Share on FacebookShare on Google+Tweet about this on TwitterPin on PinterestShare on LinkedInShare on TumblrEmail this to someone

Sotheby's: Arte Moderna e Contemporanea (Milan) Auction Analysis

  • Sotheby's Milan
  • Sotheby's Milan
May 23, 2015

A simple fact that Arte Moderna e Contemporanea had the biggest amount of money ever gathered at Sotheby’s auction of Contemporary Art in Italy, tells us of how much this auction was successful. More than 80 percent of auctioned lots were sold, for 7.9 percent more than the sum of high estimates of these sold lots. Although a selection of works by Lucio Fontana dominated the whole auction, Paolo Scheggi’s rare Intersuperficie curva Bianca from 1969 stole the show and achieved a new world auction record for the artist at $1,507,815 – that was almost twice as much money as was given for the second-highest priced lot, Giorgio Morandi’s Natura Morta from 1953.

The Story About Artwork: Paolo Scheggi’s Intersuperficie curva Bianca (1969)

Paolo Scheggi’s Intersuperficie curva Bianca is constructed with superimposing three white planes with circular openings, thus creating a very unusual effect – an infinity of space, made on a finite artwork. Sixties in Italy were marked by artists that were searching for ways of breaking two-dimensional limitations of canvas (Piero Manzoni, Enrico Castellani, Agostino Bonalumi and Paolo Scheggi). Scheggi’s work was closely followed by Lucio Fontana, who used somewhat similar technique, but instead of making “holes”, which will play with shadows and light and give a 3-D look, Fontana simply slashed his canvases to achieve this look. Intersuperficie curva Bianca is one of the latest works produced by Scheggi before his premature death in 1971, at the age of 31.

  • Sotheby's Milan

The Overview of Sotheby's: Arte Moderna e Contemporanea (Milan)

Almost $18 million ($17,994,051) was collected at Sotheby’s Milan, at Arte Moderna e Contemporanea aucton, and that was $1.31 million more than the sum of high estimates for sold lots ($16,680,908, or +7.9 percent). The mentioned Paolo Scheggi’s work Intersuperficie curva Bianca had the biggest hammer price at $1,507,815, while the average hammer price was $160,661. The median hammer price was $64,222, which means that the same number of lots were sold both above and bellow median hammer price. Out of 139 lots, 112 lots were sold, which was good for 80.6 percent. Total of 50 lots were sold over high estimate (44.6 percent of sold lots), 45 were sold in range of estimated values (40.2 percent), and 17 lots were sold under low estimate (15.2 percent).

After Scheggi’s work, Giorgio Morandi’s Natura Morta had the biggest hammer price ($781,830), while two works by Lucio Fontana, Concetto Spaziale, Attesa from 1964 ($759,492) and Concetto Spaziale, Attese from 1961 ($737,154) were placed third and fourth. Umberto Mariani’s La Forma Celata was sold for six times more than was its high estimate, or with +500 percent difference between hammer price and high estimate. Mariani’s work was followed by two works by Vincenzo Agnetti, Permutabile (+246.7 percent) and Freedom Alienation Given The Opposites Freedom And Alienation We Will In Any Case Have A Political Ebb And Flow (+162.9). Sol Lewitt’s Right Triangle had the biggest negative difference between hammer price and low estimate, as it was estimated at $6,701 – $8,935, and was sold for $4,468 (-33.3 percent difference).

Sotheby's Milan
Lucio Fontana – Concetto Spaziale, Attese, 1963 (Lot 40). Estimated at $558,450 – $781,830. Sold for $603,126.
Sotheby's Milan
Lucio Fontana – Concetto Spaziale, Attese, 1961 (Lot 14). Estimated at $670,140 – $893,520. Sold for $737,154.
Sotheby's Milan
Giorgio Morandi – Natura Morta, 1953 (Lot 33). Estimated at $502,605 – $670,140. Sold for $781,830.
Sotheby's Milan
Alberto Burri – Bianco Cretto, 1972 (Lot 17). Estimated at $167,535 – $223,380. Sold for $335,070. It was sold with +140 percent difference between hammer price and high estimate.
Sotheby's Milan
Vincenzo Agnetti – Permutabile, 1967 (Lot 144). Estimated at $11,169 – $16,754. Sold for $58,079. This lot had the second-highest difference between hammer price and high estimate, with +246.7 percent.
Sotheby's Milan
Vincenzo Agnetti – Freedom Alienation Given The Opposites Freedom And Alienation We Will In Any Case Have A Political Ebb And Flow, 1970 (Lot 148). Estimated at $27,923 – $39,092, sold for $102,755 (+162.9 percent difference)
Sotheby's Milan
Paolo Scheggi – Intersuperficie Curva Bianca, 1969 (Lot 30). Estimated at $446,760 – $670,140. Sold for $1,507,815. Although this lot didn’t have the biggest estimated value before the auction, it had the highest hammer price, and was the only lot that was sold for a seven-figure price.
Sotheby's Milan
Left: Umberto Mariani – La Forma Celata, 2009 (Lot 176). Estimated at $6,701 – $8,935. Sold for 53,611. This lot had, by far, the biggest difference between hammer price and high estimate, +500 percent. / Right: Lucio Fontana – Concetto Spaziale, Attesa, 1964 (Lot 31). Estimated at $558,450 – $781,830. Sold for $759,492. This Fontana’s work had third-highest hammer price.
  • Sotheby's Milan

Sotheby's: Arte Moderna e Contemporanea (Milan) in Details

Here you have detailed information on every lot auctioned at Arte Moderna e Contemporanea auction at Sotheby’s Milan – an auction that broke the record for the amount of money gathered at Sotheby’s auction of Contemporary Art in Italy.

Total number of lots:139
Number of sold lots:112
Sold lots [%]:80.6
Total [$]:17994051
Number of sold lots over high estimate:50
Over high estimate (Total) [%]:36
Over high estimate (Sold) [%]:44.6
Number of sold lots in range of estimated values:45
In range of estimated values (Sold) [%]:40.2
Number of sold lots under low estimate:17
Under low estimate (Sold) [%]:15.2
Results were under estimate spread of [%]:28.3
Max Hammer [$]:1507815
Average Hammer [$]:160661
Median Hammer [$]:64222
Median Hammer Average Hammer Difference [%]:-60
Lot No.Artist NameArtwork NameLow Estimate $High Estimate $Hammer Price $Hammer High Estimate Difference [%]Hammer Low Estimate Difference [%]
1Lucio FontanaConcetto Spaziale446766701410052150125
2Lucio FontanaConcetto Spaziale44676670149828746.7120
3Agostino BonalumiBlu223380335070301563-1035
4Enrico CastellaniSuperficie Bianca11169016753521221126.790
5Paolo ScheggiZone Riflesse22338033507037974613.370
6Lucio FontanaConcetto Spaziale, Attesa390915502605457929-8.917.1
7Lucio FontanaFondo Marino55845781839493721.470
8Lucio FontanaCrocifisso6701489352201042125200
10Lucio FontanaConcetto Spaziale558457818378183040
11Lucio FontanaConcetto Spaziale (Vaso)446766701411727575162.5
12Lucio FontanaConcetto Spaziale2792253909154690982068
13Fausto MelottiI Maggio134028201042167535-16.725
14Lucio FontanaConcetto Spaziale, Attese670140893520737154-17.510
15Alberto BurriBianco Cretto167535223380536112140220
16Alberto BurriNero Cretto16753522338042442290153.3
17Alberto BurriBianco Cretto16753522338033507050100
18Alberto BurriSenza Titolo279233909222338-42.9-20
19Alberto BurriSenza Titolo279233909225689-34.3-8
20Enrico CastellaniSuperficie Bianca27922539091544676014.360
21Lucio FontanaConcetto Spaziale, Attesa502605725985469098-35.4-6.7
22Salvatore ScarpittaRed Ladder N. 227922539091562546460124
23Giuseppe CapogrossiSuperficie 448223380335070223380-33.30
24Lucio FontanaConcetto Spaziale111690167535111690-33.30
26Lucio FontanaConcetto Spaziale134028201042178704-11.133.3
27AfroSenza Titolo134028201042117275-41.7-12.5
28Alberto BurriNero Mi167535223380457929105173.3
29Agostino BonalumiRosso201042279225Not SoldNot SoldNot Sold
30Paolo ScheggiIntersuperficie Curva Bianca4467606701401507815125237.5
31Lucio FontanaConcetto Spaziale, Attesa558450781830759492-2.936
32Fausto MelottiSenza Titolo89352134028Not SoldNot SoldNot Sold
33Giorgio MorandiNatura Morta50260567014078183016.755.6
33AEnrico CastellaniSuperficie614295781830614295-21.40
34Agostino BonalumiBianco111690167535150782-1035
35Vincenzo AgnettiCultura Cancellata Dalla Forma E Tradita Dal Contenuto27923390926143057.1120
36Getulio AlvianiSuperficie A Testura Vibratile446765584549144-1210
37Gianni ColomboSpazio Elastico - Cubo4467655845759493670
38Lucio FontanaConcetto Spaziale256887312732Not SoldNot SoldNot Sold
39Piero DorazioBande55845781838935214.360
40Lucio FontanaConcetto Spaziale, Attese558450781830603126-22.98
41Arnaldo PomodoroSfera Con Sfera111690167535139613-16.725
42Alberto BurriCellotex P416753522338040208480140
43Lucio FontanaConcetto Spaziale502605725985491436-32.3-2.2
44Pietro ConsagraAlabastro Bifrontale 89352134028Not SoldNot SoldNot Sold
45Giuseppe CapogrossiSuperficie 243134028201042Not SoldNot SoldNot Sold
46Carla AccardiSenza Titolo89352134028Not SoldNot SoldNot Sold
47Arnaldo PomodoroSfera201042279225195458-30-2.8
48Paolo ScheggiIntersuperficie Curva Bianca279225390915268056-31.4-4
49Agostino BonalumiBlu223380335070223380-33.30
50Enrico CastellaniSuperficie Argento89352134028Not SoldNot SoldNot Sold
51Alighiero BoettiAerei20104227922544676060122.2
52Michelangelo PistolettoUomo Che Inchioda Il Filo Spinato223380335070223380-33.30
53Alighiero BoettiSan Bernardino (Gary Gilmore)558457818349144-37.1-12
54Alighiero BoettiSan Bernardino (Tempo)558457818375949-2.936
55Enrico CastellaniSuperficie Bianca279225335070312732-6.712
56Mario SchifanoPer La Strada-Ma Tutto Finto223380279225Not SoldNot SoldNot Sold
57Alighiero BoettiUnità Varietà1340282010422122115.658.3
58Lucio FontanaConcetto Spaziale670148935216753587.5150
60Tom WesselmannStudy For Bedroom Painting #29670148935287118-2.530
100Paolo ScheggiIntersuperficie Curva- Dal Bianco39092502616143022.257.1
102Enrico CastellaniSenza Titolo335074467633507-250
103Alberto BurriCombustione446766701439092-41.7-12.5
104Fausto MelottiI Magnifici Sette. Variazione N. 71340320104212215.658.3
105Lucio FontanaStudio Per Decorazione Architettonica55857818Not SoldNot SoldNot Sold
106Lucio FontanaStudio Per Decorazione Architettonica55857818Not SoldNot SoldNot Sold
108Pietro ConsagraTelegramma I 201042792326806-433.3
109Arnaldo PomodoroAste Cielare Xv446765584542442-24-5
110AfroManifesto6701489352Not SoldNot SoldNot Sold
111Roberto CrippaSpirale Materica111691675410052-40-10
112Piero ManzoniSenza Titolo5584578183Not SoldNot SoldNot Sold
113AfroStudio Per 'Les Yeux Les Matrices'78183100521Not SoldNot SoldNot Sold
114Lucio FontanaFigura Femminile89351340329039116.7225
115Marino MariniCavallo E Cavaliere558578185585-28.60
116TancrediSenza Titolo446867014468-33.30
117TancrediIl Fiore Di Foglia558578186701-14.320
118Lucio FontanaStudio Per Ceramica670189356701-250
119Lucio FontanaConcetto Spaziale446867014468-33.30
120Lucio FontanaAmbiente Spaziale145202010414520-27.80
121Lucio FontanaStudi Per Concetto Spaziale44686701Not SoldNot SoldNot Sold
122Lucio FontanaConcetto Spaziale201042792320104-280
123Lucio FontanaSenza Titolo31273390925026128.660.7
124Fausto MelottiPesce670189351563775133.4
125Lucio FontanaConcetto Spaziale, Natura134032010417870-11.133.3
126Fausto MelottiScherzo Di Primavera3909261430145197136.4271.4
127Agostino BonalumiRosso11169016753518987313.370
128Roberto Marcello BaldessariNarni1116916754Not SoldNot SoldNot Sold
129Antonio MarascoSenza Titolo3350744676Not SoldNot SoldNot Sold
130Felice CasoratiGiovinetto Nel Bosco3350744676Not SoldNot SoldNot Sold
131Giacomo BallaRitratto Di Giovanni Cena2792339092Not SoldNot SoldNot Sold
132Alberto SavinioSenza Titolo2010427923Not SoldNot SoldNot Sold
133Galileo ChiniNatura Morta2010427923Not SoldNot SoldNot Sold
134Giorgio De ChiricoGuerrieri Di Ritorno Da Troia3350744676Not SoldNot SoldNot Sold
135Getulio Alviani1.2.4.279234467626806-40-4
136Enrico CastellaniSenza Titolo335074467637975-1513.3
137Victor VasarelyAsko670148935267014-250
138Angelo BozzolaFunzione-Sviluppo Di Forma Concreta8935134037260-45.8-18.7
139Atanasio SoldatiComposizione89351340313403050
140Fabio Rafael Soto OrtizMentire Senza Dire Bugie446855854691-165
141Agostino BonalumiGiallo893521340281396134.256.3
142Luis TomaselloObject Plastique N. 3651675422338290393073.3
143Getulio AlvianiSuperficie A Testura Vibratile1116916754178706.760
144Vincenzo AgnettiPermutabile111691675458079246.7420
145Enrico CastellaniPolittico14519720104225688727.876.9
146Getulio AlvianiSuperficie A Testura Vibratile - Linee Luce33507446768041780140
147Agostino BonalumiBianco670148935214519762.5116.7
148Vincenzo AgnettiFreedom Alienation Given The Opposites Freedom And Alienation We Will In Any Case Have A Political Ebb And Flow2792339092102755162.9268
149DadamainoLettera 12 - (1) 3350744676Not SoldNot SoldNot Sold
150Carla AccardiSegni Grigi167542792316754-400
151Agostino FerrariTeatro Del Segno Contaminazione55857818Not SoldNot SoldNot Sold
152DadamainoVolume-Superficie-Volume 2010427923Not SoldNot SoldNot Sold
153Enrico CastellaniSenza Titolo1116916754178706.760
154Nicola De MariaLa Speranza D'Amore279233909233507-14.320
155Nicola De MariaTrionfo Della Carità279233909229039-25.74
156Renato GuttusoArmadio Realista8935213402889352-33.30
157Mario SchifanoTutte Stelle893511169134032050
158Mario SchifanoPaesaggio Anemico446766701450261-2512.5
159Robert IndianaClassic Love558578185585-28.60
161Alighiero BoettiA Come Alighiero B Come Boetti16754223384020880140
162Jacques VillegléRue Pierre-Demours89351340310052-2512.5
163Gianfranco BaruchelloProgetto Di Intervento Nella Piana Di Salerno558578185585-28.60
164Mario SchifanoPaesaggio Anemico167542233813403-40-20
165Mario SchifanoFuturismo Rivisitato A Colori7818310052112285922.257.1
166Gianfranco BaruchelloMont Sainte Marguerite558578181005228.680
167Mario SchifanoIl Sogno Dada Di Arturo Schwarz446766701455845-16.725
168Anish KapoorUntitled Sculptural Study89351340326806100200
169Sol LewittRight Triangle670189354468-50-33.3
170Rebecca HornSenza Titolo 8935134036701-50-25
171ChristoPacked Hay  (Project For The Institut Of Contemporary Art, University Of Pennsylvania, Philadelphia)33507446766143037.583.3
172Lawrence CarrollSenza Titolo3350744676Not SoldNot SoldNot Sold
173Vanessa BeecroftPerformance Detail, Moderna Musset, Stockholm, Sweeden 1998670178181061135.758.3
174Giovanni FrangiGiardini Pubblici111691675411169-33.30
175Maurizio CattelanErrotin- Le Vrai Lapin4467667014Not SoldNot SoldNot Sold
176Umberto MarianiLa Forma Celata6701893553611500700
177Marcello Lo GiudiceEden Blu558578181005228.680
178Carla AccardiAzzurri Misteri312733909239092025
179Vittorio MatinoSaint Jean De Lux44686701Not SoldNot SoldNot Sold
180Eliseo MattiacciSenza Titolo2004468670183772587.5
181Matteo PuglieseHope111691675410052-40-10
182Igor MitorajTesta Bendata4467655845725993062.5
TOTAL (Sold lots):1192403216680908179940517.950.9

Sign up now for My WideWalls and be up-to-date with contemporary and street art.

All images courtesy of Sotheby’s.