Newell Convers Wyeth Leads Bonhams $3.52m 'American Art' Auction in New York

A work by Newell Convers Wyeth was the headline sale at Bonhams 'American Art' auction on November 19 in New York.

• The sale totaled $3.52m, falling short of its pre-sale low estimate.

Snapshot of the sale

• 72 works sold totaling $3.52m.
• Estimates totaled: $7.49m (low) and $11.76m (high), excluding premiums.
• The sell-through rate was 73% of the original 98 lots announced.

The star lot was: Newell Convers Wyeth, Self-portrait in Top Hat and Cape (1927), which sold for $508,500, 27% above its $400,000 low estimate. It has been traded 5 times in the past.

The outperformer sold for 1180% above its low estimate. Douglas Allen, Seagulls (Undated), sold for $7,680 ($600 low estimate). It has not been traded before.

• 34 works, or 47%, sold above their high estimate.
• 31 works, or 43%, sold within their low and high estimate.
• 7 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

25 works were bought-in, including: Newell Convers Wyeth, Unknown (Coastal Scene with Apple Tree in Foreground) (1936), estimated at $1.2m (low) to $1.8m (high). It has been traded 4 times in the past.

Withdrawn before the sale

1 work was withdrawn before the sale: Norman Rockwell, A Scout is Loyal (1940) estimated at $3m (low) to $5m (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.