Rembrandt Bugatti Leads Bonhams Cornette de Saint Cyr $3.26m 'Impressionist & Modern Art' Auction in Paris

A work by Rembrandt Bugatti was the headline sale at Bonhams Cornette de Saint Cyr 'Impressionist & Modern Art' auction on June 4 in Paris.

• The sale totaled $3.26m (EUR2.87m), meeting the pre-sale estimate.

Snapshot of the sale

• 33 works sold totaling $3.26m.
• Estimates totaled: $2.52m (low) and $3.75m (high), excluding premiums.
• The sell-through rate was 66% of the original 50 lots announced.

The star lot was: Rembrandt Bugatti, Two leopards walking, the male raising one paw (1912), which sold for $867,300, 173% above its $316,800 low estimate. It has been traded twice in the past.

The outperformer sold for 286% above its low estimate. Seraphine de Senlis, Bouquet of Lilies of the Valley in a Vase (1910), sold for $8,737 ($2,263 low estimate). It has been traded once in the past.

• 12 works, or 36%, sold above their high estimate.
• 20 works, or 61%, sold within their low and high estimate.
• 1 works, or 3%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

16 works were bought-in, including: Theo van Rysselberghe, Quay at Veere (1906), estimated at $203,600 (low) to $282,800 (high). It has been traded 10 times in the past.

Withdrawn before the sale

1 work was withdrawn before the sale: Rene Magritte, The Gear Change (1951) estimated at $226,300 (low) to $452,500 (high).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. 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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.