Jean-Michel Basquiat Leads Christie's $106.5m '21st Century Evening Sale' in New York

A work by Jean-Michel Basquiat was the headline sale at Christie's '21st Century Evening Sale' on November 21 in New York.

• The sale totaled $106.5m, meeting the pre-sale estimate.

Snapshot of the sale

• 42 works sold totaling $106.5m.
• Estimates totaled: $78.33m (low) and $113.5m (high), excluding premiums.
• The sell-through rate was 95% of the original 44 lots announced.

The star lot was: Jean-Michel Basquiat, Untitled (1982), which sold for $22.95m, 14% above its $20m low estimate. It has been traded 4 times in the past.

The outperformer sold for 467% above its low estimate. Firelei Baez, Josephine Judas GOAT (it does not disturb me to accept that there are places where my identity is obscure to me, and the fact that it amazes you does not mean I relinquish it) (2017), sold for $567,000 ($100,000 low estimate). It has been traded once in the past.

• 24 works, or 57%, sold above their high estimate.
• 13 works, or 31%, sold within their low and high estimate.
• 5 works, or 12%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

23 works were backed by guarantees, including: Yayoi Kusama, Pumpkin (2022). It sold for $6.83m, 13% above its $6m low estimate.. It has been traded once in the past.

Works that did not sell

0 works were bought-in.

Withdrawn before the sale

2 works were withdrawn before the sale, including: Eric Fischl, The Old Man's Boat and the Old Man's Dog (1982) estimated at $3m (low) to $4m (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.