Art Market
In 2012, Christie's auctioned Kandinsky's Studie für Improvisation 8 (Study for Improvisation 8), a 1909 view of a man wielding a broadsword in a rainbow-hued village, for $23 million. The painting had been on loan to the Kunstmuseum Winterthur, Switzerland, since 1960 and was sold to a European collector by the Volkart Foundation, the charitable arm of the Swiss commodities trading firm Volkart Brothers. Before this sale, the artist's last record was set in 1990 when Sotheby's sold his Fugue (1914) for $20.9 million.
Read more about this topic: Wassily Kandinsky
Famous quotes containing the words art and/or market:
“The essential function of art is moral.... But a passionate, implicit morality, not didactic. A morality which changes the blood, rather than the mind.”
—D.H. (David Herbert)
“The market came with the dawn of civilization and it is not an invention of capitalism.... If it leads to improving the well-being of the people there is no contradiction with socialism.”
—Mikhail Gorbachev (b. 1931)