Lucio Fontana (1899 - 1968),  Concetto Spaziale, signed, lacerations and graffiti on brass, 96,5x63cm. Executed in 1964-65. Estimation 550,000-750,000 EUR. Lot vendu: 1,184,750 EUR. Photo Sotheby's

MILAN.- Concetto Spaziale by Lucio Fontana, lacerations and graffiti on brass, has more than doubled its pre-sale estimate. The work, dated 1964-65, after a few minutes competition, achieved the price of € 1,184,750.

This Concetto Spaziale fetched such a remarkable price thanks to its rarity: in fact Lucio Fontana realized only 9 pieces of the Ottoni series.

Propaganda, a 1962 beautiful Pop artwork by Mario Schifano, coming from a private collection, set the Italian auction record for the artist, reaching € 252,750.

Lucio Fontana realized in 1962-63 for one of his major collectors a gold bracelet - Concetto Spaziale - a unique piece (est. € 30,000-40,000), which quadrupled its high estimate marking a new world auction record for a jewel designed by an artist: it was sold at € 126,750.

Giorgio de Chirico, included in the catalogue with two Manichini from his Neo-metaphysical period, registered successful prices: lot 7, Il Poeta Solitario and lot 4, Il Trovatore were purchased for € 192,750 and € 264,750.

Raphaelle Blanga, Director of Sotheby’s Italy Modern and Contemporary Art department, commented: “We are very satisfied by tonight’s results, especially for the prices achieved by works of small dimensions but highly refined such as the two golden Fontana and the little silver Castellani , that collectors bought for more than their highest estimates.”

The sculptures proposed in the sale gave very positive feedback, for example: Fontana (lot 8, Arlecchino, ceramic, 1953, est. € 50,000-70,000, sold at € 192,750),  Melotti (lot 9, Senza Titolo, 1976, est. € 70,000-90,000, sold at € 162,750) and the 1968 Semicolonna A, bronze, by Arnaldo Pomodoro, which was sold at € 84,750.

All the works by international artists offered, especially those by Stella (lot 46), Albers (lot 27), Wesselmann (lot 50) and Christo (lot 47), were brilliantly sold.

Raphaelle Blanga added: “Moreover, we would like to underline the perfect balance between the Italian and the International clients active in the sale, who demonstrated with their purchases a careful research for the extreme rarity of the artworks selected”.