TWO PAINTINGS by recently-deceased artist Lefteris Economou were sold for well over their reserve price at an auction in Nicosia Hilton this week.

It was the first auction that featured his paintings since the artist died last week, aged 77.

The auction was held by Psatharis Auction House and featured dozens of paintings by Cypriot artists.

Nicos Psatharis told the Sunday Mail that an Economou watercolour, titled Frenaros, which had a reserve price of £300 was sold for £700. A second painting titled Pericleous Street went for £2,600. The reserve price was £1,900.
Both paintings came from private collections. Psatharis said the auction was very successful, although the bids for Economou’s paintings did not go sky high. “He only died recently and some time will be needed for the market to become clear,” he said.

At another Psatharis auction last May, also in Nicosia, three Economou paintings went up on sale. Harvest, an oil-on-canvas, signed and dated 1959 went for £7,035.
Rated by critics as a master of the Diamantis / Kanthos / Savva generation of artists, Economou drew inspiration from the earth and its people.

His themes cover folk art, the rural landscape, old and neglected neighbourhoods, the narrow streets of Nicosia and the dignity of labour.

He has displayed his work in numerous solo and group exhibitions in Cyprus and abroad. He took part in several international exhibitions in England as well as appearing in America, India, across Europe and Egypt.

Three of his major works can be seen hanging in Kykkos’ Lyceum A’, Strovolos Lyceum and the Makarios hospital.

His works can also be found in private collections in Cyprus, Greece, Australia, England, Canada and Japan, among others.

From 1955 until his retirement in 1990, Economou worked as an art teacher in the middle school system, taking classes in both fine art and technical drawing, though this in no way hindered his independent work as an artist.