Concetto Spaziale (1960) by Lucio Fontana has taken £1.6m ($2.5m) at Sotheby's 20th Century Italian Art auction in London.
The October 17 sale saw the work achieve an increase of 13% over its £1m-1.4m ($1.6m-2.2m) estimate.
The painting features thick yellow oil paint studded with slashes and stabs, and is a prime example of the work of the spacialist movement - which sought to transcend art by breaking through to the space beyond the canvas.
Works by the groundbreaking Italian artist have achieved impressive figures in the past. Concetto Spaziale, Le Chiese de Vienna made $6.8m at Sotheby's earlier this year.
Marino Marini's L'Idea De Cavalier (1955) was another high performing lot, hammering for £962,500 ($1.5m) - in the middle of its £800,000-1.2m ($1.2m-1.9m) estimate.
Ancient statues of horses and riders were the inspiration for the work. Marini was obsessed with making the subject matter applicable to the 20th century - leading him to create a series of highly abstract figures frozen in fear, seemingly about to be thrown from their mounts, that mirror the tension of the cold war.
Alberto Burri's Bianco-Rosso (T T X) (1954) made a 42% increase on its £400,000-600,000 ($639,680-959,520) estimate, achieving a figure of £854,500 ($1.3m).
Burri was an artist who incorporated industrial materials like plastic, wood and concrete into his paintings.
Along with Fontana he is commonly associated with the arte informale movement, a variant of abstraction that pushed the limits of painting and sculpture beyond traditional boundaries by placing an emphasis on method and material over the creation of rational forms.
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