ARMA auctioned off the first 16 paintings from the Medvedchuk collection.

The Asset Recovery and Management Agency has sold the first 16 paintings from the confiscated collection of Viktor Medvedchuk.

This is reported by the press service of ARMA.

The agency received 317,000 UAH from the sale of the first part of the painting collection, with the most expensive lot being the painting "Rural Landscape with a River Against the Mountains" – it was auctioned off for 76,000 UAH.

The agency promises to allocate all income received "to the economy and the purchase of military bonds." The total collection of Medvedchuk consisted of 285 paintings. Almost 150 of them were recognized as cultural heritage of Ukraine, while the remaining 136 paintings were decided to be auctioned. Their total value is estimated at 4 million UAH.

According to an independent assessment, the most expensive painting in the collection is valued at approximately 390,000 UAH. This refers to the canvas "Composition with Boats" by an unknown author. ARMA announces that auctions for the next part of the collection – 19 paintings – will take place on November 14.

Background. Earlier, Mind reported that ARMA sold all of Medvedchuk's watches at auctions. The last piece fetched 285,000 UAH, while all lots together brought in over 7 million UAH.