Sayed Haider Raza Leads Bonhams $7.4m 'Modern and Contemporary South Asian Art' Auction in London

A work by Sayed Haider Raza was the headline sale at Bonhams 'Modern and Contemporary South Asian Art' auction on December 10 in London.

• The sale totaled $7.42m (GBP5.82m), exceeding the pre-sale high estimate.

Snapshot of the sale

• 38 works sold totaling $7.42m.
• Estimates totaled: $3.72m (low) and $5.69m (high), excluding premiums.
• The sell-through rate was 67% of the original 57 lots announced.

The star lot was: Sayed Haider Raza, La Terre (1985), which sold for $4.22m, 124% above its $1.89m low estimate. It has been traded 3 times in the past.

The outperformer sold for 16029% above its low estimate. Samuel Fyzee-Rahamin, Untitled (Maiden by a pool) (Undated), sold for $202,800 ($1,257 low estimate). It has not been traded before.

• 25 works, or 66%, sold above their high estimate.
• 13 works, or 34%, sold within their low and high estimate.
• 0 works, or 0%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

19 works were bought-in, including: M.F. Husain, Untitled (Tearing Apart) (Undated), estimated at $150,900 (low) to $226,300 (high). It has been traded once in the past.

Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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