Chen Zhifo Leads Bonhams $206,900 'Chinese Paintings & Calligraphy Online' Auction

A work by Chen Zhifo was the headline sale at Bonhams 'Chinese Paintings & Calligraphy Online' auction on June 26.

• The sale totaled $206,900, falling short of its pre-sale low estimate.

Snapshot of the sale

• 97 works sold totaling $206,900.
• Estimates totaled: $265,500 (low) and $384,600 (high), excluding premiums.
• The sell-through rate was 84% of the original 115 lots announced.

The star lot was: Chen Zhifo, Plum Blossoms (1947), which sold for $12,800, 220% above its $4,000 low estimate.

The outperformer sold for 241% above its low estimate. Hong Yi, Calligraphy in Cinnabar Red (Undated), sold for $10,200 ($3,000 low estimate).

• 15 works, or 15%, sold above their high estimate.
• 9 works, or 9%, sold within their low and high estimate.
• 73 works, or 75%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

18 works were bought-in, including: Ding Yanyong, Bamboo, Bird and Rock (Undated), estimated at $6,000 (low) to $8,000 (high). It has not been traded before.

Withdrawn before the sale

0 works were withdrawn

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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.