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    Sotheby's 20th Century Art Sale Triumphs, Realising 13,583,725 Pounds

    Date: 22 Oct 2008 | | Views: 3213

    Source: ArtDaily

    LONDON - Sotheby’s annual October Sale of 20th Century Italian Art realised the second highest sale total ever of £13,583,725 for a sale in this category at Sotheby’s London. The results were within the estimate of £11,877,000-16,504,000 and the auction, which was very wellattended and concluded this afternoon to an extended round of applause, was 88.5% sold by lot and 94.2% sold by value. Four new artist records were also established, including those for Pietro Consagra, Giuseppe Capogrossi, Michelangelo Pistoletto and Arnaldo Pomodoro.

    Commenting on today’s sale, Claudia Dwek, Chairman of Sotheby’s Italy, said: “We are extremely pleased with the success of today’s sale of 20th Century Italian Art, which shows the keen appetite for classic modern works. Italian Art is a niche market which has developed over the last 10 years and as we saw today many collectors are looking to grow their collections with works by the modern Italian masters. What Sotheby’s was able to offer was a well-edited, highly-curated sale, both in quality and as regards estimates, and the market clearly responded with enthusiasm.”

    Highlights:

    • The top selling lot in this afternoon’s sale was Lucio Fontana’s 1957 Concetto Spaziale, Forma, which Sold for £1,049,250 ($1,828,213) – within the estimate for the work of £800,000-1,200,000.

    • Other highlights in today’s sale include Lucio Fontana’s waterpaint on canvas Concetto Spaziale, Attese (sold for: £847,650), Giorgio de Chirico’s Interno Metafisico con Testa di Filosofo (sold for: £847,650) and Alberto Bruni’s 1956 Nero F (sold for: £780,450).

    • 41.3 % of the lots sold above their high estimate and 52.2% sold at or within estimate.

    Records Established:

    Lot 13
    Pietro Consagra
    Impronta Solare
    Sold for £97,250
    Previous record: £66,000

    Lot 19
    Lucio Fontana
    Concetto Spaziale, Forma
    Sold for £1,049,250
    Previous record: $1,832,000 / £925,192
    RECORD FOR A SCULPTURE BY THE ARTIST AT AUCTION

    Lot 26
    Giuseppe Capogrossi
    Superficie 388
    Sold for £169,250
    Previous record: ˆ220,700 / £112,225

    Lot 31
    Michelangelo Pistoletto
    Lui e Lei che Parlano
    Sold for £409,250
    Previous record: £345,300

    Lot 37
    Arnaldo Pomodoro
    Rotante Primo Sezionale no. 1
    Sold for £313,250
    Previous record: $505,000 / £244,754


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