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The 25th
Psatharis Auction, offering 130 works, was held on the 5th of
December in Nicosia. With 89 of the lots sold, the auction
totaled 291.443 achieving 68% by lot and exceeding 100% by
value.
The results show
the Psatharis Auction took a leap compared to the auction at the
equivalent period last year. In December 2017, the auction took
in 176.000 achieving 61% by lot and 59% by value.
The leap, this
season, notes a positive and steady return for Psatharis
Auctions revealing the Cyprus market of Cypriot and Greek art is
in steady upturn. In 2012 the financial crisis in Cyprus had
nearly brought down the art market.
Top
lots
The Secret, a unique and important painting by Cypriot artist
Adamantios Diamantis achieved the highest price realizing
35.350 against its presale estimate of 23.000. The Secret
marks a slight departure from traditional painting which was the
artist's main focus. In Secret, Diamantis explores the
geometricity of form and experiments with sculptural effects
alluding to the art of Henry Moore.
The second
highest price achieved for Lifeline by emblematic Cypriot
modernist Christophoros Savva. Lifeline is one of the first
modern art paintings exhibited in Cyprus by a Cypriot artist.
Lifeline sold for 25.929 beating its presale valuation of
19.000.
Additional great
results were achieved for the Woman pulling yarn and Woman in
the wardrobe by naοf Michael Kashalos which sold for 22.391
against an estimate of 16.000, and for the Sofia Kyrillou and
goats by Telemachos Kanthos which fetched 17.677 against a
presale estimate of 10.000.
Bidding
Bidding was furious for the painting Xanthis Xenierou Street by
Cypriot artist Lefteris Economou which beat its bidding price of
3.000 with an impressive hammer price of 7.071. Bidding
behaviour was also impressive for the Figure by Greek artist
Demetris Mytaras which realized 5.185 against its presale
estimate of 3.000.
Equally
impressive was bidding for two paintings by Photos Hadzisotiriou
each sold for 4.949 against their presale valuation of 2.400.
The Red Jar by Xanthos Hadzisotiriou sold for 4.478 beating its
bidding price of 1.500.
Sleep by
emblematic Greek painter Polykleitos Rengos achieved a hammer
price of 3.299. Without Title by Giorgos Derpapas and Butterfly
by Demetris Geros realized 6.481 and 3.064 respectively.
Without Title, a water colour by emblematic Greek artist Yiannis
Gaitis sold for 1.178.
Bidding was impressive also for a map of Cyprus by Vincenzo
Maria Coronelli which sold for 3.064. A total of nine out of 12
maps of Cyprus were purchased at the auction.
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