3 min read · 02 Oct 2024
Grace Kelly by Andy Warhol sold for $165,600. Image courtesy of Bonhams
A work by Andy Warhol was the headline sale at Bonhams 'Prints & Multiples' auction on October 1 in Los Angeles.
The star lot was: Andy Warhol, Grace Kelly (1984), which sold for $165,600, 65% above its $100,000 low estimate. It has been traded once in the past.
The outperformer sold for 207% above its low estimate. Albrecht Durer, Christ in Limbo, from The Large Passion (1510), sold for $7,680 ($2,500 low estimate).
Breakdown of results against auction house estimates that are disclosed
No sales had a guarantee.
45 works were bought-in, including: Robert Indiana, The Garden of Love (1982), estimated at $50,000 (low) to $70,000 (high).
1 work was withdrawn before the sale: Jonas Wood, C.M.Z. House on M.V. with Ptolemy (2021) estimated at $6,000 (low) to $8,000 (high).
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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.