Mondriaan painting set to fetch €30m at auction later this year
A painting by the Dutch artist Piet Mondriaan is expected to sell for more than €30 million when it goes...
Dutch artist Piet Mondriaan's Composition III painting is set to be auctioned off for more than €30 million later this year, according to London-based Christie's auction house. The artwork, created in 1920, represents the era when Mondriaan refined his abstract style of Neo-Plasticism. The painting, which has been privately owned for 25 years, is anticipated to be the highest-priced piece at Christie's sale on October 14.
Keith Gill, head of impressionist and modern art at Christie's, described the work as "a very rare piece from the year that Mondriaan really found his footing as an artist." Mondriaan only completed eight paintings in 1920, five of which are currently held by prestigious museums like the Stedelijk Museum, Tate, and MoMA. Christie's estimates the painting's value between £20 million to £20 million (€23 million-€35 million), but Gill believes it could exceed the conservative estimate due to the piece's significance and superb condition.
The record price for a Mondriaan painting was set in 1922, when Composition no. II was sold for $51 million (€49.4 million) at Sotheby's in New York.
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