Christie’s Offers $25 Million Piet Mondrian Painting in May 2021 – ARTnews.com
On Monday April 12th, Christie’s will be winding up a 1927 painting by Piet Mondrian in Hong Kong. The work goes on sale in the 20th century art night sale in New York on May 11th with no estimate, but the whisper number is around $ 25 million. After a three-day stay in Hong Kong, Composition: No. II with Yellow, Red and Blue (1927) is transported to London, where it can be seen from April 20-22.
The work is a prime example of Mondrian’s famous “neoplastic” style. It has been some time since a work was on the market that was as recognizable in the popular imagination as a Mondrian. The last time a similar work was offered was when Christie sold Composition No. III Red, Blue, Yellow, and Black in 1929 for $ 50.6 million in May 2015. This sale also set a record price for a Mondrian painting. Another painting by the artist, titled Composition with Yellow and Red, which is similar in size, date and composition to the one announced today, sold in London in 2003 for £ 2.15 million (US $ 3 million). In the nearly 20 years since then, the overall price level of the art market has increased dramatically.
The Mondrian joins a Waterloo bridge painting by Claude Monet with an expectation of $ 35 million and a 1932 portrait of Picasso Marie Thérèse on sale in 20th century art in New York in May Estimated $ 55 million.