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| Triptych: Tiberias By Nahum Gutman, sold for $149,500 at Tiroche |
Thursday, 15 March 2012
Israeli Art Market on the Rise
Posted on 05:25 by the great khali
MUTUAL ART
ISRAEL - The Israeli art market is on the rise, attracting international attention. The turnover in the last decade topped $180 million, reaching an all-time high of $36 million in 2007 before the global financial crisis. Israeli auction house Tiroche recently held a two-part Israeli and International Art sale on January 28th and February 4th to great success. Part A saw a 88% sell through rate, and of the 315 lots sold, 199 exceeded their high estimates. The realized prices were also optimistic, with the top three lots all going to Nahum Gutman for $178,250, $149,500 (pictured above), and $126,500. [link]
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