NEW YORK CITY - Gene Shapiro Auctions LLC has announced an important auction of Russian, European, and Latin American art, to take place on November 5, 2008 in New York. The catalog for the auction has now been posted online at http://www.geneshapiro.com , and the printed full color catalog is available for purchase. The total estimate of the November auction is approximately $4,000,000 – 6,000,000, and the per-lot average is more than $20,000.

Gene Shapiro, President of the company, is confident that this sale will attract many buyers, “Due to the success of our last several auctions, we have been very fortunate to get numerous inquiries about consigning with us, especially from private collectors. This has allowed us access to many high quality works, which are fresh to the market. It has also allowed us to be more selective in our offerings."
Shapiro has also introduced some new works into his sale as well by including a Latin American segment, and several important European works as well. With the art market more global than ever, and buyers branching out from their own national artists, this seems to be a sign of the times.  As in previous Gene Shapiro auctions, this auction includes both older and newer Russian artists, ranging from early 19th Century to contemporary works of the past several years. Highlights abound across the chronological spectrum. In the antique section of the auction, a rare oil on canvas painting by the 19th Century artist Pavel Svedomsky is included at an estimate of $35,000 – 50,000.  Another highlight in this section is a portrait by Leon Bakst, measuring 105 x 129 cm, with expertise from the Tretyakov Museum in Moscow ($125,000 – 175,000).

Numerous works by Twentieth Century Russian masters including Korovin, Grigoriev, Altmann, Issupoff, and Tarkhov form a large portion of the sale. These are highly regarded and collected artists, and many of the works have significant provenance and literature/exhibition histories as well. Shapiro is especially proud to have a significant grouping of avant-garde Russian works in the auction. The two major pieces of this grouping are undoubtedly two works, both consigned by a private European collector, by Ivan Kliun and Alexander Rodchenko. Estimated at $200,000 – 300,000 and $250,000 – 350,000 respectively, avant-garde works of this quality rarely appear at auction.

An important segment of the contemporary works in the auction is devoted to works by “Sots Art” painters, and similar minded artists. These include numerous works by Komar & Melamid, Leonid Sokov, and Alexander Kosolapov. Lot 162 in the auction is a striking image, painted by Komar & Melamid, of their rendition of the ancient sculpture “Discobolus.” ($120,000 – 150,000). Indisputably one of the most important Komar & Melamid works to appear at auction, this work is a vibrant indicator of the extent to which Komar & Melamid combined classical training and conceptualism, and is a contemporary masterpiece.

European and Latin American works follow the Russian contemporary section, and they are not just minor additions to an already impressive Russian auction. Instead, they include significant works by highly collected artists. This auction, which takes place after Election Day in the United States, promises to offer a wide array of important artworks to an international clientele. When asked about the current state of the economy, and how he feels that it will affect the global art market, Shapiro responds, “I think that now, more than ever, is when collectors are looking for unique objects that will hold their value over time. The Russian economy is still thriving, and the buying back of an enormously sophisticated and prodigious artistic heritage will continue.”

The auction will take place on the fifth floor of the Metropolitan Pavilion, located at 123 West 18th Street in Manhattan. It will begin at 10:00 AM EST on November 5th, and there will be a full day of exhibition and preview for interested bidders at the same location from 12:00 PM to 9:00 PM on the 4th of November. The auction house can be contacted for more information at +1 (917) 330-1482 , or on its website at http://www.geneshapiro.com .