George Gower Leads Bonhams $3.15m 'Old Master Paintings' Auction in London

A work by George Gower was the headline sale at Bonhams 'Old Master Paintings' auction on July 2 in London.

• The sale totaled $3.15m (GBP2.29m), meeting the pre-sale estimate.

Snapshot of the sale

• 37 works sold totaling $3.15m.
• Estimates totaled: $2.73m (low) and $4.11m (high), excluding premiums.
• The sell-through rate was 53% of the original 70 lots announced.

The star lot was: George Gower, Portrait of Sir Edward Monins of Waldershare, three-quarter-length, in a black and gold striped doublet and plumed cap (Undated), which sold for $1.53m, 467% above its $269,400 low estimate. It has not been traded before.

The outperformer sold for 467% above its low estimate. George Gower, Portrait of Sir Edward Monins of Waldershare, three-quarter-length, in a black and gold striped doublet and plumed cap (Undated), sold for $1.53m ($269,400 low estimate). It has not been traded before.

• 18 works, or 49%, sold above their high estimate.
• 15 works, or 41%, sold within their low and high estimate.
• 4 works, or 11%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

30 works were bought-in, including: Jan van de Cappelle, Single-Masters near a shore in a calm (Undated), estimated at $404,000 (low) to $673,400 (high). It has been traded 5 times in the past.

Withdrawn before the sale

3 works were withdrawn before the sale, including: Nicolás Francés & Workshop, The Martyrdom of Saint John the Evangelist (Undated) estimated at $13,500 (low) to $20,200 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.