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Wednesday, August 17, 2011

Malangatana Auction "A Italiana" Revoked

A Fiat 500 painted by the recently deceased Mozambican artist Malangatana, was being auctioned during a period with the purpose of raising funds to the Malangatana Valente Ngwenya foundation.

The auction ended on July 6 and it seems that only two offers were made, of which only the one of $150,000 offered by the Banco Comercial de Investimentos (BCI) has been made public.

According to Malangatana's son Mutxhini Malangatana, the result was fell short of expectations and the auction of "A Italiana" (The Italian Woman) was revoked on his instructions, justifying that Malangatana's latest masterpiece was expected to fetch the triple of what was offered, a value far superior to the artist's market value.

"A Italiana" is expected to go again into auction, this time lead by an auction house and for a period of at least two years.
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