ARTIST: Kasimir Malevich
TITLE: “Suprematist Composition” (1916)
AUCTION HOUSE: Sotheby’s
ESTIMATED PRICE: $60 million
Sotheby's officials predict that this painting will fetch $60 million. Determined to offset some of the risk, Sotheby's has lined up a buyer who has contractually agreed to purchase the painting for an undisclosed sum. If someone else is willing to pay more, the original bidder will get a share of what is called the upside: the difference between what he was willing to pay and the higher price.
I would rather buy the Philip Guston though.