James Rosenquist Leads Bonhams $3.99m 'Post-War & Contemporary Art' Auction in New York

A work by James Rosenquist was the headline sale at Bonhams 'Post-War & Contemporary Art' auction on May 15 in New York.

• The sale totaled $3.99m, meeting the pre-sale estimate.

Snapshot of the sale

• 67 works sold totaling $3.99m.
• Estimates totaled: $3.89m (low) and $5.92m (high), excluding premiums.
• The sell-through rate was 70% of the original 96 lots announced.

The star lot was: James Rosenquist, Welcome to the Water Planet III (1988), which sold for $622,800, 107% above its $300,000 low estimate. It has not been traded before.

The outperformer sold for 572% above its low estimate. Herbert Bayer, Northerly (1982), sold for $53,800 ($8,000 low estimate). It has been traded once in the past.

• 24 works, or 36%, sold above their high estimate.
• 35 works, or 52%, sold within their low and high estimate.
• 8 works, or 12%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

27 works were bought-in, including: Cindy Sherman, Untitled #417 (2004), estimated at $150,000 (low) to $250,000 (high). It has been traded 3 times in the past.

Withdrawn before the sale

2 works were withdrawn before the sale, including: Jim Dine, A Study/Your Yard (1981) estimated at $100,000 (low) to $150,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.