Bonhams The Marine Sale Totals $483,100

A work by Montague Dawson was the headline sale at Bonhams 'The Marine Sale' on October 12-21 in London.

• The sale totaled $483,100 (GBP362,000), falling short of its pre-sale low estimate.

Snapshot of the sale

• 62 works sold totaling $483,100.
• Estimates totaled: $536,400 (low) and $791,400 (high), excluding premiums.
• The sell-through rate was 73% of the original 85 lots announced.

The star lot was: Montague Dawson, 'Idle Sails - The Loch Etive (Undated), which sold for $103,200, 56% above its $66,100 low estimate. It has been traded twice in the past.

The outperformer sold for 556% above its low estimate. Shane Couch, ' Endeavour off Cowes during her trials with Valsheda 1934' (Undated), sold for $8,675 ($1,321 low estimate).

• 29 works, or 47%, sold above their high estimate.
• 32 works, or 52%, sold within their low and high estimate.
• 1 works, or 2%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

22 works were bought-in, including: Montague Dawson, 'A Rift in the Clouds' - The Joshua Bates (Undated), estimated at $39,600 (low) to $66,100 (high). It has been traded twice in the past.

Withdrawn before the sale

1 work was withdrawn before the sale: Montague Dawson, Fairing Weather - The Clipper Red Jacket (Undated), estimated at $92,500 (low) to $132,100 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.