Francis Newton Souza Leads Bonhams $604,100 'Modern and Contemporary South Asian Art' Auction in London

A work by Francis Newton Souza was the headline sale at Bonhams 'Modern and Contemporary South Asian Art' auction on June 4 in London.

• The sale totaled $604,100 (GBP446,700), falling short of its pre-sale low estimate.

Snapshot of the sale

• 25 works sold totaling $604,100.
• Estimates totaled: $1.62m (low) and $2.45m (high), excluding premiums.
• The sell-through rate was 51% of the original 49 lots announced.

The star lot was: Francis Newton Souza, Untitled (Head of Man) (1956), which sold for $86,400, 27% above its $67,700 low estimate. It has not been traded before.

The outperformer sold for 922% above its low estimate. Bengal Folk Art, Untitled (Riders with Chariot) (Undated), sold for $6,924 ($677 low estimate). It has not been traded before.

• 12 works, or 48%, sold above their high estimate.
• 11 works, or 44%, sold within their low and high estimate.
• 2 works, or 8%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

24 works were bought-in, including: M.F. Husain, Untitled (Seven Horses) (1981), estimated at $406,500 (low) to $677,500 (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Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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