Roberto Fabelo Leads Bonhams $934,300 Modern & Contemporary Cuban Art Online Auction

A work by Roberto Fabelo was the headline sale at Bonhams 'Modern & Contemporary Cuban Art Online' auction on February 9-20 in New York.

• The sale totaled $934,300, falling short of its pre-sale low estimate.

Snapshot of the sale

• 58 works sold totaling $934,300.
• Estimates totaled: $1.2m (low) and $1.8m (high), excluding premiums.
• The sell-through rate was 67% of the original 87 lots announced.

The star lot was: Roberto Fabelo, Oración doméstica (2017), which sold for $114,800, 27% above its $90,000 low estimate. It has not been traded before.

The outperformer sold for 232% above its low estimate. Alfredo Sosabravo, Light as the Wind (1996), sold for $16,600 ($5,000 low estimate). It has not been traded before.

• 13 works, or 22%, sold above their high estimate.
• 34 works, or 59%, sold within their low and high estimate.
• 11 works, or 19%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

28 works were bought-in, including: Amelia Pelaez, Naturaleza muerta (1945), estimated at $150,000 (low) to $250,000 (high). It has been traded once in the past.

Withdrawn before the sale

1 work was withdrawn before the sale: manuel mendive, El ave y yo (2003) estimated at $20,000 (low) to $30,000 (high).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. 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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.