MOSCOW, RUSSIAN FEDERATION.- The Gelos Auction House in Moscow will auction the work ’Black Square’ by Kazimir Malevich, a long-lost work by this Russian painter. Oleg Stetsyura, economic adviser at the Gelos auction house, stated, ’The results of this auction will act as a reference point for the whole of the Russian antiques market. Everyone in the Russian art world will be paying attention to the price that the ’Black Square’ gets.’ The auction takes place after the bankruptcy of Inkombank. The work had been given as a loan collateral nine years ago. The bidding for the work will start at $1 million or $1.5 million. The State Hermitage Museum will carry out a final valuation on the work to define the starting price. Russian law prevents important works from leaving the country, so it will have to stay inside Russia.