Lucio Fontana “Concetto Spaziale”
Sotheby’s did not expect this sale to be as successful as it was. They anticipated a good auction but this exceeded their expectations by more than ten million pounds. Not only the room had a great number of determined bidders but also the presence of the phone bidders was felt at the sale non stop.
Sotheby’s blames the success to having the right collection with the right marketing at the right time. The total sales for this auction were in excess of 54 million pounds making it the second highest ever Contemporary Sale in London. In this sale only, 24 world records were set.
They had many works new to the market and also many unknown artists that bidders were eager to experiment on. Phenomenal results as well for Latin American Artists demonstrated the strength that Latin American Art has. A Jesus Rafael Soto fetched almost £300,000; a Victor Vasarely brought more than £500,000; an Eduardo Chillida brought more than £1 million while a Lucio Fontana work called “Concetto Spaziale” fetched more than £3 million.
Sotheby’s is anticipating their upcoming Contemporary sales on May and June 2010.
Until next time,