Dear Kent,

Thank you for contacting Mearto with your appraisal inquiry. My sincere apologies for the delay with the apprisal.

The presented object appears to be an ink drawing in red on paper with the measurements of 9.75 x 14.125 inches. The drawing depicts a circle in red and appears to be signed by the Italian artist Lucio FONTANA (1899-1968) in ballpen and dated (19)64. It appears to have an exhibition, collection, or galley stamp from Rome.
Works by this artist were recently offered and sold on the international auction market.
This piece is in good condition and there is no serious damage visible in the images provided.
A fair market estimation would be between 6.000 to 12.000 USD.
This estimate is based on actual recent past recorded auction sales of comparable items. Retail "asking prices" can be higher and may vary.

An artwork of such high potential value requires further authentication research. This estimate is provided on the condition of authenticity.

With kind regards,
George