Russian artist Kazmir Malevich’s “Suprematist Composition with Plane in Projection” painting went under the hammer in New York on May 17 - and fetched a pretty price, RIA Novosti reports (in Russian). The final sale price far exceeded its estimated value of $12 to $18 million and was the most expensive lot of the auction.
The auction also saw the sale of work by Max Ernst, Diego Giacommetti, Jean Arp, and Germaine Richier. The withdrawal of Egon Schiele’s “Danaë,” which was estimated at $30 to $40 million, was a big disappointment for collectors. The evening’s sales totaled $173.8 million.