ARTS / RUSSIA: Auction house brings old and contemporary master works to Russia to promote its sales

Christie's International, the world's largest auction house, sent some 40 artworks to Moscow, including paintings by old masters such as Vermeer and Rubens as well as works by Faberge. The exhibition, of the highest profile, opened on Thursday (October 18) in a 19th century mansion that stands opposite the Kremlin, and hopes to attract the attention of Russia's wealthy. Russia is in its ninth year of economic growth, in large part driven by demand for oil, gas and metals. The country's newly affluent entrepreneurs are purchasing art for reasons that range from financial investing to home decorating as well as from a desire to build a collection. "We found that Russian buyers have been very interested in our post-war auctions, our contemporary art auctions and particularly our impressionist and old-master auctions in the past three years. The growth of interest from Russian clients has been immense," said Jussi Pylkkanen, President of Christies's Europe. Christie's said the three- day exhibition will promote sales of old masters, impressionist and modern art, postwar and contemporary art, as well as Chinese and Latin American works. Among the Moscow exhibition's top draws are a ``Liz'' by Andy Warhol and an an oil sketch by 17th century Flemish painter, Peter Paul Rubens, ``Two Studies of a Young Man,'' which is estimated to sell for up to 6 million pounds. An 1897 Faberge picture frame, a gift from Russian Emperor Nicholas II and Empress Alexandra to their godchild, Prince Georges, is also on display and is expected to sell for up to $1.8 million.

ITN Source | October 22, 2007

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