On November 26, Sotheby’s Italia presents in Milan a catalog of modern and contemporary art with 80% of the lots never before auctioned.
When will the sale take place in Milan?
The maison closes 2025 with a live auction on November 26, preceded by a preview from November 21 to 25 in the halls of Palazzo Serbelloni.
The catalog spans two centuries, from Melotti to Burri and from Peyton to Fontana, with a curatorial approach attentive to first-time auction appearances. That said, the selection remains oriented towards museum-quality works.
Why does Sotheby’s Italia focus on the unpublished?
“This sale is distinguished by an exceptional selection of works never before seen on the market,” explains Marta Giani, director of the Contemporary Art Department. Indeed, 80% of the lots have never been offered at auction.
Moreover, the strategy intercepts the demand for fresh market works, often capable of exceeding high estimates in the presence of solid provenance and impeccable preservation.
What results in 2025 support the strategy?
After Fine Jewels and Watches in October at €6 million and, in September, the collection of paintings and decorative arts from the 16th to the 20th century at €5.3 million (with the highest auction rate ever recorded for this type in Italy), in May the Modern and Contemporary Art auction totaled €11.4 million.
| Month 2025 | Sale | Total |
| May | Modern and contemporary art | €11.4 million |
| September | Paintings and decorative arts 16th–20th century | €5.3 million |
| October | Fine Jewels and Watches | €6 million |
In 2025, the Italian branch recorded an auction rate of 90% (in line with the 2018 record) and two-thirds of the lots above the high estimate, the best figure since 2021. Moreover, the Milan branch consolidates an international audience.
Which top lots lead the sale?
Lucio Fontana opens the chapter of top lots with three works. A Concetto spaziale, Attese in red, estimate €600,000–800,000; a white Attese from 1968, estimate €700,000–1,000,000; and an aluminum work from 1965, estimate €800,000–1,200,000.
“The precise cuts of the red and white canvases, together with the engraved surface of the metal, show the mastery with which Fontana transforms the gesture into a universal language of matter, light, and thought,” says Francesca Lumina, Head of Sale. Furthermore, “from the purity of painting to the density of metal, the work opens a dimension where art transcends physical limits to become an experience of the infinite.”
De Chirico and Burri, between metaphysics and matter
Giorgio de Chirico is present with the “Archeologi” from 1929–30: two metaphysical figures, between mannequins and ruins, sitting side by side under classic drapes. Estimate €350,000–450,000.
Alberto Burri, Bianco CN 3 from 1966, comes from a prestigious Japanese collection. It belongs to the “Bianchi” series, more composed and meditative, far from the tears of the Sacchi and the combustions. Estimate €250,000–350,000. Courtesy of Sotheby’s.
Which international artists complete the catalog?
Alongside the great Italians are William Copley, Emilio Vedova, Carla Accardi, Fausto Melotti, and Enrico Castellani. Moreover, Giani speaks of “a rich and multifaceted dialogue that illuminates crucial junctions of 20th and 21st-century art.”
Elizabeth Peyton presents Franz in Hamburg, a portrait of the German Franz Ackermann captured during a walk through the streets of Hamburg. The city seems to engulf him or extend from him. Estimate €100,000–150,000. See here the profile of Elizabeth Peyton.
Debut on the Italian podium for Lisa Yuskavage with the eccentric Wee Headshrinker from 1996, a work in constant tension between high and low, harmony and dissonance, sacred and profane. Estimate €40,000–60,000. Finally, the verdict will arrive in the room.
Overall, the premises indicate an ambitious year-end closure; the word goes to Milan, where the market will assess the impact of the unpublished works proposed by Sotheby’s Italia.
As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist and Econique.
She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.
