Jacques Emile Ruhlmann Leads Christie's $2.25m Modern Collector Auction

A work by Jacques Emile Ruhlmann, which had a guarantee, was the headline sale at Christie's 'Modern Collector' auction on February 19-March 5 in New York.

• The sale totaled $2.25m, exceeding the pre-sale high estimate.

Snapshot of the sale

• 193 works sold totaling $2.25m.
• Estimates totaled: $1.46m (low) and $2.14m (high), excluding premiums.
• The sell-through rate was 84% of the original 230 lots announced.

The star lot was: Jacques Emile Ruhlmann, Pair of 'Drouant' Chairs (1924), which sold for $203,200, 1932% above its $10,000 low estimate. The work was backed by a guarantee. It has been traded once in the past.

The outperformer sold for 1932% above its low estimate. Jacques Emile Ruhlmann, Pair of 'Drouant' Chairs (1924), sold for $203,200 ($10,000 low estimate). The work was backed by a guarantee. It has been traded once in the past.

• 101 works, or 52%, sold above their high estimate.
• 62 works, or 32%, sold within their low and high estimate.
• 30 works, or 16%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

12 works were backed by guarantees, including: Jacques Emile Ruhlmann, 'Vautheret' Sideboard (1925). It sold for $33,000, 17% below its $40,000 low estimate.. It has been traded once in the past.

Works that did not sell

36 works were bought-in, including: Franz West & Mathis Esterhazy, Set of Twelve Chairs (1987), estimated at $40,000 (low) to $60,000 (high). It has been traded 3 times in the past.

Withdrawn before the sale

1 work was withdrawn before the sale: Tiffany Studios, 'Scarab' Desk Lamp (1910), estimated at $8,000 (low) to $12,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.