Sotheby's Milan Auctions: Fontana Leads, Market Struggles
Sotheby's Milan auctions in 2016 saw Lucio Fontana's 'Concetto Spaziale, Attesa' (1967) sell for €1.323 million, the highest price. Enrico Castellani performed strongly with four of the top ten lots. Records were set for Franco Angeli ('Stelle', 1961, €87,000) and Fausto Melotti ('Canone variato II in oro', 1971, €519,000). Works by Mario Schifano, Tano Festa, Vincenzo Agnetti, Josef Albers, and Emilio Isgrò also sold well. However, Alighiero Boetti and Paolo Scheggi struggled, with only one Scheggi sold. Overall results declined compared to May 2015, reflecting a difficult Italian art market where significant works are increasingly inaccessible due to high commissions, and selling is challenging even for reputable dealers. The article questions whether scheduling the auction during miart would have improved outcomes.
Key facts
- Lucio Fontana's 'Concetto Spaziale, Attesa' (1967) sold for €1.323 million.
- Enrico Castellani had four of the top ten lots.
- Franco Angeli's 'Stelle' (1961) set a record at €87,000.
- Fausto Melotti's 'Canone variato II in oro' (1971) sold for €519,000, a record for an edition.
- Works by Alighiero Boetti and Paolo Scheggi underperformed.
- Overall auction results contracted compared to May 2015.
- The Italian art market faces challenges with high commissions and low margins.
- The auction was held in Milan in 2016.
Entities
Artists
- Lucio Fontana
- Enrico Castellani
- Mario Schifano
- Tano Festa
- Franco Angeli
- Fausto Melotti
- Vincenzo Agnetti
- Josef Albers
- Emilio Isgrò
- Alighiero Boetti
- Paolo Scheggi
- Antonella Crippa
Institutions
- Sotheby's
- Intesa Sanpaolo
- Artribune
Locations
- Milan
- Italy