Antonio Gattorno Leads Bonhams $587,000 'Modern & Contemporary Cuban Art Online' Auction

A work by Antonio Gattorno was the headline sale at Bonhams 'Modern & Contemporary Cuban Art Online' auction on February 11.

• The sale totaled $587,000, falling short of its pre-sale low estimate.

Snapshot of the sale

• 81 works sold totaling $587,000.
• Estimates totaled: $1.08m (low) and $1.55m (high), excluding premiums.
• The sell-through rate was 50% of the original 161 lots announced.

The star lot was: Antonio Gattorno, Sorrentine Dancer (1948), which sold for $83,000, 137% above its $35,000 low estimate. It has been traded 3 times in the past.

The outperformer sold for 284% above its low estimate. Antonio Wapon, Paisaje Cubano (1920), sold for $3,840 ($1,000 low estimate). It has been traded once in the past.

• 22 works, or 27%, sold above their high estimate.
• 48 works, or 59%, sold within their low and high estimate.
• 11 works, or 14%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

79 works were bought-in, including: Carlos Alfonzo, Untitled (Undated), estimated at $60,000 (low) to $80,000 (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Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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