Josef Albers' Homage to the Square: Orange Tone (1963) will lead Christie's First Open sale in New York on March 4.

It's valued at $500,000-700,000.

Josef Albers' Homage to the Square explores the relationship between colours

Albers studied at the Weimar Bauhaus in the 1920s, becoming a lecturer there in 1925. Like many of the faculty he left Germany when the Nazis forced the school to close in 1933.

Christie's comments: "This particularly exuberant and crisp composition dates from the artist's most celebrated Homage to the Square series in which he methodically examined the process of perceiving and experiencing color.

"This exploration of color theory, planar manipulation and pure beauty solidified Albers' prominent place within the art historical canon and his lasting impact on generations of artists to come."

Albers' record is $1.9m, set for another work from his Homage to the Square series at Christie's in 2014.

An untitled sculpture by Joel Shapiro is likely to prove another highlight, with an identical estimate of $500,000-700,000.

The work dates to 2000-2001 and is a strong specimen of the artist's highly kinetic and abstract work, resembling a dancer in motion.

Shapiro makes the plan for his sculptures from wood, before casting them in steel. His work is featured in numerous high profile collections.

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