Rare Mondriaan to be auctioned and expected to fetch tens of millions

Art enthusiasts, take note. A rare masterpiece by Piet Mondriaan is heading to auction. Compositie III from 1920 will go under the hammer for the first time on 14 October at Christie's in London. The expected price? Between 20 and 30 million British pounds, equivalent to approximately €23 to €35 million.

Masterpiece from a pivotal year

Compositie III was created in 1920, a crucial year in Mondrian's career. During this period, the Dutch artist developed the radical abstract style that would make him world-famous. That year his output was small: Mondrian completed just eight paintings.

Five of them are now housed in leading museums, including Tate in London, the Museum of Modern Art in New York and Stedelijk Museum in Amsterdam. Only three remain in private hands. According to Christie's, Compositie III is therefore the most significant Mondrian to appear at a European auction since 2009.

Millions expected

With an estimated value of up to €35 million, the work promises to be one of the highlights of the upcoming auction season. Thanks to its exceptional significance and excellent condition, the painting could well fetch a higher price when it changes hands. The current auction record for Mondrian stands at $51 million, equivalent to approximately €49.4 million at the time. That sum was paid at Sotheby's in New York in 2022 for Compositie No. II from 1930.

Back in the spotlight after 25 years

What makes this particularly special: Compositie III has not been publicly displayed for at least 25 years. The masterpiece was previously owned by American architect and collector Armand P. Bartos and his wife Celeste.

Before all eyes turn to London on 14 October, the Mondrian will first embark on an international tour through Zurich, Paris, New York and Hong Kong. From 8 October, the painting can be seen at Christie's in London.