3 min read · 25 Mar 2024
Muhammad Ali by Andy Warhol sold for $355,200. Image courtesy of Sotheby's, Online
A work by Andy Warhol was the headline sale at Sotheby's, Online 'Prints & Multiples' auction on March 20.
The star lot was: Andy Warhol, Muhammad Ali (1978), which sold for $355,200, 86% above its $190,500 low estimate.
The outperformer sold for 400% above its low estimate. M.C. Escher, Circle Limit IV (Heaven and Hell) (1960), sold for $96,900 ($19,000 low estimate).
Breakdown of results against auction house estimates that are disclosed
No sales had a guarantee.
29 works were bought-in, including: Andy Warhol, Shoes (1980), estimated at $127,000 (low) to $152,400 (high).
2 works were withdrawn before the sale, including: Stik, Holding Hands (Red, Orange, Yellow, Teal, Blue) (2020) estimated at $5,079 (low) to $7,618 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.