MILAN.- Christie's flagship sale Thinking Italian Milan achieved exceptional sell through rates at 94% by lot and 99% by value, realising a combined total of €13,932,875 / £11,918,627 / $15,661,076. The evening portion of the sale was 100% sold, as the full and energised saleroom witnessed competitive bidding on the telephone, in the room and online, with registered bidders coming across 20 countries. This confirms Christie’s Italy as an international stage for buying the best possible Italian art from the 20th century.
The top lot of the sale was Giorgio Morandi’s Natura Morta, which sold to an online bidder for €1,570,000. Over 15% of the sales were sold or directly underbid by online clients.
Further highlights included Mario Schifano’s Particolare di propaganda, which realised €634,000, achieving the second highest auction price for the artist. The figurative artists presented in the sale also witnessed strong results as Ubaldo Oppi’s Giovani donne al mare, fetched €200,000, a world record price for the artist at auction. Three paintings by Piero Dorazio also saw intense bidding with Giada I realising €310,000, Berlin Air making €358,000 and Introspezione achieving €334,000. The latter was part of a wider group of 9 works sold to benefit Water Academy. All 9 lots exceeded their estimates, realising a combined total of €1,663,500, the proceeds of which will strengthen higher education and further the research of this important cause.
Professor Alessandro Leto, Director of Water Academy SRD, comments: "Thanks to the generosity of Christie's, the collectors and those who supported us in this operation, the results of the 9 works in this sale will further support the scientific research in response to the global water crisis. These proceeds will also benefit students around the world with the aim of gaining a full scholarship to enrol in higher education courses offered by Water Academy SRD. The purpose of this initiative is to give Water Academy SRD the opportunity to encourage a new culture of water. This has been widely achieved, as shown by the results of the sale which exceeded our expectations. "
