private collection in Sweden.

Among the items that were not sold one should mention Cavalry Skirmish in the Village by Alexander Bogdanovich Villevalde (1857-After 1906). The canvas estimated at SEK 1 500 000−1 800 000 did not find a purchaser. The same happened to the painting The Horse Groomers by Piotr Nikolaievich Gruzinsky estimated at SEK 1 700 000−2 200 000, the landscape Krylatskoye Field by Piotr Petrovich Konchalovsky and many others.

Konstantin Makovsky. The Singer. 1892. Oil, canvas. Lot was sold at a price of SEK 1 500 000. Stockholm Auktionsverk. The Russian Auction. уФПЛЗПМШН, 2 ПЛФСВТС

Talking about the unsatisfactory results of the first auction day Stockholm Auktionsverk explained that the reason was in the world financial crisis, low activity of Russian collectors and they even counted the falling percent at the Russian stock market. But to explain the results of the next auction session where the icons and decorative art items very presented is not so easy. Having the same low level of sales this string showed an enormous estimate enlargement.

A finely painted Icon of Saint George slaying the Dragon, early 20th century, was presented with the estimate at SEK 50 000−70 000. But during the bidding the price of the icon became ten times bigger and equaled SEK 700 000.

The price for small Icon of Saint Nicholas, early 20th century, encased in a silver oklad was increased six times. The icon estimated at SEK 10 000−12 000 was sold for SEK 60 000. The same situation appeared in the decorative art section. The highest price equaled SEK 1 250 000 was paid for a silver-mounted nephrite glove-box made in 1875 by Sazikov workshop in St.Petersburg. The opening price for this small was only SEK 150 000.

Nybrogatan 32, PO Box 5274, SE-102 46 Stockholm
Tel.:+46 8 453 67 50

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