Diego Rivera Leads Christie's $2.18m Online Auction

A work by Diego Rivera was the headline sale at Christie's 'Latin American Art Online' auction on December 3-17 in New York.

• The sale totaled $2.18m, meeting the pre-sale estimate.

Snapshot of the sale

• 128 works sold totaling $2.18m.
• Estimates totaled: $1.85m (low) and $2.64m (high), excluding premiums.
• The sell-through rate was 84% of the original 152 lots announced.

The star lot was: Diego Rivera, Hombre partiendo leña (1934), which sold for $88,900, 196% above its $30,000 low estimate. It has been traded twice in the past.

The outperformer sold for 662% above its low estimate. Miler Lagos, From the trees that were born before Christ (2009), sold for $15,200 ($2,000 low estimate). The work was backed by a guarantee. It has been traded once in the past.

• 44 works, or 34%, sold above their high estimate.
• 36 works, or 28%, sold within their low and high estimate.
• 48 works, or 38%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

39 works were backed by guarantees, including: Jac Leirner, Big 38 (2013). It sold for $33,000, 10% above its $30,000 low estimate.. It has been traded once in the past.

Works that did not sell

23 works were bought-in, including: Alice Rahon, Rocío y manchas solares (1976), estimated at $50,000 (low) to $70,000 (high). It has been traded 3 times in the past.

Withdrawn before the sale

1 work was withdrawn before the sale: Gabriel Kuri, Self-Portrait as a Contention and Flow Chart (2009) estimated at $3,000 (low) to $5,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.