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Record Price for Icelandic Art

Fivefold Eye, a sculpture by Ólafur Elíasson was sold at an auction at Christie’s in London last Sunday for ISK 80 million (USD 1.34 million). This is probably the highest price ever fetched for Icelandic art.

Before the auction, the price of the sculpture, which is made from steel and mirrors, was estimated at ISK 11-15 million (USD 180.000-250.000). The eventual price turned out to be at least six times higher than expected.

The price of Fivefold Eye is most likely the highest that has ever been paid for Icelandic art, according to Morgunbladid. Before Sunday’s auction a painting by Jóhannes Kjarval, entitled Pentecost was the most expensive piece of Icelandic art. It netted ISK 20 million (USD 330.000) at an auction earlier this year.

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