Lucio Fontana (1899-1968) Concetto Spaziale, Forma 800,000—1,200,000 GBP Lot Sold. Hammer Price with Buyer's Premium: 1,049,250 GBP

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: €220,700 / £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