Manet Leads Christie's $11.4m 'Art Moderne' Auction in Paris

A work by Edouard Manet was the headline sale at Christie's 'Art Moderne' auction on October 24 in Paris.

• The sale totaled $11.42m (EUR9.84m), exceeding the pre-sale high estimate.

Snapshot of the sale

• 89 works sold totaling $11.42m.
• Estimates totaled: $7.53m (low) and $10.95m (high), excluding premiums.
• The sell-through rate was 82% of the original 109 lots announced.

The star lot was: Edouard Manet, Ambroise Adam in the Garden at Pressagny (1861), which sold for $1.04m, 787% above its $117,000 low estimate. It has been traded once in the past.

The outperformer sold for 787% above its low estimate. Edouard Manet, Ambroise Adam in the Garden at Pressagny (1861), sold for $1.04m ($117,000 low estimate). It has been traded once in the past.

• 49 works, or 55%, sold above their high estimate.
• 31 works, or 35%, sold within their low and high estimate.
• 9 works, or 10%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

1 work was backed by a guarantee: Marc Chagall, Rooster Violinist Above the Bridges of Paris (1972). It sold for $736,700, 26% above its $580,100 low estimate. It has been traded twice in the past.

Works that did not sell

19 works were bought-in, including: Edgar Degas, Physionomy of a Criminal (1881), estimated at $292,500 (low) to $409,500 (high). It has been traded 7 times in the past.

Withdrawn before the sale

1 work was withdrawn before the sale: Maurice Utrillo, Saint Michael's Church in Limoges (1937) estimated at $35,100 (low) to $58,500 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.