KANDINSKY PAINTING UNSEEN FOR 70 YEARS SOLD FOR 1M EUROS

More than 70 years after it disappeared from the public eye, the painting "Gebogene Spitzen" (loosely translates as "Curved Tips") by Russian artist Wassily Kandinsky, has been sold at auction in Munich for much more than originally thought.

The painting was sold for 1.25 million euros ($1.48 million), the auction house Ketterer said. Experts had estimated the painting to be worth 300,000 euros.

The watercolor came from the estate of a private collection in Germany. With its strict geometric compositions, it is one of the artist's most sought-after works on paper, according to the auction house.

The watercolor is said to have already been on display during Kandinsky’s lifetime (1866-1944), in Berlin, Paris, and Stockholm, for example. The latest known exhibition was in 1932, the auction house said. Kandinsky is then believed to have given the work to an art dealer who sold it in 1949, according to the experts.

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