JUNE 8, 2009, Sotheby’s London biannual Russian Art Evening Auction achieved the solid total of £7,906,050 ($12,546,901), within its pre-sale auction estimate of £6,740,000-9,920,000, and was very well-attended. The sale was 63% sold by lot and 73.3% by value, and saw new auction records established for four Russian artists: Isaak Brodsky, Boris Kustodiev, Konstantin Kryzhitsky and Vladimir Lebedev.
Commenting on this evening’s sale, Jo Vickery, Senior Director and Head of the Russian Art Department in London, said: “Tonight’s sale was the first test of the Russian Art Market at Sotheby’s in London this year and we are extremely encouraged by the results established. The prices realised for the rediscovered painting by Brodsky and the work by Kustodiev, both of which set new auction records, demonstrate that the buyers and bidders in this adjusted market are prepared to compete hard for high-quality works that are fresh to the market and rare. This evening’s sale has provided us with valuable information about the Russian art scene in the recalibrated market and we very much look forward to the sales of Russian Art that follow at Sotheby’s this week.”