Frank Auerbach Leads Christie's $14.67m 'Modern British and Irish Art Evening Sale' in London

A work by Frank Auerbach was the headline sale at Christie's 'Modern British and Irish Art Evening Sale' on March 19 in London.

• The sale totaled $14.67m (GBP11.31m), exceeding the pre-sale high estimate.

Snapshot of the sale

• 23 works sold totaling $14.67m.
• Estimates totaled: $9.46m (low) and $14.26m (high), excluding premiums.
• The sell-through rate was 92% of the original 25 lots announced.

The star lot was: Frank Auerbach, Nude on Bed III (1961), which sold for $1.94m, 117% above its $889,100 low estimate. It has not been traded before.

The outperformer sold for 912% above its low estimate. Sir William Nicholson, The Lustre Bowl (1908), sold for $1.54m ($152,400 low estimate). It has been traded once in the past.

• 12 works, or 52%, sold above their high estimate.
• 11 works, or 48%, sold within their low and high estimate.
• 0 works, or 0%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

3 works were backed by guarantees, including: Lynn Chadwick, Sitting Couple on Bench (1990) (2021). It sold for $1.78m, 16% above its $1.52m low estimate.. It has not been traded before.

Works that did not sell

1 work was bought-in: William Scott, Interior (1958), estimated at $317,500 (low) to $444,600 (high). It has been traded twice in the past.

Withdrawn before the sale

1 work was withdrawn before the sale: Ben Nicholson, 1971 (Obidos 2) (Portugal) (1971) estimated at $254,000 (low) to $381,100 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.