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Pandolfini - Modern and Cotemporary Art Auction Analysis

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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.

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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.

Pandolfini
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
Pandolfini
Piero Gilardi – Composizione, 1996 (Lot 250). Estimated at $1,694 – $2,823, sold for $1,920.
Pandolfini
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.
Pandolfini
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.
Pandolfini
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.
Pandolfini
Gunter Fruhtrunk – Struktur, 1961-62 (Lot 243). Estimated at $33,875 – $56,458, sold for $41,779.
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Alberto Biasi – Politipo, 1971 (Lot 176). Estimated at $6,775 – $11,292, sold for $20,325, or with +80 percent difference.
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Davide Boriani – Superficie Magnetica Modulare N.2, 1959-60 (Lot 177). Estimated at $67,749 – $90,332, sold for low estimate.
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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.

INDEXRESULT
Total number of lots:120
Number of sold lots:83
Sold lots [%]:69.2
Total [$]:1,037,463
Number of sold lots over high estimate:34
Over high estimate (Total) [%]:28.3
Over high estimate (Sold) [%]:41
Number of sold lots in range of estimated values:44
In range of estimated values (Sold) [%]:53
Number of sold lots under low estimate:5
Under low estimate (Sold) [%]:6
Results were under estimate spread of [%]:29.4
Max Hammer [$]:169,373
Average Hammer [$]:12,524
Median Hammer [$]:4,517
Median Hammer Average Hammer Difference [%]:-63.9
Lot No.Artist NameArtwork NameLow Estimate $High Estimate $Hammer Price $Hammer High Estimate Difference [%]Hammer Low Estimate Difference [%]
140Joan MiròSenza Titolo10,16213,55014,1144.238.9
141Emilio VedovaDiario N8/86,7759,0336,775-250
142Bice LazzariComposizione9,03311,2929,033-200
143Giuseppe CapogrossiSuperficie4,5176,7755,081-2512.5
144Fausto PirandelloPaesaggio6,7759,033Not SoldNot SoldNot Sold
145Piero MarussigPaesaggio6,7759,033Not SoldNot SoldNot Sold
146Carlo CarràCapanni In Riva Al Mare33,87545,166Not SoldNot SoldNot Sold
147Arturo TosiPaesaggio7,90410,162Not SoldNot SoldNot Sold
148Arturo TosiVeduta Di Zoagli4,5176,775Not SoldNot SoldNot Sold
149Pio SemeghiniCanale Della Giudecca2,2584,5176,21037.5175
150Leoncillo LeonardiProgetto Per Camino11,29216,937Not SoldNot SoldNot Sold
151Leoncillo LeonardiVaso Scultura11,29216,937Not SoldNot SoldNot Sold
152Ardengo SofficiSera Di Primavera22,58328,229Not SoldNot SoldNot Sold
153Fateh MoudarresSenza Titolo6,7759,033Not SoldNot SoldNot Sold
154Fateh MoudarresLa Ninfa9,03311,292Not SoldNot SoldNot Sold
155Bice LazzariAcrilico N. 02,8233,9524,51714.360
156Manabu MabePoema 2475,6467,9047,339-7.130
157Fateh MoudarresNudo Coricato Su Un Fianco11,29216,937Not SoldNot SoldNot Sold
158Renato GuttusoTartaruga22,58333,87520,325-40-10
159Graham SutherlandPalm22,58328,22931,6161240
160Graham SutherlandSpiral Form22,58328,22924,841-1210
161ScipioneVilla Corsini28,22939,52027,100-31.4-4
162Achille FuniRitratto Femminile6,7759,033Not SoldNot SoldNot Sold
163Carlo CarràNatura Morta Con Pesci16,93722,583Not SoldNot SoldNot Sold
164Massimo CampigliPromenade Au Fond Jaune56,45879,04156,458-28.60
165Filippo de PisisVaso Di Fiori16,93728,22916,937-400
166Gino SeveriniNatura Morta Con Colombo E Frutta16,93722,583Not SoldNot SoldNot Sold
167Mario TozziFinestra A Saint Germaine-De-Pres22,58333,875Not SoldNot SoldNot Sold
168Giorgio De ChiricoDue Cavalli In Un Paesaggio Con Castello45,16667,74960,974-1035
169Giorgio De ChiricoCavalli In Riva Al Mare169,373225,830169,373-250
170Asger JornPas De Trois33,87545,166Not SoldNot SoldNot Sold
171Sebastian MattaSans Titre (Les Enchants Vert)112,915169,373112,915-33.30
172Claudio ParmiggianiChe Cos'È La Tradizione18,06620,325Not SoldNot SoldNot Sold
173Bernard AubertinCercle De Feu13,55016,93713,550-200
174DadamainoVolume56,45879,04156,458-28.60
175Getulio AlvianiCinque Colori                                                     10,16213,550Not SoldNot SoldNot Sold
176Alberto BiasiPolitipo6,77511,29220,32580200
177Davide BorianiSuperficie Magnetica Modulare N.267,74990,33267,749-250
178Carmelo CappelloComposizione565903Not SoldNot SoldNot Sold
179Giuseppe UnciniComposizione33956573429.9116.5
180Giuseppe UnciniSenza Titolo33956590359.8166.4
181Giuseppe UnciniComposizione5651,1291,35520139.8
182Marino MariniCavallo Profilo2,2584,517Not SoldNot SoldNot Sold
183Marino MariniCavallo2,2584,517Not SoldNot SoldNot Sold
184Giuliano VangiStudio Figura Maschile9031,3552,48483.3175.1
185Giuliano VangiStudio6771,1291,016-1050.1
186Alberto VianiFigura Sdraiata339565452-2033.3
187Giuliano VangiFigura Femminile Seduta6,7759,0337,339-18.88.3
188Robert IndianaLove2264521,242174.8449.6
189Miguel BerrocalMini David452677Not SoldNot SoldNot Sold
190Natalino AndolfattoComposizione1,1292,258Not SoldNot SoldNot Sold
191Alberto VianiBagnante4,5176,775Not SoldNot SoldNot Sold
192Giò PomodoroSole Produttore2,8233,9524,51714.360
193Giuseppe UnciniSenza Titolo3395651,468159.8333
194Jean Hans ArpSenza Titolo11,29216,937Not SoldNot SoldNot Sold
195Genevieve AsseComposizione1,1292,2582,93630160.1
196Agostino BonalumiStudio6771,355903-33.433.4
197Serge CharchounePetite Musique Funebre Schubert1,1292,2582,032-1080
198PierlucaS.505651,129565-500
199Alexander OrlovComposizione339677395-41.716.5
200Natalia DumitrescuPeinture5651,1292,484120339.6
201Arturo CiacelliComposizione339565339-400
202Joseph LacasseComposition6771,1292,936160.1333.7
203Aurelie NemoursMira-Ceti9031,3552,48483.3175.1
204Luigi RavasioTendenze226565226-600
205Aurelie NemoursIltifliaa I9,03311,2929,033-200
206Piero DorazioComposizione 13/C1,6942,8232,258-2033.3
207Bruno PulgaPittura N. V6771,355903-33.433.4
208Serge CharchouneComp-N Insp. Par La Harpe Var N35,6467,904Not SoldNot SoldNot Sold
209Alberto MagnelliComposizione2,8233,9524,7422068
210Louis MarcoussisCouple Assis3,9525,0815,87215.648.6
211Mario RadiceComposizione3,3875,646Not SoldNot SoldNot Sold
212Michail Fedorovic LarionovColque1,1292,2581,468-3530
213Giacomo ManzuStudio5651,129Not SoldNot SoldNot Sold
214Renato GuttusoIl Pensiero339565339-400
215Maria Helena Vieira da SilvaComposizione339565Not SoldNot SoldNot Sold
216Arturo BonfantiComposizione339565Not SoldNot SoldNot Sold
217Mario PrassinosParis Tan6771,3551,58116.7133.5
218Gino SeveriniIl Lavoro16,93722,583Not SoldNot SoldNot Sold
219Agostino BonalumiComposizione1,6942,8232,484-1246.6
220Victor PasmoreGren Development In Two Moments11,29216,93718,0666.760
221Plinio MesciulamComposizione9031,3552,48483.3175.1
222Pavel MansurovTension Picturale5651,129790-3039.8
223Pavel MansurovS.V.3,3876,7755,646-16.766.7
224Enrico PrampoliniCalligrafia Di Forme Nello Spazio B2,2583,387Not SoldNot SoldNot Sold
225Enrico PrampoliniComposizione3,3875,6465,420-460
226Atanasio SoldatiStudio Per Composizione1,6942,8231,807-366.7
227Marcelle CahnEquilibrio Di Rombi-Rettangoli-Triangolo226565452-20100
228Natalja Sergeevna GoncarovaRiflessi11,29216,9377,339-56.7-35
229PierlucaSenza Titolo9031,3553,613166.6300.1
230Marcel MartiComposizione5659031,01612.579.8
231Fernandez ArmanVioloncello3,3874,5174,065-1020
232Michelangelo PistolettoIntermediterraneo452903734-18.762.4
233Getulio AlvianiOpera Seriale9031,355Not SoldNot SoldNot Sold
234Max BillMezzo Cubo5651,129677-4019.8
235Jorge Eduardo EielsonQuipus Bianco-Nero2,8233,95223,712500740
236Franco GentiliniCattedrale2,2584,517Not SoldNot SoldNot Sold
237Gunter FruhtrunkComposizione1,3552,0321,694-16.625
238Arturo BonfantiAc. Murale - 112,8233,9525,08128.680
240Giorgio GriffaSenza Titolo3,3875,6463,839-3213.3
241Enrica Zanchi                              Strukture #3339565Not SoldNot SoldNot Sold
242DadamainoComposizione4,5175,646Not SoldNot SoldNot Sold
243Gunter FruhtrunkStruktur33,87556,45841,779-2623.3
244Jean GorinComposizione5,6467,9045,646-28.60
245Gunter FruhtrunkEpitaph Fur Jean Arp13,55016,93718,0666.733.3
246Michel SeuphorRosso-Bianco6771,3551,3550100.1
247Henri PfeifferComposizione226565169-70.1-25.2
248John-Franklin KoenigE339565Not SoldNot SoldNot Sold
249Gilberto ZorioSenza Titolo5651,129565-500
250Piero GilardiComposizione1,6942,8231,920-3213.3
251Julio Le ParcSerie 25 D 8-104,5176,7759,59841.7112.5
252Julio Le ParcSerie 31 D N. 104,5176,77510,16250125
253Luc PeireFugue Jaune 7484,5176,7758,4692587.5
254Luc PeireBagdad 874,5176,7757,90416.775
255Julio Le ParcRelief 282,8233,9523,387-14.320
256Victor VasarelyKerr5,6469,03314,67962.5160
257Franco GrignaniPsicoplastica 24211,29216,9377,904-53.3-30
258Luc PeireGraphie 11223,3875,6467,90440133.4
259Julio Le ParcSerie 25 D 12-144,5176,7759,03333.3100
260Julio Le ParcSerie 34 11-2 11-24,5176,7757,3398.362.5
TOTAL:1,197,6891,695,5321,037,463-38.8-13.4
TOTAL (Sold lots):878,5921,255,1631,037,463-17.318.1

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All images courtesy of Pandolfini.