A 1945 oil on canvas by Hilla von Rebay, 'Untitled (HRP025)', sold for $204,800 at Sotheby's in New York on October 9, smashing through its low estimate and setting a new auction record for the artist. According to HENI, the result came in at more than six and a half times the painting's low estimate. The sale beat the previous record for the artist by $22,100, a rise of 12 percent. That earlier mark was set in May 2024, when 'Con fuoco' (1945) fetched $182,700 at Wright in Chicago. Von Rebay — the abstract painter and curator who was the first director of the Museum of Non-Objective Painting, the institution that became the Solomon R. Guggenheim Museum — has seen a steady reassessment in recent years, including a dedicated presentation at September's Independent 20th Century fair in New York. The new result continues that momentum. The work has now changed hands twice at auction, and its trajectory mirrors the steady climb of von Rebay's market over nearly two decades. Before Con fuoco's 2024 record, her high-water marks included Delicate at $75,600 (Sotheby's New York, March 2022), Crosses at $74,500 (Phillips de Pury, 2011), Floating at $52,800 (Shannon's Fine Art Auctioneers, 2010) and Allegretto Quieto at $39,400 (Christie's New York, 2007). The $204,800 paid for Untitled (HRP025) is more than five times what her work commanded at auction nineteen years ago. Its strong showing adds another data point to the autumn auction season, where works by under-recognized twentieth-century women artists have repeatedly outpaced their estimates, and signals that the market's reassessment of von Rebay — long known more as an institution-builder than as a painter in her own right — is still accelerating.