STAMFORD, Conn. – A nonconformist Russian painting by Vasily Yakovlevich Sitnikov (1915-1987) sold for $496,900 at the inaugural art sale of Gene Shapiro Auctions held on Oct. 20. Estimated at $40,000-$60,000, the painting sold to an Internet bidder via LiveAuctioneers.com. The price includes a buyer’s premium of 22.5 percent on the first $100,000, and 17 percent thereafter.
The oil-on-canvas painting measured 29 1/2 inch by 55 1/8 inch depicted a snowflake-covered town bustling with people. Artist-signed and dated USSR 1975, the painting not only set a new record for Sitnikov, but also established the highest price ever paid for a work of fine art on LiveAuctioneers.com.