A $62K Kandinsky Castoff Could Bring $80M at Christie's
By @sharedot · · 6 pages
- Art
- Auctions
- Kandinsky
- Christies
- Guggenheim
The Guggenheim's 1964 space-cleared Kandinsky, Betonte Ecken, carries a $60–80 million estimate with a guaranteed bid already past his auction record.
What happened: a storage-cleared Kandinsky heads to auction
Christie's will offer Vasily Kandinsky's *Betonte Ecken* (Accented Corners) this month with an estimate of $60 million to $80 million, according to Asharq Al-Awsat via ua.news and The Asia Business Daily, both citing CNN.
The square canvas, about 130 centimeters per side, was painted between December 1922 and January 1923, shortly after Kandinsky began teaching art theory at the Bauhaus, with geometric circles, triangles and lines in vivid, music-inspired abstraction.
Christie's says a guarantor has already offered an amount exceeding the artist's record.
The 1964 sale: lack of space, not taste
The surprise is provenance: the Solomon R. Guggenheim Foundation itself sold the painting at a London auction in 1964 for £22,000 — roughly $62,000, or about $540,000 in today's money, a fraction of the new estimate.
Per The Asia Business Daily, the foundation put 50 of its 170 Kandinsky works up for sale because its Manhattan museum lacked the space to display them, and Harry Guggenheim worried the paintings would sit unseen in storage. The 50 works fetched £536,580 total, about $1.5 million at the time.
The stakes: a record within reach
The guaranteed bid already exceeds Kandinsky's auction record of £37.2 million — $44.55 million — paid in 2023 for *Murnau mit Kirche II*, ua.news reports. If the estimate holds, the price would represent a roughly 1,300-fold rise from the 1964 winning bid, as The Asia Business Daily frames it.
Max Carter, Christie's global head of 20th and 21st century art, called the Guggenheim collection extraordinarily rich and said the foundation would not consider selling such works today, noting the painting has moved from innovative to canonical.
Why it matters beyond one canvas
Many of the 1964 group have reappeared at far higher prices since, making the deaccession a case study in how institutions once shed what later became cornerstones of an artist's market, as the cited reports note.
It also echoes this week's other headline lot: Fair Warning's November 19 sale of a Yoshitomo Nara post-earthquake painting estimated at $10–15 million.