Ai Qimeng Leads Bonhams $1.89m 'Classical and Modern Chinese Paintings' Auction in New York

A work by Ai Qimeng was the headline sale at Bonhams 'Classical and Modern Chinese Paintings' auction on March 18 in New York.

• The sale totaled $1.89m, meeting the pre-sale estimate.

Snapshot of the sale

• 67 works sold totaling $1.89m.
• Estimates totaled: $1.68m (low) and $2.54m (high), excluding premiums.
• The sell-through rate was 62% of the original 108 lots announced.

The star lot was: Ai Qimeng, Portrait of a First-Rank Imperial Guard in the East Turkestan Campaign (1763), which sold for $508,500, 27% above its $400,000 low estimate. It has been traded twice in the past.

The outperformer sold for 4052% above its low estimate. Artists Unknown, AN IMPERIAL 'KERCHIEF-BOX'-FORM MANUSCRIPT ROUTE MAP FOR EMPEROR GUANGXU'S VISIT TO THE HUI MAUSOLEUMS (1879), sold for $83,000 ($2,000 low estimate).

• 19 works, or 28%, sold above their high estimate.
• 36 works, or 54%, sold within their low and high estimate.
• 12 works, or 18%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

41 works were bought-in, including: Yu Youren, Poem by Jiang Kui (ca. 1155-1221) in Running Script (Undated), estimated at $80,000 (low) to $120,000 (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Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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