Joachim Anthonisz Wtewael Leads Christie's $24.5m 'Old Masters' Auction in New York

A work by Joachim Anthonisz. Wtewael was the headline sale at Christie's 'Old Masters' auction on February 5 in New York.

• The sale totaled $24.49m, falling short of its pre-sale low estimate.

Snapshot of the sale

• 42 works sold totaling $24.49m.
• Estimates totaled: $32.47m (low) and $47.03m (high), excluding premiums.
• The sell-through rate was 70% of the original 60 lots announced.

The star lot was: Joachim Anthonisz. Wtewael, Adam and Eve (Undated), which sold for $2.05m, 104% above its $1m low estimate. It has been traded 5 times in the past.

The outperformer sold for 498% above its low estimate. The Master of the Magdalene Legend, Portrait of Mary, Duchess of Burgundy (1457-1482), bust-length, wearing a henin and veil (Undated), sold for $239,400 ($40,000 low estimate). It has been traded twice in the past.

• 15 works, or 36%, sold above their high estimate.
• 17 works, or 40%, sold within their low and high estimate.
• 10 works, or 24%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

1 work was backed by a guarantee: Pieter Brueghel the Younger, The Seven Acts of Mercy (Undated). It sold for $1.86m, 166% above its $700,000 low estimate. It has been traded 5 times in the past.

Works that did not sell

14 works were bought-in, including: Jan Both, An Italianate landscape with bandits leading prisoners (Undated), estimated at $1m (low) to $1.5m (high). It has been traded 7 times in the past.

Withdrawn before the sale

4 works were withdrawn before the sale, including: El Greco, Saint Sebastian (Undated) estimated at $7m (low) to $9m (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.