The emergence of the market for Russian Modernist Art is a fascinating narrative, symmetrical as it is to the dramatic collapse of the Iron Curtain. The on-going plot is even more intriguing because of the historical ironies involved and the fast paced tempo in which the story continues to evolve. The cast of characters includes passionate artists, compelled to express their inner visions, art lovers, art dealers and art experts, both historians and critics.

Prior to the Bolshevik Revolution in 1917, Russian art collectors were among the most prominent and prolific in the world, on occasion snapping up whole collections. The Soviet Era put an end to that practice. Ironically, 100 years later, art collectors from Russia and the United States are spending millions acquiring Russian art, some of the finest in the world. In fact, an auction of Russian art at Sotheby's in New York (April 2005) brought in $35,167, 720, setting a world record at five times the estimated value. In the past three years, each successive auction at Sotheby's and Christie has resulted in increased revenues. As a result, art experts believe Russian art will continue to grow in popularity. Recent history and economic forecasts justify their optimism.

More billionaires reside in Russia than anywhere else on the planet, according to Forbes Magazine. While that irony might depress a Karl Marx, the economic factors necessary for enormous capital formation over such a short period of time are clearly evident. Russia is rich in natural resources, especially oil. The increase in the value of art is directly linked to the rise in the price of crude, according to Stern in the News, a publication of New York University's Leonard N. Stern's School of Business.

In the 20 th Century the most famous Russian painters - Chagall, Kandinsky and Malevich, for example, were first recognized outside of Russia. Once these artists became famous, they were embraced in their homeland where the wealthiest collectors vied for their works. The recent discovery of quality Russian art of the Soviet era has followed the trend. Initially dismissed by post-Soviet intellectuals as little more than propaganda, the fine art produced during the Soviet Era has now been recognized by international art critics and collectors for its inherent aesthetics and value.

Pioneer art scholar Kenneth Pushkin, understood the opportunity when he first visited Russia, the land of his ancestors, in the early 90's. With his network of Russian art historians, he scoured the cities and the countryside to find the works of these lost masters. This ongoing process is not an easy one, but the results justify the effort. When Kenneth discovers a rare painting or collection and brings it back to the Pushkin Gallery, another chapter is added to one of the most exhilarating dramas in art history, a story that is far from over.