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Capitolium Art - Modern & Contemporary Auction Analysis

  • Capitolium art Casa D'aste Brescia
  • Capitolium art Casa D'aste Brescia
  • Capitolium art Casa D'aste Brescia
  • Capitolium art Casa D'aste Brescia
July 23, 2015

According to Artnet’s report on the first half of 2015, the art market is in decline everywhere in the world, apart from the United States, or New York, to be more precise. This info may explain somewhat poor sales that had been held all across Europe lately – it’s no surprise that continuing Europe’s economic woes are affecting the art market as well. So, if we, in this key, look at the result of Modern & Contemporary auction that took place at Capitolium Art auction house in Brescia, Italy on July 21 – we could say that it was a slightly below average auction, with about one-third of lots that remained unsold. However, if we consider the total amount of money that sold lots have gathered – and, ultimatelly, that’s the only thing that counts – well, this “below average” auction turns into a unsuccessful one, as it failed to match even the sum of low estimates for sold lots.

  • Capitolium art Casa D'aste Brescia

Two Turi Simeti's Works Among The Least Unsuccessful Ones

Almost every lot at Modern & Contemporary sale at Capitolium Art that was estimated at a five-figure price prior to the auction (and those were the most expensive lots), failed to sell at least for low estimate, and more than a few of them remained unsold. Carlo Carra’s Vele nel porto (1942) had the highest hammer price of the auction ($49,096), and was one of the few priciest lots that managed to stay in range of estimated values. However, this cannot be said for the next three highest hammer prices – Giacomo Manzu’s Cardinale seduto (variante di due) was sold for $14,000 below its low estimate, while two Turi Simeti’s works (Quattro ovali rosso and Otto ovali gialli) fell $3,000 and $5,000 respectively.

Speaking of several lots that actually had their hammer prices above high estimate, the two most successful ones were Arturo Martini’s Pastore o San Giovannino, that had +140 percent difference between hammer price and high estimate, and Oswaldo Subero’s Pintura bidimensionale n, 309, that had +126.6 percent. On the opposite end, among the vast majority of lots that were sold under low estimate, the two worst ones were Horacio Garcia Rossi’s Lumière, that had -60.1 percent difference between hammer price and low estimate, and Franco Angeli’s Impatto had -51.7 percent.

Capitolium art Casa D'aste Brescia
Manzu’ Giacomo – Cardinale Seduto (Variante di due), 1974 (Lot 138). Estimated at $43,641 – $54.552, sold for $29,458 – the second highest hammer price of the auction.
Capitolium art Casa D'aste Brescia
Left: Turi Simeti – Otto Ovali Gialli, 2006 (Lot 55). Estimated at $32,731 – $43,641, sold for $28,367. / Right: Roberto Gaetano Crippa – Spazio, 1952 (Lot 29). Estimated at $10,910 – $16,365, sold for $6,983.
Capitolium art Casa D'aste Brescia
Cy Twombly – Roman notes, 1971 (Lot 40). Estimated at $8,728 – $13,092, sold for $12,001.
Capitolium art Casa D'aste Brescia
Carlo Carra’ – Vele Nel Porto, 1968 (Lot 18). Estimated at $43,641 – $65,462, sold for $49,096 – the highest hammer price of the auction.
Capitolium art Casa D'aste Brescia
Wilfredo Lam – Femme Cheval, 1958 (Lot 20). Estimated at $27,276 – $38,186, sold for $19,639.
Capitolium art Casa D'aste Brescia
Turi Simeti – Quattro Ovali Rosso, 2002 (Lot 54). Estimated at $27,276 – $38,186, sold for $24,003.
  • Capitolium art Casa D'aste Brescia

More Than Half of Sold Lots Went for Under Low Estimate

Out of 135 lots that were auctioned at Capitolium art, 91 were sold (67.4 percent), for a total of $479,642. That was below estimated $507,224 – $702,181 for sold lots, and way below the estimated value of the whole auction ($721,176 – $1,003,085). Only 11 lots were sold over high estimate (12.1 percent), while 50 lots, or 54.9 percent were sold under low estimate. The average hammer price was $5,271.

Total number of lots:135
Number of sold lots:91
Sold lots [%]:67.4
Total [$]:479.642
Number of sold lots over high estimate:11
Over high estimate (Total) [%]:8.1
Over high estimate (Sold) [%]:12.1
Number of sold lots in range of estimated values:30
In range of estimated values (Sold) [%]:33
Number of sold lots under low estimate:50
Under low estimate (Sold) [%]:54.9
Results were under estimate spread of [%]:28.1
Max Hammer [$]:49.096
Average Hammer [$]:5.271
Median Hammer [$]:2.946
Median Hammer Average Hammer Difference [%]:-44.1
Lot No.Artist NameArtwork NameLow Estimate $High Estimate $Hammer Price $Hammer High Estimate Difference [%]Hammer Low Estimate Difference [%]
1Giuseppe VivianiCani sulla spiaggia, 19488731.3091.200-8.337.5
2Filippo De PisisStatua di santo (San Paolo), 19228731.309Not SoldNot SoldNot Sold
3Arturo MartiniPastore o San Giovannino, 19791.0911.6373.928140260
4Hans RichterW les dadaist, 19611.0911.6371.091-33.40
5Guglielmo Achille CavelliniFotografie e impronte di Cavellini8731.309Not SoldNot SoldNot Sold
6Joan MiroSenza titolo546764Not SoldNot SoldNot Sold
7Michele CascellaTaxco, 19663.2734.364Not SoldNot SoldNot Sold
8Bruno SaettiRiccardo con la corazza, 194015.27417.456Not SoldNot SoldNot Sold
9Umberto LilloniL'uomo rustico, 19266.5468.728Not SoldNot SoldNot Sold
10Umberto LilloniPaesaggio Ticinese, 19663.2734.3642.946-32.5-10
11Pietro AnnigoniRitratto1.6372.1822.6182059.9
12Franco RognoniLettera d'amore, 19691.6372.1821.527-30-6.7
13Trento LongarettiInverno2.7283.273Not SoldNot SoldNot Sold
14Pippo OrianiNatura morta, 19305.4557.637Not SoldNot SoldNot Sold
15Pippo OrianiArlecchino suonatore2.7283.819Not SoldNot SoldNot Sold
16Xavier BuenoMaternità6.5468.72812.54743.891.7
17Antonio BuenoMarinaretto5.4557.6377.419-2.936
18Carlo CarraVele nel porto, 194243.64165.46249.096-2512.5
19Mario SironiMontagne10.91013.0928.946-31.7-18
20Wilfredo LamFemme Cheval, 195827.27638.18619.639-48.6-28
21Wilfredo LamL'oiseau de Fer (due sculture), 19704.3646.5465.673-13.330
22Zlatko PricaGiorno di festa, 19584.3646.5468.07423.385
23Zlatko PricaVenditore di frutti, 19594.3646.5466.328-3.345
24Ralph RumneyLabyrinth, 19666.5468.7287.637-12.516.7
25Antonio StagnoliCavallo1.6372.1821.091-50-33.4
26Antonio StagnoliPaesaggio1.6372.1821.091-50-33.4
27Roberto Gaetano CrippaSenza titolo1.6372.1821.637-250
28Roberto Gaetano CrippaTotem, 195710.91016.36510.037-38.7-8
29Roberto Gaetano CrippaSpazio, 195210.91016.3656.983-57.3-36
30Roberto Gaetano CrippaTotem, 19568.72813.0925.455-58.3-37.5
31Gianni DovaSenza titolo, 195410.91016.3659.819-40-10
32Riccardo LicataOlio su tela2.7283.819Not SoldNot SoldNot Sold
33Riccardo LicataOlio su tela5.4557.6375.237-31.4-4
34Salvatore EmblemaSenza titolo, 196910.91016.36510.910-33.30
35Salvatore EmblemaDue figure, 19605.4557.6374.691-38.6-14
36Toti ScialojaSenza titolo, 19681.0911.6372.18233.3100
37Ideo PantaleoniSenza titolo, 19552.1822.728Not SoldNot SoldNot Sold
38Umberto MastroianniSenza titolo, 19712.7283.819Not SoldNot SoldNot Sold
39Pietro ConsagraSenza titolo1.0911.637Not SoldNot SoldNot Sold
40Cy TwomblyRoman notes, 19718.72813.09212.001-8.337.5
41Carmelo CappelloSenza titolo, 19731.6372.182Not SoldNot SoldNot Sold
42Piero DorazioSenza titolo, 196010.91015.274Not SoldNot SoldNot Sold
43Piero DorazioSenza titolo, 19803.2734.3643.273-250
44Carla AccardiTECNICA MISTA SU CARTA1.0911.309Not SoldNot SoldNot Sold
45Hans HoffmannSchwelend, , 19771.0911.637Not SoldNot SoldNot Sold
46Emilio ScanavinoPresenza passive e attive, 19657.6379.8197.201-26.7-5.7
47Giuseppe UnciniSenza titolo, 20068731.309873-33.30
48Giuseppe UnciniProgetto per muro cemento, 20021.6372.1821.637-250
49Agostino BonalumiProgetto, 20018731.309818-37.5-6.3
50Agostino BonalumiSenza titolo1.6372.1821.637-250
51Mario NigroBlocco, 19594.3645.4553.710-32-15
53Agostino BonalumiSenza titolo8731.309480-63.3-45
54Turi SimetiQuattro ovali rosso27.27638.18624.003-37.1-12
55Turi SimetiOtto ovali gialli, 200632.73143.64128.367-35-13.3
56Giuseppe AmadioLa ricerca dell'Io, Barino, 19828731.309546-58.3-37.5
57Giuseppe AmadioIn pieno vigore, 20143.2734.3646.76455106.7
58Giuseppe AmadioAbigo4.3646.5463.928-40-10
59Bernard AubertinTableau Clous, 19704.3646.5464.146-36.7-5
60Bernard AubertinTableau Clous, 196913.09217.456Not SoldNot SoldNot Sold
61Bernard AubertinTableau Clous, 198510.91013.0928.619-34.2-21
62Gianfranco PardiSenza titolo10.91016.365Not SoldNot SoldNot Sold
63Gianfranco PardiArchitettura, 197610.91016.36511.456-305
64Walter ValentinLa porta del tempo, 19904.3646.5462.837-56.7-35
65Gianfranco ZappettiniSenza titolo, 19645.4557.637Not SoldNot SoldNot Sold
66Arturo VermiPaesaggio4.3646.5463.928-40-10
67Agostino FerrariMedioevo, 19648731.309Not SoldNot SoldNot Sold
68DadamainoSenza titolo8731.309982-2512.5
69DadamainoMappa cromatica655873600-31.3-8.4
70Jesus Rafael SotoPermutation2.7283.8192.946-22.98
71Alberto BiasiCinque serigrafie cinetiche di Alberto Biasi, 19703.2734.3642.291-47.5-30
72Alberto BiasiSenza titolo, 19738731.309873-33.30
73Julio Le ParcLotto composto da n.2 litografie assemblabili1.6372.1821.091-50-33.4
74Horacio Garcia RossiLumière, 1989546873218-75-60.1
75Jorrit TornquistSquilibrio blu con riflesso, 20144.3646.546Not SoldNot SoldNot Sold
76Eduardo JonquieresHommage aux amish, Composizione XXVIII/85, 19851.0911.637982-40-10
77Franco GrignaniSenza titolo, 19795.4557.6377.201-5.732
78Edoer AgostiniViolenza percettiva-AZC, 19772.7283.2732.618-20-4
79Carlo NangeroniSenza titolo, 20022.1823.273Not SoldNot SoldNot Sold
80Carlo NangeroniSenza titolo, 19901.0911.637Not SoldNot SoldNot Sold
81Sara CampesanSenza titolo, 19858731.309Not SoldNot SoldNot Sold
82Sara CampesanScomposizione circolare, 19811.0911.6371.85513.370
83Franco CostalongaSenza titolo, 19713.2734.3643.164-27.5-3.3
84Oswaldo SuberoPintura bidimensionale n, 309, 19871.0911.6373.710126.6240.1
85Hugo DemarcoSenza titolo, 19852.1823.2731.746-46.7-20
86Victor VasarelyPara vista, 19664.3646.5463.819-41.7-12.5
87Guido BaldessariStruttura Vibrante, 19768731.309Not SoldNot SoldNot Sold
88Guido BaldessariVibrazione verticale, 19758731.309927-29.26.2
89Giovanni Dell'AcquaStudio per nuove soluzioni, 20148731.309655-50-25
90Giovanni Dell'AcquaDilemma8731.309655-50-25
91Giorgio GriffaPolluzione, 199721.82132.731Not SoldNot SoldNot Sold
92Pino PinelliPittura, 19908731.3091.091-16.725
93Fernando BoteroSenza titolo, 200810.91013.0927.637-41.7-30
94Fernandez ArmanInclusione di bambole1.0911.6371.527-6.740
95Fernandez ArmanTavolo, 199910.91016.365Not SoldNot SoldNot Sold
96Raymond HainesSenza titolo, 19768.72813.09210.474-2020
97Franco AngeliSenza titolo16.36521.821Not SoldNot SoldNot Sold
98Franco AngeliImpatto6.5468.7283.164-63.7-51.7
99Franco AngeliSenza titolo6.5468.728Not SoldNot SoldNot Sold
100Franco AngeliFrammenti6.5468.7283.382-61.3-48.3
103Franco AngeliSenza titolo1.6372.182Not SoldNot SoldNot Sold
104Ugo NespoloSuprematissimo1.6372.1822.073-526.6
105Sandro ChiaCanguro e pugile, 19752.7283.8191.964-48.6-28
106Sandro ChiaSenza titolo8731.3091.52716.774.9
107Sandro ChiaSenza titolo8731.309655-50-25
108Sandro ChiaRagazzo con cane, 19943.8194.9103.164-35.6-17.2
109Mimmo GermanaSenza titolo, 19912.7283.819Not SoldNot SoldNot Sold
110Marcello ScuffiPaesaggio2.1823.273Not SoldNot SoldNot Sold
111Maria LaiAutobiografia 24, 19796.5468.7286.110-30-6.7
112Maria LaiSenza titolo, 19795.4557.6373.055-60-44
113Alighiero BoettiDivine astrazioni, 199024.00328.36719.639-30.8-18.2
114Jannis KounellisSenza titolo, 19998.72813.092Not SoldNot SoldNot Sold
115Gilberto ZorioCagna e crogiuolo + alambicco, 198113.09219.639Not SoldNot SoldNot Sold
116Emilio IsgroLe rose, 20143.2734.364Not SoldNot SoldNot Sold
117Emilio IsgroVerso Maracaibo, 20002.1823.273Not SoldNot SoldNot Sold
118Emilio IsgroTorino - Trento, 19973.2734.3642.400-45-26.7
119Renata BoeroSenza titolo3.2734.364Not SoldNot SoldNot Sold
120Paolo CotaniSenza titolo, 19901.0911.6371.85513.370
121Giuseppe MaranielloRicordo di un sogno lontano, 19658731.309Not SoldNot SoldNot Sold
122Luciano BartoliniFrammento irrisolto, 19834.3646.5464.582-305
123Luigi MainolfiSenza titolo, 20024.3646.546Not SoldNot SoldNot Sold
124Roberto ArdovinoRicerca di volumi a tinte piatte, Raccattoplastic, 19958731.309982-2512.5
125Nunzio Di StefanoSenza titolo, 19903.2734.3643.819-12.516.7
126Marco BrandizziSenza titolo8731.309709-45.8-18.8
127Ivens MachadoSenza titolo1.0911.6371.091-33.40
128Luigi ColaniMotorcycle, 19738.72813.092Not SoldNot SoldNot Sold
129Angelo BrescianiniSenza titolo, 20131.0911.6372.61859.9140
130Omar RondaAudrey frozen, 20101.6372.728Not SoldNot SoldNot Sold
131Omar RondaMarilyn Frozen, 20141.0911.6371.200-26.710
132Tommaso CascellaUmori dall'eternità, 1997546873415-52.5-24
133Mark KostabiMysterious Dawn2.7283.8192.728-28.60
134Alfredo RapettiSuperficie n, 8, 20091.6372.7281.418-48-13.4
135Giorgia ZanusoRifrazione, 20148731.309546-58.3-37.5
136Silvio BalestraPotenziale dirompente, 20088731.309Not SoldNot SoldNot Sold
137Antonio NunzianteNatura Morta, 19873.2734.364Not SoldNot SoldNot Sold
138Giacomo ManzuCardinale seduto (variante di due), 197443.64154.55229.458-46-32.5
TOTAL (Sold lots):507.224702.181479.642-31.7-5.4

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All images courtesy of Capitolium art