Cooperative bank sells 200 artworks in Mikkeli

A cooperative bank in eastern Finland is selling around 200 artworks at a gallery in Mikkeli, with proceeds going to local carer support services, Yle reports.

The pieces, from the collection of Osuuspankki Suur-Savo, include works by notable Finnish artists such as Väinö Rouva, Elina Luukka, Eero Nelimarkka, and Paavo Pelvo. The exhibition features oil paintings, watercolours, prints, photographs, and sculptures.

Gallerist Ari Hänninen, who is organising the sale, said prices have been set well below market value to ensure sales. “Sometimes it’s embarrassing how low the prices have to be,” he admitted. “This is a buyer’s market.” He stressed, however, that the pricing aims to avoid devaluing the art while maintaining its artistic worth.

The sale runs until 15 July, with works sold as buyers appear. All revenue will be donated to recreational activities for family carers in the Pieksämäki, Savonlinna, and Mikkeli regions.

Teemu Mäki, chair of the Finnish Artists’ Association, noted that banks and insurance companies have long been reducing their art collections as physical office spaces shrink. He does not see this as a crisis for the art market, however, as corporate interest in acquiring art persists, and private demand for home displays is growing. Art loan schemes have also lowered the barrier to ownership, allowing people to try pieces before committing to a purchase.

Mäki described the sale as a natural part of the art market, where works change hands over time.