Romanian auction house Artmark more than doubles sales to EUR 11 mln

The Romanian art market posted significant growth in 2011. Artmark auction house reported total sales of almost EUR 11 million this year, representing 78 percent of Romania’s total public sales in the art market, according to the auction house. It was more than double compared to the year before. Artmark was followed by Goldart auction house with a market share of 11 percent, Alis with 9 percent, and other auction houses with the remaining 2 percent of the market’s total value, according to Artmark's year-end estimations. In 2010, Artmark posted total sales of EUR 5.5 million and had a market share of 66 percent. Artmark’s four main auctions held every season in 2011 brought total sales between EUR 1 million and EUR 1.6 million each . The 2011 winter auction posted the highest sales in Romania – over EUR 1.6 million. The painting ‘In Iatac’ (in picture) by Nicolae Tonitza was the most expensive painting sold, at a a EUR 290,000 price tag, followed by the painting ‘Tarancuta odihnindu-se’ (Little peasant girl resting) by Nicolae Grigorescu, sold for EUR 270,000. Other works of Nicoale Grigorescu were sold for over EUR 200,000 in 2011, namely ‘Carciuma la Rucar’ (Pub in Rucar) sold for EUR 230,000 on March 23, and the Romanian painter’s ‘La Marginea Padurii’ (At the edge of the forest) at EUR 200,000. Artmark’s auctions this year have sold over 2,000 objets d'art. Paintings remain the favorite purchase for buyers. Irina Popescu, irina.popescu@romania-insider.com (photo source: Wikipedia)