MacDougall Leads Russian Art Market

COWBOY: The sale of 'The Little Cowboy,' by an American-Russian artist, turned into a showdown between two collectors, with the winner paying over $10 million. (Courtesy of MacDougall Auctions)

A beautiful painting by Ivan Shishkin called “View of Valaam Island. Kukko” sold for $2.9 million, the second-highest result achieved during Russian week.

With an impressive team of Russian art experts, MacDougall’s regularly establishes new world records with its sales and is confident the market is set to see more improvements.

“Some sectors of Russian Art, such as early 20th century and 19th century art, are very attractive to wealthy Russians who studied such paintings in school. Other sectors, such as Russian Contemporary, Soviet Realist, and Emigre Art are very good value relative both to Russian Classic and to International Art. The Russian and Ukrainian economies are growing, and art is a way of participating in that growth, with limited political risk,” MacDougall explained, via email.

Mr. MacDougall is optimistic about the upcoming auctions in 2011, saying, “We expect a strong sale of Russian Art in June.” It is too early for MacDougall to reveal any specific art works, however.

“In July we have our inaugural auction of Old Masters and European Art, an expansion from our continuing specialty of Russian Art; we expect a good start to the new area,” MacDougall said, via email.