Henri de Toulouse-Lautrec Leads Christie's $34.05m '20/21 Century Art - Evening Sale' in Paris

A work by Henri de Toulouse-Lautrec was the headline sale at Christie's '20/21 Century Art - Evening Sale' on April 9 in Paris.

• The sale totaled $34.05m (EUR30.75m), meeting the pre-sale estimate.

Snapshot of the sale

• 36 works sold totaling $34.05m.
• Estimates totaled: $27.9m (low) and $40.53m (high), excluding premiums.
• The sell-through rate was 86% of the original 42 lots announced.

The star lot was: Henri de Toulouse-Lautrec, Jane Avril au Divan Japonais (1892), which sold for $5.91m, 119% above its $2.7m low estimate. It has been traded 5 times in the past.

The outperformer sold for 171% above its low estimate. Kazuo Shiraga, 酒仙 (Shusen) (1986), sold for $1.17m ($431,500 low estimate). It has been traded once in the past.

• 17 works, or 47%, sold above their high estimate.
• 15 works, or 42%, sold within their low and high estimate.
• 4 works, or 11%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

4 works were backed by guarantees, including: Gustave Caillebotte, Un Balcon, Boulevard Haussmann (1880). It sold for $2.99m, 38% above its $2.16m low estimate.. It has been traded 8 times in the past.

Works that did not sell

1 work was bought-in: Mario Merz, Chiocciola (1976), estimated at $53,900 (low) to $75,500 (high). It has been traded once in the past.

Withdrawn before the sale

5 works were withdrawn before the sale, including: Rene Magritte, La Peine perdue (1965) estimated at $2.8m (low) to $3.88m (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.