Banksy Leads Christie's $6.25m 'The Collection of Sir Elton John: Opening Night' Auction in New York
3 min read · 22 Feb 2024
Flower Thrower Triptych by Banksy sold for $1.93m. Image courtesy of Christie's
A work by Banksy was the headline sale at Christie's 'The Collection of Sir Elton John: Opening Night' auction on February 21 in New York.
- The sale totaled $6.25m, meeting the pre-sale estimate.
Snapshot of the sale
- 30 works sold totaling $6.25m.
- Estimates totaled: $4.16m (low) and $6.46m (high), excluding premiums.
- The sell-through rate was 97% of the original 31 lots announced.
The star lot was: Banksy, Flower Thrower Triptych (2017), which sold for $1.93m, 92% above its $1m low estimate. It has not been traded before.
The outperformer sold for 2500% above its low estimate. David LaChapelle, A NEON 'HORNY?!' SIGN (2003), sold for $26,500 ($1,000 low estimate).
A talking point was Keith Haring, Untitled (1982), which sold for $756,000, 150% above the low estimate. The early, dayglo-on-wood piece has been traded once in the past and came from the artist's estate.
Breakdown of results against auction house estimates that are disclosed
- 19 works, or 63%, sold above their high estimate.
- 8 works, or 27%, sold within their low and high estimate.
- 3 works, or 10%, sold below their low estimate.
- 0 sold with undisclosed estimates.
Guaranteed sales
No sales had a guarantee.
Works that did not sell
0 works were bought-in.
Withdrawn before the sale
1 work was withdrawn before the sale: Damien Hirst, Your Song (2008) estimated at $350,000 (low) to $450,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.