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Article: Russian government to buy famous "Black Square" for dlrs 1 million
- Article from:
- AP Worldstream
- Article date:
- April 26, 2002
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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Dateline: MOSCOW
The Russian government said Friday it will buy a famous painting of
a plain black square by avant-garde artist Kasimir Malevich for dlrs
1 million, ending weeks of speculation about the painting's fate.
Creditors for a bankrupt Russian bank, Inkombank, had intended to
sell the painting at auction, but at the last minute, Russia's Culture
Ministry declared it a state cultural monument and ordered it removed
from the auction list.
After two weeks of negotiations, the creditors agreed to sell the
work to the state for dlrs 1 million. Russian tycoon Vladimir Potanin,
head of the Interros industrial group, will donate the money to the
government to help it ...