Bonhams Impressionist & Modern Art Auction Totals $2.68m

A work by Laszlo Moholy-Nagy, which had a guarantee, was the headline sale at Bonhams 'Impressionist & Modern Art' auction on May 21 in New York.

• The sale totaled $2.68m, meeting the pre-sale estimate.

Snapshot of the sale

• 37 works sold totaling $2.68m.
• Estimates totaled: $2.34m (low) and $3.36m (high), excluding premiums.
• The sell-through rate was 69% of the original 54 lots announced.

The star lot was: Laszlo Moholy-Nagy, CH9 (1939), which sold for $419,600, 67% above its $250,000 low estimate. The work was backed by a guarantee. It has been traded twice in the past.

The outperformer sold for 696% above its low estimate. Blanche Hoschede-Monet, La Risle, Beaumont-le-Roger (1910), sold for $159,300 ($20,000 low estimate). It has been traded twice in the past.

• 23 works, or 62%, sold above their high estimate.
• 12 works, or 32%, sold within their low and high estimate.
• 2 works, or 5%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

1 work was backed by a guarantee: Laszlo Moholy-Nagy, CH9 (1939). It sold for $419,600, 67% above its $250,000 low estimate. It has been traded twice in the past.

Works that did not sell

16 works were bought-in, including: Henry Moore, Reclining Mother and Child III (1979), estimated at $100,000 (low) to $150,000 (high). It has been traded once in the past.

Withdrawn before the sale

1 work was withdrawn before the sale: Hans Arp, Le Soleil recerclé (1962), estimated at $25,000 (low) to $35,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.