Pandolfini - Modern and Cotemporary Art Auction Analysis

June 11, 2015

The auction of Modern and Cotemporary Art at Pandolfini auction house in Florence on June 9 finished with just over a $1 million sale (without buyer's premium), which was in the middle of estimated range for all sold lots. So, we could say that Pandolfini auction was a modestly successful one, with just under 70 percent of sold lots. The highest hammer price had Giorgio de Chirico's Cavalli In Riva Al Mare from 1934 with $169,373, and was followed by (Roberto) Sebastian Matta's Sans Titre (Les Enchants Vert), executed in 1973, which was sold for $112,915.

The Story About the Artist - Roberto Sebastian Matta (1911 - 2002)

Chilean-born artist Roberto Matta (born Roberto Sebastian Antonio Matta Echaurren) was an international figure known for his work in the Abstract Expressionist and Surrealist movements. In 1934 he was introduced to Salvador Dalí in Madrid, who encouraged Matta to show his drawings to André Breton. Breton and Dalí connected Matta to the Surrealist movement, which he officially joined in 1937, but was later expulsed. Matta often supplemented an aesthetic of pure abstraction with elements of figuration and precisely rendered, though fantastically conceived, three-dimensional space. In his art he manages to create new dimensions in a blend of organic and cosmic lifeforms. Throughout a long career that spanned six decades and multiple continents, Matta established himself as one of the central figures in the Surrealist movement. Matta balanced his interest in the human psyche with an active engagement with the external world. In the process of exploration of the unconscious mind through a symbolic language of abstract forms, he provided early and crucial inspiration for the Abstract Expressionists.

The Overview of Modern and Cotemporary Art Auction at Pandolfini

Out of total 120 lots that were auctioned at Pandolfini on June 9, 83 were sold (69.2 percent), for a total of $1,037,463 (the estimated value for these sold lots was in the range of $878,592 - $1,255,163). The average hammer price for a lot at Pandolfini Florence auction of Modern and Contemporary art was $12,524, while mentioned Giorgio de Chirico's work had the highest hammer price at $169,373. Thirty-four lots were sold over high estimate (a very good 41 percent), another 53 were sold in range of estimated values (53 percent), and only 5 lots were sold under low estimate (just 6 percent of sold lots).

When we talk about the most successful lots, lots that have exceeded expectations before the sale, the winner of this auction is, without a doubt, Jorge Eduardo Eielson's Quipus Bianco-Nero, which was sold with +500 percent difference between hammer price and high estimate. Honourable mentions are Robert Indiana's Love, Pierluca's Senza Titolo, Joseph Lacasse's Composition and Giuseppe Uncini's Senza Titolo, who all achieved between +160 and +175 percent difference. Of those lots that were not so successful, Natalja Sergeevna Goncarova's Riflessi and Franco Grignani's Psicoplastica 242 had two worst results, with -35 and -30 percent difference between hammer price and low estimate, respectively.

Giorgio De Chirico - Cavalli In Riva Al Mare, 1934 (Lot 169). Estimated at $169,373 - $225,830, sold for low estimate. This lot had the highest hammer price of the auction

Piero Gilardi - Composizione, 1996 (Lot 250). Estimated at $1,694 - $2,823, sold for $1,920.

Sebastian Matta - Sans Titre (Les Enchants Vert), 1973 (Lot 171). Estimated at $112,915 - $169,373, sold for low estimate, which was good for second place when it comes to highest hammer prices.

Left: Robert Indiana - Love (Lot 188). Estimated at $226 - $452, sold for $1,242, or with +174.8 percent difference. / Right: Pierluca - Senza Titolo (Lot 229). Estimated at $903 - $1,355, sold for $3,613, or with +166.6 percent difference between hammer price and high estimate.

Jorge Eduardo Eielson - Quipus Bianco-nero, 1974 (Lot 235). Estimated at $2,823 - $3,952, sold for $23,712. This was, by far, the most successful lot of the auction, in terms of difference between hammer price and high estimate, with +500 percent difference.

Gunter Fruhtrunk - Struktur, 1961-62 (Lot 243). Estimated at $33,875 - $56,458, sold for $41,779.

Alberto Biasi - Politipo, 1971 (Lot 176). Estimated at $6,775 - $11,292, sold for $20,325, or with +80 percent difference.

Davide Boriani - Superficie Magnetica Modulare N.2, 1959-60 (Lot 177). Estimated at $67,749 - $90,332, sold for low estimate.

Pandolfini - Modern and Contemporary Art Auction in Details

In two tables bellow, you will find out the summary of Modern and Contemporary Art auction at Pandolfini Florence auction house, as well as detailed information on every auctioned lot on June 9.

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All images courtesy of Pandolfini.

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