Israeli painting sold for nearly NIS 1,000,000

The Phoenix Group sold two paintings from its private collection for approximately 1.5 million shekels in an auction at the famous Christie's in New York.

The artworks are "Olive Trees in the Galilee" by Reuven Rubin, which sold for $226,800, and "View of the Western Wall" by Mordechai Ardon, which sold for $176,400. The two pieces were sold for a combined total of approximately NIS 1,492,000.

These two artworks were showcased outside of Israel for the first time in an exhibition organized by Phoenix at Christie's New York this past March. This exhibition featured 70 other significant works from the Phoenix Group's collection to mark the company's 75th anniversary.

Two of the showcased works, by Rubin and Ardon, were auctioned at Christie's New York sale.

Phoenix Group CEO, Eyal Ben Simon, stated, "Our art collection represents the pride we take in the history, culture, and creativity of our nation. This exhibition of a hundred years of Israeli art is an opportunity to share with the world pieces we cherish at one of its central hubs, New York. We are pleased that the works sold successfully on the international market, and the proceeds will help fund and provide ongoing support for young Israeli art."

The Phoenix Group's Israeli art collection consists of approximately 1,400 works and is considered one of the best and most comprehensive in its field. It was established in the early 1980s by Joseph Hackmey, the owner and CEO of Phoenix Group until 2002. The collection presents the peaks and significant changes in Israeli art from its inception to the present day. It includes a large number of key works by many of Israel's leading 20th-century artists, allowing for an overview of their career development. Significant portions of the collection were exhibited at the Tel Aviv Museum of Art (1998) and the Ashdod Museum of Art (2006). Since then, the collection has not been shown in its entirety, but individual works have been loaned to various venues, including the permanent exhibition of Israeli art at the Israel Museum in Jerusalem.