Piet Mondrian – Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue
Auction house Christie’s has projected auction sales of $2.1 billion in the first half of 2025. Piet Mondrian’s Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue from the Leonard & Louise Riggio Collection sold for $47.6 million to become most valuable work of art sold at auction so far. Key performance indicators, including overall sell through rate at 88% and hammer versus the low estimate index at 115%, have all showed strength and demonstrated the market leadership of Christie’s. The global auction house sold seven of the top 10 artworks and all top four works of art sold at auction in the six months. In addition, overall auction sales in the leading 20/21 category were stable to last year at $1.3 billion. Luxury sales were up 29%, which includes car sales at Gooding Christie’s (up 12% without Gooding Christie’s). In Jewels, Christie’s sold nine of the top 10 jewels at auction in the first half of the year. This has driven growth of 25%. The Old Master Group drove a 15% rise in auction sales in the first half of the year. Confidence for this continued momentum in the second half has been demonstrated by the record breaking $43.9 million sale in London of Canaletto’s masterpiece Venice, the Return of the Bucintoro on Ascension Day.
