During Riga Art Week, the first Young Art Auction took place in the Kimmel quarter of Latvia, featuring 50 artworks by 26 artists under 40. The auction, held on June 3, was curated by Raivis Alksnis and inspired by a similar tradition in Estonia, where the event has been held ten times. Starting prices were set by the artists themselves, and the highest-selling work, a painting by Ella Mežule, fetched €3,000. The initiative is supported by developer Invego and aims to boost the local art market.
This auction matters because it addresses the near absence of a commercial art market in Latvia, providing a rare platform for young artists to gain visibility and for collectors to acquire affordable, high-quality works. By borrowing a proven model from Estonia, the event seeks to stimulate patronage and collecting culture in Latvia, fostering a more sustainable ecosystem for emerging talent. The planned fall edition signals a potential shift toward regular market activity in a region where the art scene is rich but commercially underdeveloped.