Andy Warhol Leads Sotheby's $6.89m 'Contemporary Day Auction' in London

A work by Andy Warhol was the headline sale at Sotheby's 'Contemporary Day Auction' on October 10 in London.

• The sale totaled $6.89m (GBP5.27m), meeting the pre-sale estimate.

Snapshot of the sale

• 46 works sold totaling $6.89m.
• Estimates totaled: $6.38m (low) and $9.22m (high), excluding premiums.
• The sell-through rate was 74% of the original 62 lots announced.

The star lot was: Andy Warhol, Dollar Sign (1982), which sold for $902,400, 50% above its $597,800 low estimate. It has been traded 4 times in the past.

The outperformer sold for 274% above its low estimate. Andrew Cranston, Study for 'Starry Night with Donkey' (2020), sold for $59,600 ($15,900 low estimate). It has been traded once in the past.

• 23 works, or 50%, sold above their high estimate.
• 16 works, or 35%, sold within their low and high estimate.
• 7 works, or 15%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

14 works were bought-in, including: Banksy, Homeless Di Milo (2006), estimated at $265,700 (low) to $398,500 (high). It has not been traded before.

Withdrawn before the sale

2 works were withdrawn before the sale, including: Albert Oehlen, Untitled (2016) estimated at $199,300 (low) to $265,700 (high).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. Estimates, sale prices and totals are converted into US dollars. 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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.