Cuba art auction falls short of expectationsNovember 13th, 2009 - 3:50 pm ICT by IANS
Havana, Nov 13 (EFE) An auction of 69 lots of Cuban plastic and decorative art raised some 400,000 euros (about $600,000), less than half the expected total, organisers said here.
Wednesday’s auction of works by acclaimed painters such as Mariano Rodriguez, Rene Portocarrero, Servando Cabrera Moreno and Roberto Fabelo had been expected to bring in 1 million euros ($1.5 million).
The painting that brought the highest price was “Television aerials” by Mario Carreno (1913-99), which was initially valued at 70,000 euros ($105,000) but ended up being sold for 55,000 euros ($82,000).
All of the works up for sale belonged to private collections, with the exception of one presented by Cuba’s La Acacia state gallery, the director of the auction, Luis Miret, told EFE.
Despite the gap between the expected and actual proceeds, this year’s result was “very positive and acceptable” with 51 percent of the works sold, compared with 38 percent in the previous edition of the auction, Miret said.
- Spanish debt auction attracts strong demand - Jan 13, 2012
- Ex-Austrian emperor's underwear sold for over $8,000 - May 10, 2012
- Heavy rains, flooding batter Mexico - Oct 14, 2011
- Spanish royals cut their own pay - Jul 18, 2012
- Puerto Rican band to kick off European tour in June - May 24, 2011
- Spain's borrowing costs rise sharply in bond auction - May 18, 2012
- Spain sells 3.2 bn euros in bonds at higher rates - Apr 18, 2012
- US job creation stalls - Sep 03, 2011
- 100-year-old painting sold for $2.18 mn - Jul 07, 2010
- Spain's risk premium hits euro-era record - Jul 20, 2012
- Spain pays sharply lower yield on 10-year bonds - Jan 20, 2012
- Spanish government takes controlling stake in ailing bank - May 10, 2012
- Unknown Tagore notebook to go under hammer in New York - Dec 07, 2011
- Tintin cover fetches record price - Jun 03, 2012
- Reggaeton duo film documentary in Cuba - Jan 31, 2012
Tags: 1 million, 5 million, acacia, art auction, cuba, decorative art, gap, havana, mariano rodriguez, mario carreno, organisers, painters, painting, private collections, proceeds, rene portocarrero, roberto fabelo, servando cabrera, television aerials