A geometric painting by Dutch modernist Piet Mondrian, composed of red, yellow, and blue squares arranged in a grid-like pattern, was sold for US$47.6 million on May 12. The sale marked the beginning of a week of high-profile New York auctions that will challenge the resilience of the art market amid economic uncertainty and new tariffs on luxury items ranging from wine and watches to designer handbags.
Mondrian’s 1922 piece, titled 'Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue,' had been estimated by Christie’s to fetch between $40 million-$50 million. In the end, a single bidder secured it for $47.6 million after fees.
If you're still taken aback by those staggering numbers, you're not alone. Check out this gallery to see the most expensive paintings ever sold at auction.