The largest items in Latvia auction of paintings and decorative arts, which spent the weekend auction house «Mākslas Vēstniecība» bank «Rietumu», were a great success and set a number of records

Liepins lakov
Fishermen Oil on canvas. 71 x 90


Zarins. IA Casino. 1993
canvas. 120 x 96

largest in Latvia auction of paintings and objects of arts and crafts, which are held over the weekend auction house «Mākslas Vēstniecība» bank «Rietumu», were a great success and made a number of records.

From presented at auction 300 lots were sold for nearly half (48%), total trading volume exceeded with 295,000 euros, a 20%overlap last year's result. The auction was attended by about 100 businesses and individuals. All these figures, experts say, is a record for the local market.

main interest focused buyers in the segment of the Latvian art 1930-40's and 1970's and 80's. As expected, the main battle took place for the top lots. Gorgeous, museum-quality work of Janis Liepins "Fishermen" at an initial price of 11.1 thousand dollars was sold in more than 28 thousand dollars. It is a small landscape "Kaugurtsiems" in the bidding price increased by 2.5 times and was purchased for 4.8 thousand dollars.

«Landscape with birches" Liberta was auctioned off for 9.8 thousand dollars, which is two times higher than the starting price. Another picture of the author, "Winter Day in Tornakalns" was sold for 12.8 thousand dollars, at an initial price of 8.4 thousand dollars. Almost one and a half to two times raised the price of the works of B. Berzins, K. Miesnieksa, L. Cocle, R. Pinnis, L. Endzeliny, J. Zarins (work last "horse riding" at a starting price of 5.2 thousand was sold for U.S. $ 6.5 thousand dollars, and the monumental "Casino" went under the hammer for 10.8 thousand dollars). Significantly higher initial prices have been sold by Alexander Beļcova, Charles Rosen. This battle took place and the graphics Vidbergs Sigismund. Traditionally, great interest was the author's porcelain plastic Latvian masters. On many items the total price of two or more times higher than the starting.

lowest activity was observed in the segment of jewelry and contemporary painting. In particular, it did not sell the monumental canvas Maya Tabaka "The Lady with the camel," a magnificent work of Gemma Skulme tones, landscapes Janis Osis.

«We are very pleased with the results, consider that we have been able to predict demand and make a good selection of works. This auction is traditionally concludes the spring session of trading with art in Latvia and in a sense, sums it up. Today we can see if you do not rise, a significant recovery of the market. We believe that this is largely due to changes in market psychology and of overcoming the crisis, "sleep", and that, together with collectors on the market and investors are present, then there are those who choose the object of investment art - said Aigars Grinbergs, head of the auction house "Mākslas Vēstniecība". - For ourselves, we have noted, and a new market for the Latvian group of buyers - the Russians and other "new Latvians" who took advantage of changes in immigration law and have a residence permit in Latvia. It's nice that to decorate their new homes and apartments they buy the work of local artists ».

« Such auctions - a good indicator not only of the art market. Buying a house, office, or just planning to take this step, people think about the future of interior decorating. The real estate market and the art market are linked by natural ties, and say a lot about each other. In this case we see positive signals in all respects ", - said the head of the department, the curator of the Bank's programs« Rietumu »in the arts Sergey Grodnikov.

Source : press release auction house «Mākslas Vēstniecība»