In a particularly volatile period, where investors are daily seeking the safest and most long-term investment, the art market is considered the ideal choice.
In the Greek art market, after serious corrections and imbalances over many years, there still appears to be “light,” a fact confirmed by the attractive options appearing in the upcoming auction by Vergos Auctions, which will take place on December 3rd at the Zappeion Hall.
Read: The big move in the art market: Greek bank sets up Private Banking for ultra-wealthy investors (Image)
The majority of the works represent good investment opportunities for both buyers with large capital and those operating in the medium and low categories.
At the high levels of estimates, one of the best examples is Chryssa’s (Vardea) work “Advertisements.” It is oil on canvas (129.5×88.5 cm) dated 1986 and is considered a rare and good example of Chryssa’s technique. It is signed bottom right as “Chryssa,” and the work’s provenance includes the Mihalarias Art gallery – inextricably linked with Chryssa’s works – where it was exhibited in the ’90s. The estimated price ranges between €60,000 and €80,000.
Art market: The best “mid-cap” investment options
In the medium category, one of the top choices is Yannis Moralis’ painting “Erotic,” signed and dated bottom right as “I.Moralis/2000.” It is acrylic on wood with dimensions 33×24 cm and features a special dedication by the artist on the reverse.
Although its dimensions are small, it is considered one of Moralis’ most representative samples, with particular commercial and resale value. The initial estimated price is €20,000 and it wouldn’t be surprising if its final value closes at double that amount.
Similarly, an excellent choice is Konstantinos Volanakis’ painting “Harbor” (oil on canvas, 40×74 cm) with the significant provenance of the Emfietzoglou Collection. The estimated price ranges between €30,000 and €40,000.
As a third good choice comes the untitled work by Takis – a name that is currently in the spotlight due to the 100 years since the birth of the legendary visual artist. The work has dimensions 120×100 cm and signature bottom right, with the estimate ranging from €20,000 to €30,000.
Huge interest in “small cap” works up to €6,000
Great collecting and investment interest is presented by Christos Karras’ untitled painting (mixed media, 191×135 cm) signed and dated center right as “Karras 82,” which has been estimated between €4,000 and €6,000. If acquired at these prices, it will be one of the best purchases of the upcoming auction.
Equally interesting are the works by Kostas Grammatopoulos and Giorgos Sikeliotis “Mykonos” and “Hydra” with estimated prices of €3,000-4,000 and €4,000-6,000, respectively.
Finally, bidding wars are expected for Niki Karagatsi’s work “The Box with the Threads” (oil on canvas, 35×45 cm) with which the artist had participated in an exhibition at the National Gallery Alexandros Soutsos Museum in 1988. The initial estimated price is €2,000.
