TALLINN - The Baltic art market hit a peak when a new record price was paid for an Estonian oil painting.
An anonymous buyer paid two million kroons (128,000 euros) for the painting "Capri" by Estonian impressionist Konrad Magi on Sept. 26.
For the same price, a savvy buyer could purchase a decent inner-city apartment in Tallinn.
The piece, a colorful landscape study of the Italian Isle of Capri, set the previous record when it changed hands several years ago for 1.6 million kroons.
Magi, who died in 1925, was known for his use of color, and his landscapes were once described by an critic as "friendly companions and comforters during dark winters."
The record price was reached during an auction at Haus Gallery. Read more about how art auctions have helped boost the Estonian art market in this week's Industry Insider (Pages 10-11).