Christie's and Sotheby's Milan Auctions: Strong Results for Italian Art

Christie's and Sotheby's held successful spring auctions in Milan in 2017, with Christie's selling 94% of 88 lots for €13.3 million and Sotheby's selling 78% of 104 lots for €14.2 million. Both houses adopted strategies of reducing lot numbers, setting realistic estimates, and securing bidders in advance. Christie's set records for Fausto Melotti (€608,190 for 'Tema e variazioni I'), Leoncillo, Giosetta Fioroni, Piero Gilardi, and Gianfranco Pardi. Sotheby's saw strong performances from two Joseph Albers works (€703,500 and €631,500) and an Alberto Burri combustion (€607,500). Directors noted the growing international appeal of Italian art, with bids from China, the US, the Middle East, and Europe. The top lots at Christie's included works by Fontana, Castellani, Melotti, Lo Savio, Boetti, and Scheggi; at Sotheby's, Fontana, Albers, Burri, Morandi, Manzoni, and Castellani. A small Morandi teapot sold for €511,500 and a Fontana crucifix exhibited at the 1948 Venice Biennale fetched €331,500.