Jacopo Ligozzi Leads Christie's $2m 'Old Master & British Drawings' Auction in New York

A work by Jacopo Ligozzi was the headline sale at Christie's 'Old Master & British Drawings' auction on February 4 in New York.

• The sale totaled $2.12m, meeting the pre-sale estimate.

Snapshot of the sale

• 97 works sold totaling $2.12m.
• Estimates totaled: $1.62m (low) and $2.48m (high), excluding premiums.
• The sell-through rate was 80% of the original 121 lots announced.

The star lot was: Jacopo Ligozzi, The head of a woman in profile to the right, wearing an elaborate headdress with a pearl resting on her forehead (Undated), which sold for $504,000, 152% above its $200,000 low estimate. It has been traded twice in the past.

The outperformer sold for 782% above its low estimate. Domenico Campagnola, Study of a male nude and a tree (recto); Studies of two figures fighting (verso) (Undated), sold for $17,600 ($2,000 low estimate). It has been traded once in the past.

• 36 works, or 37%, sold above their high estimate.
• 35 works, or 36%, sold within their low and high estimate.
• 26 works, or 27%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

22 works were bought-in, including: Paul Sandby, In the woodyard, Windsor Great Park (Undated), estimated at $40,000 (low) to $60,000 (high). It has been traded once in the past.

Withdrawn before the sale

2 works were withdrawn before the sale, including: Louis-Gabriel Moreau, A pair of landscapes with figures in the Parc de Saint-Cloud (1784) estimated at $6,000 (low) to $8,000 (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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.