Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Russian Nobles Pay Off at £8m

June 11, 2014 by Marion Maneker

Vladimar Borovikovsky, Portrait of Prince Lopukhin (40-60k) 2.14m GBP
Vladimir Borovikovsky, Portrait of Count Kushelev (50-70k) 1.48m GBP
Vladimir Borovikovsky, Portrait of Daria Valueva (30-50k) 722k GBP
Vladimir Borovikovsky, Portrait of Princess Lopukhina (40-60k) 602k GBP
Vladimir Borovikovsky, Potrait of Countess Liubov (50-70k) 2.99m GBP

Colin Gleadell’s eye caught these Russian portraits that were sold at prices far in excess of their estimates. So he did a little digging and found out someone wanted the whole group of works very, very much:

Their appeal to a sense of Russian pride was enhanced by a prestigious provenance: the portraits were acquired in the Twenties by Prince Serge Obolensky, and passed down through his family.

Nothing by Borovikovsky had sold for more than £70,000 at auction, so Christie’s estimated these examples at about £50,000 each, although another portrait by Borovikovsky, owned by the Russian cellist Rostropovich, had been valued by Sotheby’s for a sale in 2007 at £400,000. Before that sale, however, the whole collection was bought by the Russian billionaire and part-owner of Arsenal football club, Alisher Usmanov, who gave it to the Russian state, so there is no record of the price it made. In the event, last week, Christie’s was swamped with bids. One of the group portraits sold for £3 million, and the five paintings, estimated at £210,000, sold for £8 million – all to the same anonymous phone bidder.

Art Sales: Russian cash talks louder than politics (Telegraph)

More from Art Market Monitor

  • Picasso's Black Bands of BondagePicasso's Black Bands of Bondage
  • The End of Aboriginal Art?The End of Aboriginal Art?
  • Who’s Guilty in the Jasper Johns Art Thefts?Who’s Guilty in the Jasper Johns Art Thefts?
  • The Whole Hantai Story: Why Galleries Are Doing Museum’s WorkThe Whole Hantai Story: Why Galleries Are Doing Museum’s Work
  • A Banksy Gets Bought to Be DestroyedA Banksy Gets Bought to Be Destroyed
  • Sotheby’s Photo Call for Munch’s The ScreamSotheby’s Photo Call for Munch’s The Scream

Filed Under: Auction Results

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor
 

Loading Comments...