3 min read · 16 Oct 2024
Rat Clock (Gold) by Banksy sold for $78,900. Image courtesy of Christie's Online
A work by Banksy was the headline sale at Christie's Online 'Post-War and Contemporary Art Online' auction on October 15.
The star lot was: Banksy, Rat Clock (Gold) (2021), which sold for $78,900, 99% above its $39,500 low estimate. It has not been traded before.
The outperformer sold for 399% above its low estimate. Wolfgang Tillmans, The Air Between (2016), sold for $19,700 ($3,951 low estimate). It has been traded twice in the past.
Breakdown of results against auction house estimates that are disclosed
No sales had a guarantee.
21 works were bought-in, including: Rainer Fetting, Ina Mit Hut und Rotwein (Ina with Hat and Red Wine) (1999), estimated at $32,900 (low) to $46,100 (high). It has been traded once in the past.
1 work was withdrawn before the sale: Saul Steinberg, Untitled (Alligator, Building) (1960) estimated at $3,951 (low) to $6,585 (high).
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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.