Kandinsky's painting sold in London for $41.7 million

Vasily Kandinsky’s painting “Colorful Life” sold at auction in London for 31.6 million pounds ($41.7 million). This was reported by the auction house Christie’s.

The estimated value of the lot was 18-25 million pounds. The canvas was painted in Paris in 1907 and refers to the early period of the artist’s work.

In 1927, the painting was bought by Dutch collector Emanuel Loewenstein. After the Nazi occupation, the family's property was confiscated, and the canvas was sold in 1940. In 1972, it was acquired by the Bavarian Land Bank, which transferred the work to the Lenbachhaus Gallery.

The heirs of Loewenstein for decades sought the return of the painting. In 2023, the restitution commission recommended that the work be returned to them, after which it was transferred to the descendants of the collector.

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