Bonhams Modern British and Irish Art Auction Totals $1.01m

A work by Gary Bunt was the headline sale at Bonhams 'Modern British and Irish Art' auction on July 6-15 in London.

• The sale totaled $1.01m (GBP754,600), meeting the pre-sale estimate.

Snapshot of the sale

• 155 works sold totaling $1.01m.
• Estimates totaled: $734,400 (low) and $1.09m (high), excluding premiums.
• The sell-through rate was 70% of the original 223 lots announced.

The star lot was: Gary Bunt, The Prodigal Son (Undated), which sold for $37,600, 375% above its $7,917 low estimate. It has been traded twice in the past.

The outperformer sold for 2750% above its low estimate. Prunella Clough, Untitled Collage (1980), sold for $37,600 ($1,320 low estimate). It has not been traded before.

• 80 works, or 52%, sold above their high estimate.
• 70 works, or 45%, sold within their low and high estimate.
• 5 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

67 works were bought-in, including: Clive Head, Artist Descending a Staircase (2012), estimated at $13,200 (low) to $19,800 (high). It has not been traded before.

Withdrawn before the sale

1 work was withdrawn before the sale: Sir Jacob Epstein, Victor (1949), estimated at $2,639 (low) to $3,959 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.