New $51M Auction Record Set For Piet Mondrian At Sotheby’s

Signature Grid Masterpiece Composition No. II Sells for $51 Million. One of the Most Important Works by the Artist Ever to Appear on the Market.

Recently in a packed Sotheby’s New York saleroom, Piet Mondrian’s Composition No. II, a masterwork from 1930 which encapsulates the pinnacle of the artist’s signature abstract geometric compositions, sold for a record $51 million to a collector from Asia, establishing a new world auction record for the artist.

As one of the earliest and most innovative creators of truly abstract painting, tonight’s result places Mondrian among the great Dutch masters, in company with Rembrandt and Van Gogh, who revolutionized painting and the course of art history in their time.

New $51M Auction Record Set For Piet Mondrian At Sotheby's

The recent sale marked the first time the painting has appeared at auction in nearly 40 years, when it previously sold in 1983 for $2.15 million, at the time an auction record for the artist.

Works by Mondrian with a predominance of the colour red are exceptionally rare within his oeuvre, Composition No. II is one of only three paintings to feature a dominant red square at the upper right; the other two works with this feature are both in museum collections (the National Gallery of Belgrade and the Kunsthaus Zurich). Red is only featured in 17 paintings of the nearly 120 works executed by the artist from 1921 to 1933, and of this group, only three paintings remain in private hands.

Sothebys

Sotheby’s has been uniting collectors with world-class works of art since 1744. Sotheby’s became the first international auction house when it expanded from London to New York (1955), the first to conduct sales in Hong Kong (1973), India (1992) and France (2001), and the first international fine art auction house in China (2012). Today, Sotheby’s has a global network of 80 offices in 40 countries and presents auctions in 10 different salesrooms, including New York, London, Hong Kong and Paris. Sotheby’s offers collectors the resources of Sotheby’s Financial Services, the world’s only full-service art financing company, as well as the collection, artist, estate & foundation advisory services of its subsidiary, Art Agency, Partners. Sotheby’s also presents private sale opportunities in more than 70 categories, including S|2, the gallery arm of Sotheby's Global Fine Art Division, and three retail businesses: Sotheby’s Wine, Sotheby’s Diamonds, and Sotheby’s Home, the online marketplace for interior design.