Rare Mondrian Painting Resurfaces, Sells for Record $47.6M
A rare Mondrian painting, missing for nearly three decades, has resurfaced and sold for a record-breaking sum. This sale is one of three masterpieces that have surpassed $40 million this year, indicating a strong appetite for old masters and modernist works despite global economic uncertainty.
The Mondrian painting, 'Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue', was originally owned by Dutch poet Antony Kok, a close friend and patron of the artist. It was last seen nearly 30 years ago and has now been sold at Christie's New York for $47.6 million, making it the most expensive artwork sold at auction this year.
This sale follows the recent trend of remarkable artworks achieving record sums at auction, even after the post-Covid-19 downturn. Earlier this year, Monet's 'Peupliers au bord de l'Epte, crépuscule' sold for $42.9 million at Christie's, marking a shift towards abstraction in his work. Similarly, Canaletto's 'Venice, the Return of the Bucintoro on Ascension Day' sold for $43.82 million at Christie's London, becoming the most expensive Canaletto ever sold at auction. Frida Kahlo's 'The Two Fridas' is predicted to fetch between $40-60 million when it goes under the hammer at Sotheby's in November.
These record-breaking sales suggest that the art market remains robust, with collectors continuing to seek out and invest in exceptional works by old masters and modernist heavyweights. Despite global economic uncertainty, remarkable artworks continue to command high prices at auction.
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