Rare Mondrian painting expected to be auctioned for more than $50 million

The iconic black grid lines and vividly coloured squares of Piet Mondrian's work are among the most stunning examples of abstract painting. One of his most expensive paintings is currently up for sale, and according to Sotheby's, it might fetch more than $50 million.

Mondrian's signature work, "Composition No. II," will be auctioned off at Sotheby's on November 14.

The auction house is promoting the piece of art, which is composed of squares in the colours blue, red, white, and yellow, as "one of the most significant and valuable works by the artist ever offered on the market."

Add WION as a Preferred Source

According to Julian Dawes, head of Impressionist and Modern Art, Americas at Sotheby's, "Quintessential works by Piet Mondrian rarely come to auction as many are housed in the most prestigious museum collections around the world."

The 1930 picture was last auctioned off in 1983. According to Sotheby's, it is one of only three that has the dominating red square at the upper right. The two other similar pieces of art are smaller and are kept in museum collections.

Also Read:Famous moai statues 'irreparably' damaged due to Easter Island fire

Early in 1912, Mondrian relocated to Paris after being inspired by the early Cubist creations of Georges Braque and Pablo Picasso. There, he started to play with the fragmented and abstract representation of reality. He reduced his usage of lines to only vertical and horizontal.

According to a press release, American sculptor Alexander Calder visited the artist in his Paris studio the year that his renowned composition was created and noted that the walls were "painted white and divided by black lines and rectangles of bright colour, like his paintings."

(with inputs from agencies)