On November 19, the new showdown for the Greek art market will take place through the Paris branch of Bonhams auction house. The position for the star lot is currently contested by a painting by Yannis Tsarouchis, a blue chip signature in the art market with consistently rising prices over time.
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Yannis Tsarouchis’ “Policeman” awaits new high at Bonhams auction
Specifically, Yannis Tsarouchis’ painting featuring a military policeman (Policier militaire avec des feuilles de palmier et des drapeaux) is expected to climb to the top of the upcoming Greek Sale. It’s an oil on canvas measuring 190×70 cm, and comes from the collection of Alexandre Iolas, an element that increases demand. Its estimated prices range from €400,000 to €600,000. The major exhibition organized by the Yannis Tsarouchis Foundation in 2024, titled “I was and remained a researcher and a student,” has given a significant boost to the market for his works, while activity for his high-capitalization works has heated up in recent years.
In the Greek Sale held in spring, the work “Soldier dancing Zeibekiko” (Soldat dansant le zeibekiko) conquered the star lot position, recording a sale price of €381,400 (including the auction house’s commission). It’s oil on canvas (195.5×97 cm), dated between 1966 and 1968, and belonged to the same private collection for many years.
Will Yannis Tsarouchis’ “Policeman” break the €476,000 barrier?
In 2023, two very significant investments were recorded: The painting “Le café de Mavrokefalos” became the third most expensive work at the Bonhams Greek Sale auction in spring ’23, with its value reaching €327,975 (€260,000 hammer) within the range of initial estimates (€200,000-300,000).
However, the successful sale of the work “May” has played a catalytic role in today’s price formation. It appeared with a low estimate of €200,000 and managed to sell for an unprecedented hammer of €475,542 through Vergos Auctions in Athens. Not only was it the top work of the auction, but also the highest sale price worldwide for a work by Yannis Tsarouchis. The question, therefore, is whether on November 19, Tsarouchis’ “Military Policeman” with a low estimate of €400,000, will manage to break the €476,000 barrier, setting a new record in the Greek Art Market.
