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Sotheby's To Sell Rediscovered Masterwork By Lucio Fontana - Concetto spaziale, 1961
Lucio Fontana (1899-1968) Concetto spaziale of 1961. Estimated at £5-7 million ($7,650,000-10,700,000). © Sotheby’s London.LONDON.- Sotheby’s announced that it will offer such as oil painting for sale the recently rediscovered, museum-quality painting Concetto spaziale of 1961, by Italy’s foremost Contemporary artist Lucio Fontana** (1899-1968). From the artist’s celebrated Venezia Series, Concetto spaziale is completely fresh to the market and has been hidden from public view for almost 50 years. The painting Frame on canvas will be included in the London Contemporary Art Evening auction on Thursday, February 5, 2009 and is estimated at £5-7 million ($7,650,000-10,700,000).

Commenting on this masterwork, Cheyenne Westphal, Chairman Contemporary Art Europe and Oliver Barker, Senior International Specialist, Contemporary Art, said: “We are thrilled to be offering for sale such a remarkable work by Italy’s most important Contemporary artist, Lucio Fontana, from his most sought after series. Concetto spaziale is not only stunningly beautiful, it is one of the most prized works from his entire output and testament to the artist's genius and tireless innovation. The painting is one of the most successfully conceived and executed paintings in the Venezia cycle and its sale will provide collectors with the unparalleled opportunity to acquire a masterpiece of 20th-century European abstract oil painting.”

Concetto spaziale, which was acquired directly from the artist in the 1960s, has resided in the same private collection for over 45 years and the compelling appeal of this museum-quality work is that it has been unseen virtually since its creation. In the three generations of Enrico Crispolti's catalogue raisonné for Fontana's oeuvre, Concetto Spaziale features as a legendary enigma among the Venezia cycle, the same black and white photograph that reappeared in each of the 1974, 1986 and 2006 editions. The painting has not been seen in public since it was exhibited in the 1960s and the re-emergence of this outstanding work on the market represents an historic event in the exhibition of Fontana's art and a milestone for the scholarship of his work.

This sublime painting, which belongs to Fontana’s extremely rare and very short Venezia cycle of 22 paintings from 1961, each in this unusually large square format, measuring 150 by 150 cm (59 by 59 inches), was inspired by and dedicated to Venice. The gallery oil painting for sale In this series, the artist sought to capture the city’s intoxicating beauty, its transcendental atmosphere and its unique marriage of architecture and water in an abstract oil painting language consistent with his evolving conceptual project known as Spatialism. Fontana was invited to contribute to the Arte e Contemplazione exhibition at the Centro Internazionale delle Arti e del Costume of the Palazzo Grassi (owned by the entrepreneur and patron Paolo Marinotti) and painted the 22 one and-a-half metre square paintings dedicated to Venice in the first half of 1961.