Robert Rauschenberg Leads Christie's $9.5m 'Art Contemporain' Auction in Paris

A work by Robert Rauschenberg was the headline sale at Christie's 'Art Contemporain' auction on April 11 in Paris.

• The sale totaled $9.48m (EUR8.4m), exceeding the pre-sale high estimate.

Snapshot of the sale

• 80 works sold totaling $9.48m.
• Estimates totaled: $6.06m (low) and $8.79m (high), excluding premiums.
• The sell-through rate was 94% of the original 85 lots announced.

The star lot was: Robert Rauschenberg, Rush 18 (Cloister) (1980), which sold for $469,200, 117% above its $215,800 low estimate. It has been traded twice in the past.

The outperformer sold for 515% above its low estimate. Jean Michel Folon, Pluie (1999), sold for $398,100 ($64,700 low estimate). It has been traded once in the past.

• 41 works, or 51%, sold above their high estimate.
• 32 works, or 40%, sold within their low and high estimate.
• 7 works, or 9%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

1 work was backed by a guarantee: Jean Paul Riopelle, Hommage à Marquet ou Prairial (1948). It sold for $284,300, 5% above its $269,700 low estimate. It has been traded 11 times in the past.

Works that did not sell

4 works were bought-in, including: Jean Paul Riopelle, Sans titre (1964), estimated at $129,500 (low) to $194,200 (high). It has not been traded before.

Withdrawn before the sale

1 work was withdrawn before the sale: Alicia Penalba, Grande Annonciatrice (1965) estimated at $43,200 (low) to $64,700 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.