The “M 44” painting by acclaimed Polish artist, the late Wojciech Fangor was sold at the “From Geometry to Illusion” online auction for a record of around PLN 1.3 mln (EUR 305,500).
The winning bid was remarkably higher than the pre-sale estimate of the artwork, which was around PLN 700,000-900,000.
A total turnover of the auction, which ended on Monday, amounted to PLN 2.5 mln (EUR 587,500), which is much more than any other auction of such kind.
In the past, online auctions used to be notorious for cheap and poor-quality works. This time, DESA Unicum decided to put quality over quantity and put up for online sale exclusively several works of recognised contemporary painters. The total value of the collection was given a pre-sale estimate of around PLN 3 mln (EUR 705,000). By a specially designed mobile app, people submitted their bids for selected artworks.
“I am sure that it is only the beginning of the online auctioning market in Poland. Soon, it may have a remarkable share of the market as a whole,” the chairman of DESA Unicum Juliusz Windorbski said.
Born in 1922, Wojciech Fangor was one of the greatest representatives of contemporary art. For nearly 40 years, he lived and created abroad, before his return to Poland in 1999. He died in 2015, aged 92. In late November 2018, Fangor’s “M 39” painting went down in history as Poland’s highest-purchased artwork, being sold for PLN 4.72 mln (EUR 1.1 mln).
The auction saw another personal record sale. A painting by Andrzej Nowacki was sold for over PLN 106,000 (EUR 25,000).
According to the report by the European Fine Art Foundation, in 2018, the value of the global online auctioning market amounted to USD 6 bn (EUR 5.27 bn), which is equal to an 11-percent growth compared to 2017. The share of the online auctioning in the art sale market constitutes nine percent.