Malevich painting fetches record price
Published 04 November, 2008, 10:41
A painting by Russian avant-garde artist Kazimir Malevich has sold for more than $60 million at a Sotheby's auction in New York.
The 1916 'Suprematist Composition' fetched the highest price ever for a Russian artwork and smashed the previous $17 million dollar record for the artist.
The abstract piece appeared alongside paintings by Degas and Picasso at the well-known auction house. However, other big-ticket works sold below pre-auction estimates or failed to sell at all.
The current financial climate has meant a disappointing bidding season at the annual autumn event.
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