3 min read · 27 Sep 2024
Flowers by Andy Warhol sold for $1.6m. Image courtesy of Sotheby's, Online
A work by Andy Warhol was the headline sale at Sotheby's, Online 'Prints & Multiples featuring Duchamp’s L.H.O.O.Q.' auction on September 25.
The star lot was: Andy Warhol, Flowers (1970), which sold for $1.6m, 21% above its $1.32m low estimate. It has been traded twice in the past.
The outperformer sold for 1601% above its low estimate. After Andy Warhol, Liz (1965), sold for $22,500 ($1,321 low estimate).
Breakdown of results against auction house estimates that are disclosed
No sales had a guarantee.
15 works were bought-in, including: Andy Warhol, Mick Jagger (1975), estimated at $39,600 (low) to $66,000 (high).
0 works were withdrawn
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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.