Mondrian painting fetches $47.6 million at auction

A Piet Mondrian painting sold at auction for $47.6 million on Monday, marking a significant sale amidst economic uncertainty in the art market. The sale is part of a week of auctions testing the art market's strength. The 1922 work, "Composition with Large Red Plane, Blue Gray, Yellow, Black, and Blue," was expected to sell for between $40 and $50 million. The auction also featured a Claude Monet painting that sold for $43 million. The auction results will be closely watched as Christie's, Sotheby's, and Phillips hold their sales this week, with a combined estimate of over $1.2 billion. The sales come amid concerns about economic conditions and potential tariffs.