Estonian artists donate 124 works for emergency auction after fraud

The Estonian Artists' Association (EKL) will hold an emergency art auction to partially cover financial losses following a fraudulent scheme. Artists have donated 124 new works for sale, and part of the association's own collection will also be offered at the auction.

As ERR News reports, the lots were selected by an expert commission comprising art historians, critics and art market specialists. The selection took into account the situation on the art market and the need to preserve the integrity of the EKL collection, which reflects the diversity of Estonian artistic life.

Part of the collection will be preserved

EKL Vice President Tyyne-Kristin Vaikla said that the association will not sell its entire collection. According to her, the fund will retain at least one valuable work by each author, as well as several works by many artists. Works connected to the artists themselves and artistic life are to remain untouched.

Vaikla also said that sales contracts will include a provision allowing the sold works to be exhibited at future exhibitions. Participation in the auction will be available both in person at the ARS Art City art center and online.

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Support for artists and terms of sale

Artist Jaanus Samma, who coordinated the submission of works, noted that the donations demonstrate the solidarity of the artistic community. The lots will include works by Jüri Arrak, Enn Põldroos, Tiit Pääsuke, Leonhard Lapin, Jüri Kask, Olev Subbi and Mari Kurismaa.

Authors of works sold from the association's collection will receive 5% of the proceeds. Artists who donated new works for the auction will receive 15% of the sale amount. EKL will publish the full list of lots and starting prices after preparing descriptions and digital materials about the works.

Losses after the fraudulent scheme

The auction will take place on October 8–10 at ARS Art City, while an exhibition of the works will open there on September 18. EKL reported that on May 15 it discovered a transfer of nearly €700,000 from its bank accounts as a result of a fraudulent scheme. According to the association, unidentified individuals gained access to the accounts and transferred the funds abroad, disguising the payments as salary payments. The EKL council approved the board's proposal to obtain a loan, hold an emergency auction and sell real estate.