Bonhams Modern Design Auction Totals $856,700

A work by Paul Horiuchi was the headline sale at Bonhams 'Modern Design | Art | Featuring 'Lorna Lane: The Legacy of Billy Haines'' auction on July 22 in Los Angeles.

• The sale totaled $856,700, meeting the pre-sale estimate.

Snapshot of the sale

• 175 works sold totaling $856,700.
• Estimates totaled: $689,200 (low) and $1.03m (high), excluding premiums.
• The sell-through rate was 75% of the original 233 lots announced.

The star lot was: Paul Horiuchi, Central (1963), which sold for $51,200, 540% above its $8,000 low estimate. It has been traded twice in the past.

The outperformer sold for 540% above its low estimate. Paul Horiuchi, Central (1963), sold for $51,200 ($8,000 low estimate). It has been traded twice in the past.

• 65 works, or 37%, sold above their high estimate.
• 68 works, or 39%, sold within their low and high estimate.
• 42 works, or 24%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

58 works were bought-in, including: Studio Of Sam Maloof, Rare Live-Edge Dining Table (2012), estimated at $20,000 (low) to $30,000 (high).

Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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