Claude Monet Leads Christie's $31.34m 'Impressionist and Modern Art Day Sale' in New York

A work by Claude Monet, which had a guarantee, was the headline sale at Christie's 'Impressionist and Modern Art Day Sale' on May 13 in New York.

• The sale totaled $31.34m, meeting the pre-sale estimate.

Snapshot of the sale

• 110 works sold totaling $31.34m.
• Estimates totaled: $22.22m (low) and $32.72m (high), excluding premiums.
• The sell-through rate was 82% of the original 134 lots announced.

The star lot was: Claude Monet, Vétheuil (1901), which sold for $3.2m, 77% above its $1.8m low estimate. The work was backed by a guarantee. It has been traded 6 times in the past.

The outperformer sold for 656% above its low estimate. Edouard Pignon, Voiliers à Ostend (1947), sold for $5,292 ($700 low estimate). It has been traded once in the past.

• 67 works, or 61%, sold above their high estimate.
• 30 works, or 27%, sold within their low and high estimate.
• 13 works, or 12%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

2 works were backed by guarantees, including: Claude Monet, Vétheuil (1901). It sold for $3.2m, 77% above its $1.8m low estimate.. It has been traded 6 times in the past.

Works that did not sell

24 works were bought-in, including: Henri Hayden, Joueur de mandoline (1920), estimated at $500,000 (low) to $700,000 (high). It has been traded 3 times in the past.

Withdrawn before the sale

0 works were withdrawn

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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.