Andy Warhol Leads Christie's $75.19m 'Post-War and Contemporary Art Day Sale' in New York

A work by Andy Warhol was the headline sale at Christie's 'Post-War and Contemporary Art Day Sale' on May 17 in New York.

• The sale totaled $75.19m, meeting the pre-sale estimate.

Snapshot of the sale

• 237 works sold totaling $75.19m.
• Estimates totaled: $67.41m (low) and $99.8m (high), excluding premiums.
• The sell-through rate was 80% of the original 296 lots announced.

The star lot was: Andy Warhol, Marilyn Monroe (Marilyn) (1967), which sold for $3.68m, 22% above its $3m low estimate. It has been traded once in the past.

The outperformer sold for 1600% above its low estimate. Daniel Heidkamp, Hunter Mountain (2016), sold for $69,300 ($4,000 low estimate). It has been traded once in the past.

• 115 works, or 49%, sold above their high estimate.
• 101 works, or 43%, sold within their low and high estimate.
• 21 works, or 9%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

73 works were backed by guarantees, including: George Condo, Shimmering Forms (2010). It sold for $1.26m, 26% above its $1m low estimate.. It has been traded once in the past.

Works that did not sell

48 works were bought-in, including: Sandy Calder, Saw Plant (1964), estimated at $1m (low) to $1.5m (high). It has been traded 6 times in the past.

Withdrawn before the sale

11 works were withdrawn before the sale, including: Gerhard Richter, Abstract Painting (1990) estimated at $1.8m (low) to $2.5m (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.