MILAN.- The Modern & Contemporary Part I Milan Sale brought a total of € 7.713.375, well above the pre-sale high estimate, and was 80.4 % sold by lot and 92.2 % sold by value.
It is the best result for
Sotheby’s Milan since November 2008, with only 56 lots presented in Part I.
Commenting on results, Raphaelle Blanga, Head of Modern and Contemporary Art Department, Sotheby’s Italy, said: “A crowded saleroom fiercely competed with the bidding desk throughout all the Part I sale. This is a strong and positive signal from the Italian art market. Moreover, I would like to underline that 67% of works sold well above the high estimates”.
Palo Alto by Mario Schifano, a museum-quality 1960 monochrome, set the world auction record for the artist ( 421.500 EUR), duplicating its high estimate.
All the works by Castellani at auction – dated from 1963 to 1985 – sold above their high estimates, up to 900.000 EUR, and took up 5 positions in the top ten list.
The magnificent 1965 white Concetto Spaziale by Lucio Fontana, sold at 793.500 EUR (est. 300/400.000 EUR) as well as Portorose by Afro (1963) and the 1952 Senza Titolo by Alberto Burri, coming from an American private collection.
A brillian result for SI+NO by Mario Ceroli set the auction record for the artist. The historical work, dated 1964, was formerly exhibited at the famous Roman Gallery La Tartaruga in the same year and later in Frankfurt and Rome (Palazzo delle Esposizioni). With an estimate of 50/60.000 EUR, SI+NO sculpture realised 87.900 EUR. Grigio, a 1984 oeuvre by Agostino Bonalumi, set the auction record for a work from 1980s, fetching 133.500 EUR.
Following the world record set in London in October for Dadamaino (125.171 EUR), brilliant prices were registered for both lots 17 and 18, which sold for more than 100.000 EUR, from 25/35.000 EUR.
Ceramics by Lucio Fontana are always attracting the attention of the best cultivated collectors, who chose a beautiful 1936 Cavallo (sold at 163.500 EUR) and a magnificent 1948 Camino (fireplace) which duplicated its high estimate and sold for 211.500 EUR.
