14/09/2001
by Annalisa Rossi

Futurismo 1909-1944 currently showing at the Palazzo delle Esposizioni, Rome is an exhibition covering the movement’s entire history, from its early beginnings, through to its establishment as a recognised art historical grouping. The exhibition, which is an extended version of the recent show The noise of the street: Italian Futurism 1909-1918 which took place in the Sprengel museum in Hannover, consists of 400 works including paintings, drawings, architectural projects and sketches.

This current interest in Futurism is confirmed by recent sales on the international art market. Dealers and collectors began to take note of this movement particularly after 1990 when Sotheby’s enjoyed their highly successful Malbin collection sale, which contained a number of important Futurist works. Lydia Winston Malbin was one of the first major collectors of Italian Futurism and a good friend of many of the artists. The sale was a near total success with 93.6 % of the lots sold and premium prices reached for 13 artists including Balla, Severini and Carrà. Due to this sale and the now scarce number of quality works on the market, collector interest for Futurism is on the up.

Despite the general shortage of works, oils on canvas by Balla are frequently available on the market (their estimates are usually under $ 50,000, € 54,750) and can reach high prices. At Sotheby’s, Milan on the 21^st of November 2000 the painting Strong lines of the sea fetched $ 224,000 (€ 248,400) and in 2001, Landscape no.3 sold for $ 156,940 (€ 173,890) on the 30^th of May at Sotheby’s, Milan. Paintings by Carrà also average around 100 million lira. Among the best performances during the last year were The sails which sold for $ 215,000 (€ 238,080) after an estimate of $ 93,480-140,200 (€ 103,290-154,900) at Christie’s, Milan and The house of the mad (mountain houses) which sold for $ 204,900 (€ 226,400) at Sotheby’s, Milan. It is worth noting that this work was sold for $ 157,100 (€ 173,500) at Farsetti Arte in 1989. Despite a modest increase of 30% this confirms the interest of collectors in buying these works for long term investment. By comparison, Boccioni's paintings are very rare at auction, executed during his pre-Futurist period. Remarkably many of his paintings remain unsold with estimates between $ 70,150-93,480 (€ 77,400-103,290). With the exception of Portrait of doctor Tian which sold for $ 290,400 (€ 320,700) at Sotheby’s, Milan on the 21^st of November 2000, his works are not generally sought after by collectors.

Giovanna Bertazzoni, an expert at Christie’s, London commented "Recently (Futurist) works on paper are more sought after. They are beautifully executed and fresh on the market." On the 29^th of June 2000 at Christie’s, London, two Balla works on paper were available. A collage of a theatre scene from 1915 fetched an impressive $ 72,300 (€ 79,900) against an estimate of $ 29,300-44,000 (€ 32,300-48,500) and a pencil drawing from 1914 entitled Vortex and Space sold for $ 99,000 (€ 109,300) against an estimate of $ 51,300-66,000 (€ 56,600-72,850) . Generally speaking works on paper up until 1910 are more appreciated by collectors, carrying estimates between $ 32,700-70,100 (€ 36,100-77,400), whereas works from the 1920’s oscillate in price between $ 9,340-18,600 (€ 10,300-20,600). It is harder to find works on paper by Boccioni and Carrà, however when they do appear, small drawings are usually priced at $ 23,300-46,570 (€ 25,800-51,640). It is therefore possible to invest in Futurist works on paper at a reasonable cost and guarantee a tidy profit in the short term.

Lesser known Futurist works are also worth looking into. A spokesman for the cultural association of Futurism noted that "The interest of young collectors for Futurism is very active at the moment. Works and artists, once considered of minor interest, are now reaching considerable prices on the market". An auction sales analysis by the Gabrius Data Bank supports this view. During the last decade, of the 18 works produced by Baldessari offered at auction, half of these were later re-offered for sale in the last twelve months. For example Futurist still life, an oil on cardboard from 1917, estimated at $ 28,000-37,300 (€ 30,900-41,300), sold for $ 50,500 (€ 55,800) at Christie’s, Milan in November 2000. In the same sale another two paintings, which had been considered as lesser works, reached good prices. Figure in the space by Fillia sold for $ 49,400 (€ 54,600) and Cassandra at the seaside by Prampolini sold for $ 46,600 (€ 51,500). Also of note are the sales of the artist Dottori, who has, according to the Gabrius Data Bank, shown a market rise of 53 % during the last ten years. On the basis of his performance at Christie’s, Milan in May 2000, his works on cardboard now have a price tag of over $ 28,000 (€ 30,900).