Art Market
In 2012, Christie's auctioned Kandinsky's Studie für Improvisation 8 (Study for Improvisation 8), a 1909 view of a man wielding a broadsword in a rainbow-hued village, for $23 million. The painting had been on loan to the Kunstmuseum Winterthur, Switzerland, since 1960 and was sold to a European collector by the Volkart Foundation, the charitable arm of the Swiss commodities trading firm Volkart Brothers. Before this sale, the artist's last record was set in 1990 when Sotheby's sold his Fugue (1914) for $20.9 million.
Read more about this topic: Wassily Kandinsky
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