Colorful Grid Painting by Piet Mondrian Fetches $47.6 Million at Auction
Colorful Grid Painting by Piet Mondrian Fetches Million at Auction
While it went for well below the auction house’s estimate, “Composition With Large Red Plane, Bluish Gray, Yellow, Black and Blue” is now the Dutch artist’s third highest-selling work
Lillian Ali
- Staff Contributor
May 16, 2025 2:23 p.m.
Composition With Large Red Plane, Bluish Gray, Yellow, Black and Blue, Piet Mondrian, 1922
Christie's
A 1922 painting by Piet Mondrian fetched million at auction, becoming the Dutch artist’s third highest-selling work.
Titled Composition With Large Red Plane, Bluish Gray, Yellow, Black and Blue, the artwork features Mondrian’s signature grid-like patterns and bright colors, including a large red square. Experts at Christie’s had expected it to sell for around million.
“Red always helps, simple as it is, because it’s a color people like,” Alex Rotter, Christie’s president, tells the Wall Street Journal’s Kelly Crow.
If it had sparked a bidding war, it could have broken the artist’s auction record of million, set by Composition No. II
Composition No. II, Piet Mondrian, 1930
Alexi Rosenfeld / Getty Images
However, the May 12 auction attracted only one bidder, who purchased the piece for million.
“It’s a fantastic picture,” Hugo Nathan of the art advisory Beaumont Nathan tells Artnet’s Katya Kazakina. “But the market at those very high levels is quite tricky.”
Born in the Netherlands in 1872, Mondrian began his artistic career by painting landscapes and Cubist works. However, he’s famous for the style he developed in the 1920s, when he was in his 40s and 50s. His best-known pieces feature clean lines, eye-popping colors and abstract canvases filled with geometric shapes.
“While prevailing artistic trends in post-war Europe favored a return to figuration and classical ideals, Mondrian pursued his own unique form of pure abstraction—a groundbreaking and thoroughly modern approach to painting in service of the creation of a universal visual language,” Vanessa Fusco, head of Impressionist and modern art at Christie’s, says in a statement.
Composition With Large Red Plane, Bluish Gray, Yellow, Black and Blue had belonged to Louise Riggio, the wife of Barnes & Noble founder Leonard Riggio.
Christie’s secured the collection by offering the Riggio estate an undisclosed guarantee, promising a minimum price regardless of the auction’s success. To offset its own risk, Christie’s arranged for outside buyers to place pre-sale bids on certain lots.
For that reason, many lots didn’t have “a bounce,” or more bidding following a first bid, Rotter tells Artnet. “We had to manage our risk portfolio,” Rotter says. “This is the art market in the real world.”
One of those one-bid lots was the Mondrian composition, which appears to have been purchased by its guarantor.
In total, the Riggio collection made million, including fees. Without fees, though, the sale fell short of Christie’s million estimate, according to the New York Times’ Zachary Small and Tim F. Schneider. Many of the guarantees placed lots below their estimated values. For example, Pablo Picasso’s Mère et Enfantsold for million, though it was expected to fetch at least million.
Speaking to Artnet, art adviser Ralph DeLuca describes these “low-margin” third-party guarantees as “blood sport.”
However, some experts think the Mondrian’s price tag was inflated to begin with. “Overpricing at the start was a deterrent with many collectors, despite the quality and rarity of the work,” art dealer Brett Gorvy tells the Times.
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#colorful #grid #painting #piet #mondrian
Colorful Grid Painting by Piet Mondrian Fetches $47.6 Million at Auction
Colorful Grid Painting by Piet Mondrian Fetches Million at Auction
While it went for well below the auction house’s estimate, “Composition With Large Red Plane, Bluish Gray, Yellow, Black and Blue” is now the Dutch artist’s third highest-selling work
Lillian Ali
- Staff Contributor
May 16, 2025 2:23 p.m.
Composition With Large Red Plane, Bluish Gray, Yellow, Black and Blue, Piet Mondrian, 1922
Christie's
A 1922 painting by Piet Mondrian fetched million at auction, becoming the Dutch artist’s third highest-selling work.
Titled Composition With Large Red Plane, Bluish Gray, Yellow, Black and Blue, the artwork features Mondrian’s signature grid-like patterns and bright colors, including a large red square. Experts at Christie’s had expected it to sell for around million.
“Red always helps, simple as it is, because it’s a color people like,” Alex Rotter, Christie’s president, tells the Wall Street Journal’s Kelly Crow.
If it had sparked a bidding war, it could have broken the artist’s auction record of million, set by Composition No. II
Composition No. II, Piet Mondrian, 1930
Alexi Rosenfeld / Getty Images
However, the May 12 auction attracted only one bidder, who purchased the piece for million.
“It’s a fantastic picture,” Hugo Nathan of the art advisory Beaumont Nathan tells Artnet’s Katya Kazakina. “But the market at those very high levels is quite tricky.”
Born in the Netherlands in 1872, Mondrian began his artistic career by painting landscapes and Cubist works. However, he’s famous for the style he developed in the 1920s, when he was in his 40s and 50s. His best-known pieces feature clean lines, eye-popping colors and abstract canvases filled with geometric shapes.
“While prevailing artistic trends in post-war Europe favored a return to figuration and classical ideals, Mondrian pursued his own unique form of pure abstraction—a groundbreaking and thoroughly modern approach to painting in service of the creation of a universal visual language,” Vanessa Fusco, head of Impressionist and modern art at Christie’s, says in a statement.
Composition With Large Red Plane, Bluish Gray, Yellow, Black and Blue had belonged to Louise Riggio, the wife of Barnes & Noble founder Leonard Riggio.
Christie’s secured the collection by offering the Riggio estate an undisclosed guarantee, promising a minimum price regardless of the auction’s success. To offset its own risk, Christie’s arranged for outside buyers to place pre-sale bids on certain lots.
For that reason, many lots didn’t have “a bounce,” or more bidding following a first bid, Rotter tells Artnet. “We had to manage our risk portfolio,” Rotter says. “This is the art market in the real world.”
One of those one-bid lots was the Mondrian composition, which appears to have been purchased by its guarantor.
In total, the Riggio collection made million, including fees. Without fees, though, the sale fell short of Christie’s million estimate, according to the New York Times’ Zachary Small and Tim F. Schneider. Many of the guarantees placed lots below their estimated values. For example, Pablo Picasso’s Mère et Enfantsold for million, though it was expected to fetch at least million.
Speaking to Artnet, art adviser Ralph DeLuca describes these “low-margin” third-party guarantees as “blood sport.”
However, some experts think the Mondrian’s price tag was inflated to begin with. “Overpricing at the start was a deterrent with many collectors, despite the quality and rarity of the work,” art dealer Brett Gorvy tells the Times.
Get the latest stories in your inbox every weekday.
#colorful #grid #painting #piet #mondrian
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