Gerard Sekoto Leads Bonhams $2m 'Modern & Contemporary African Art' Auction in London

A work by Gerard Sekoto was the headline sale at Bonhams 'Modern & Contemporary African Art' auction on March 20 in London.

• The sale totaled $2.11m (GBP1.63m), meeting the pre-sale estimate.

Snapshot of the sale

• 54 works sold totaling $2.11m.
• Estimates totaled: $1.54m (low) and $2.31m (high), excluding premiums.
• The sell-through rate was 68% of the original 79 lots announced.

The star lot was: Gerard Sekoto, The Artist's Brother (Undated), which sold for $527,600, 309% above its $128,900 low estimate. It has been traded twice in the past.

The outperformer sold for 363% above its low estimate. Alexander Boghossian, Ju Ju's Conference (1972), sold for $59,800 ($12,900 low estimate). It has been traded once in the past.

• 23 works, or 43%, sold above their high estimate.
• 31 works, or 57%, 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

22 works were bought-in, including: Irma Stern, A musician of the harem (1945), estimated at $51,600 (low) to $77,400 (high).

Withdrawn before the sale

3 works were withdrawn before the sale, including: El Anatsui, Double Access (1998) estimated at $38,700 (low) to $64,500 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.