Record price for a painting by Greek painter Parthenis

The work of Konstantinos Parthenis “The apotheosis of Athanasios Diakos” emerged as the top work of the auction of works of Greek art by Bonhams, which took place on Wednesday in Paris, as it changed hands for 644,313 euros, an amount much higher than the highest initial estimate of the house which was 550,000 euros. This price is a record for a work by this artist. The work, measuring 1,175 x 1.17 m., was created in 1927 and is an earlier version of the 1933 composition that belongs to the collections of the National Gallery.

The turnover of the auction reached 4,197,588 euros. 120 of the 152 works on the list were sold, ie 78.95%.

The “Apotheosis of Athanasios Diakos” that conquered the top of the auction in Paris was followed by “The Emperor Constantine Paleologos in the battle of May 29, 1453” by Theophilos Hadjimichael, occupying the second place, as it was sold for 350,313 euros, ie almost twice the price of initial estimate, which ranged from 120,000 to 180,000 euros.

The third most expensive work was the painting by Nikos Eggonopoulos “Commentators of a future text” with 275,313 euros. This was followed by “To tama” by Nikolaos Gyzis with 250,313 euros and the five most expensive works of the night closed with Giannis Moralis and the work “Near the sea” (2006) which sold for 225,313 euros. It is interesting that this painting, although it had a lower initial estimate (80,000-120,000 euros), surpassed by two places the second work of the artist in the auction entitled “Poetry”, created in the period 1965-67. Although the initial estimate was between 100,000 and 150,000 euros, it was eventually sold for 125,313 euros.

Positive are the messages that emerge from the image that was formed after the end of the auction, according to the director of Art Expertise and head of the 39th auction of Bonhams with works by Greek artists Terpsichore Angelopoulou. “The importance of art was highly valued during the period of confinement and this was reflected in the market from the very first auction we organized, in May 2020, immediately after the first period of confinement. Since then, the course has been steadily upward”, the director commented to “NEA” newspaper. As for the big picture – in addition to the symptoms of the pandemic – she pointed out two factors that play a role in shaping the art market. “First, in times of rising inflation, there is a shift of investors in the real estate, art and jewelry market. Secondly, strange as it may sound, during the financial crisis those who had good works in their hands did not want to sell them as they did not want to have low results in auctions. They preferred to sell them in a dynamic and healthier market. And when, of course, very good works are brought to the auctions, the market responds “.

18,750 euros for a drawing stolen by the Nazis

Carl Spitzwegg’s small pencil drawing may have gone unnoticed at Christie’s auction last Wednesday. However, the fact that from the maximum initial estimate of 1,500 euros its price skyrocketed to 18,750 euros turned the focus on him and his story was revealed: this is one of the works of the Gurlitt collection, which due to a typical customs control in 2012 was found to have in his possession more than 1,500 works with signatures of Picasso, Monet, Matisse etc. The works were confiscated to see if they had been looted by the Nazis. This drawing is one of those that the Nazis have proven to have taken away from their owners. Its owner, Jewish publisher Dr. Henry Heinrichsen died in a concentration camp and the work was sold by his descendants.