Andre Derain Leads Christie's $13.43m 'Art Impressionniste & Moderne' Auction in Paris

A work by Andre Derain was the headline sale at Christie's 'Art Impressionniste & Moderne : OEuvres choisies' auction on April 9 in Paris.

• The sale totaled $13.43m, meeting the pre-sale estimate.

Snapshot of the sale

• 22 works sold totaling $13.43m.
• Estimates totaled: $9.08m (low) and $13.93m (high), excluding premiums.
• The sell-through rate was 92% of the original 24 lots announced.

The star lot was: Andre Derain, Matisse et Terrus (1905), which sold for $3.46m, 59% above its $2.16m low estimate. It has been traded once in the past.

The outperformer sold for 500% above its low estimate. Francoise Gilot, Concert on the Green (Le Concert Champêtre) (1953), sold for $1.42m ($216,500 low estimate), a new auction record for the artist. It has been traded twice in the past.

• 15 works, or 68%, sold above their high estimate.
• 6 works, or 27%, sold within their low and high estimate.
• 1 works, or 5%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

1 work was bought-in: Le Corbusier, Coquillage (1937), estimated at $324,700 (low) to $541,200 (high). It has been traded 3 times in the past.

Withdrawn before the sale

1 work was withdrawn before the sale: Marc Chagall, Bouquet de fleurs avec amoureux (1927) estimated at $1.08m (low) to $1.62m (high).

Terms and definitions

All results include the fees and premiums added to the price of a work of art when the auctioneer's hammer falls. Sale prices are compared to the auction house’s low estimate, which do not include premiums.

Guarantees: Sometimes an auction house guarantees to pay a seller for a work, regardless of whether the bidding reaches the reserve price, a figure that is typically confidential.

Bought-in: If there are no bids for a work, or if bidding falls short of the reserve price, the lot is unsold or “bought-in”.

Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.

Premiums: Typically a sliding-scale of charges paid in addition to the hammer price by the buyer, plus any other fees.